The S&P 500 reached a new all-time high, 3588, the Nasdaq Composite did the same, reaching 12,074, both on September 2, 2020. From there, these major stock indexes have pulled back in what I consider, an orderly fashion. No panic for now, just the realization that valuations were getting stretched, the uncertainty of additional stimulus prior to the election, the upcoming results of schools and (indoor) restaurants reopening, and of course, let’s not forget, a Presidential Election is now weeks away.
Investors appear to have confidence that corporate profits will return to year end 2019 levels in 2021. Hopefully a year from now, fruition!!
Last week US major stock indexes were down with the S&P 500 losing (2.49%), the Dow off (1.61%), the Russell small cap index (2.45%) and the Nasdaq Composite (4.06%). It makes sense tech would pull back the most, as the index is up over 20% year-to -date.
Over the pond, the developed market MSCI EAFE index rose 1.45% with the Emerging Market stock index down (.67%).
Government Bond yields remain in a close trading range as the 10 Year US Treasury Yield ended the week @ .67%, just about where it was on June 30th @ .65%.
Social Security On-Line Account
This is a quick list of what can be accomplished by having a Social Security On-line account:
- View and print your full Social Security Statement
- Change bank account for direct deposits
- Change your address
- Appoint an advance designee to manage your social security in the event you’re unable
- Apply for your monthly retirement benefit
- Apply for a spousal benefit
Even if you’re not near retirement, I still strongly suggest registering. Each year you’ll be able to monitor the amount of your income being reported and see how each year’s income impacts your future benefits. A great planning tool!
I also strongly suggest everyone print and actually read your entire Social Security Statement. So, few do, however it offers an abundance of useful information. It’s only a few pages!
Click here for step-by-step instructions to open your on-line account.
Back to the Gym?
Even though gyms reopened, I’ve only ventured in twice. Both times, I was one of perhaps 10 people. No issues social distancing and you simply disinfect what you touch before and after.
Why only twice, when I typically don’t miss a day? I’ve gotten used to doing many exercises at home which saves a lot of daily travel time. Both times the gym felt “weird.” It lacked that “buzz” of motivation I so much enjoy, and wearing a mask is very uncomfortable, although the necessity is understood. Perhaps it’s just my natural apprehension…. I’m guessing, in time, I’ll go more often, provided they stay in business. I will for the time being, alternate between working out at home and the gym which is reminiscent of how this pandemic is changing how we think. Hopefully for not too much longer!