Finance Globe

There is generally more and more positive news coming out for the economy which is a sign we have already hit a bottom.Many believe that rising coronavirus cases won’t overwhelm hospitals that are now better prepared than during the first wave, and that virtually no political will exists for the return to restrictive lockdowns that characterized March and April.Even the Federal Reserve chair, Jerome Powell, is expected to tell lawmakers that the U.S. economy is bouncing...

A few additional interesting statistics to watch during this pandemic, is U.S. home sales and the corresponding mortgage rates. Please let me know if anyone has recently purchased a home and if they are comfortable sharing, please share your rate as well.U.S. Home Sales:U.S home sales dropped to their lowest level in more than 9.5 years in May, which are caused by disruptions from the COVID-19 pandemic. Also, there was the smallest annual home price increase...

The stock performance in June has been very strong, which is a surprise to many. June is turning into a historic month for the markets, as the Dow experiences its best performance for the month since 1933Wall Street rallied Monday 6/29, with all three indexes jumping by over 1%, after new housing data showed a record monthly gain in pending home sales and momentarily offsetting rising fears about new coronavirus cases that are jeopardizing an economic...

The Federal Trade Commission has issued a warning to consumers to be skeptical of anyone trying to sell test kits, inspections, or quick fixes for problems caused by imported drywall that has turned out to be contaminated. Earlier this year, it was determined that some U.S. homes built between 2003 and 2008 contain imported drywall, referred to in the press as Chinese drywall. Consumers largely report that their homes were built in 2006 to 2007, when...

May unemployment numbers are again bad news and we are still seeing the impact from the coronavirus. 2.123 million Americans filed for unemployment benefits in the week ending May 23, exceeding economists’ expectations for 2.1 million initial jobless claims. The prior week’s figure was revised higher to 2.446 million from 2.438 million jobless claims. Over the past 10 weeks, more than 40 million Americans have filed for unemployment insurance. In the week ending May 23, California...

This is not a great time to be a recent college graduate. The economy is in terrible shape and there are over 40 million Americans who have recently filed for unemployment in the last 10 weeks. I have asked several associates what advice you would give to recent college graduates. These associates all graduated in 2008-2009 and know what you are getting into. Below is a summary of their advice and a few tips based on...

Many are hopeful and predicting the economy is going to come back in the summer. However, based on the data to date, that has not happened. The Federal Reserve recently said that U.S. businesses saw limited evidence of a recovery in recent weeks, with economic activity continuing to decline amid the coronavirus pandemic. The labor market continued to deteriorate and consumer spending fell further as retailers and restaurants remained largely closed in most of the country...

Even in the absence of a global pandemic, retirement is very difficult to manage and plan for. Everyone’s retirement funds have likely seen the ups and downs recently and likely feel very concerned about the state of our economy. However, now is not the time to panic and make quick decisions without a thorough thought process. Below are some lessons to take to make sure you are planning for your retirement the right way.Have flexibility in...

The stock performance in May has been very strong, which is a surprise to many. April was very strong and May continued that trend. The stock market finished higher on 5/27, with the Dow and S&P 500 both clearing critical milestones as investors cheered a reopening of the economy and a potential coronavirus vaccine. The Dow closed above 25,000 and the S&P broke 3,000, both for their first time since March—showing the market’s recovery from the...

Any time there is funding from the government, there is going to be scams out there to try to defraud you. Now scammers are going after your coronavirus stimulus checks. Many of you received a check, but if you were not aware, the federal government, has issued a one-time payment to tens of millions of Americans to provide financial relief amid this pandemic. The scams are focusing on college students and nursing home residents. The scams...