Stocks were mixed Friday, thanks to a slightly better-than-expected July jobs report and gridlock between Democratic leaders and the White House over the next stimulus package.
Income restrictions limit who can open a Roth, but since 2010, anyone – regardless of income – has been able to convert assets from a traditional IRA to a Roth IRA. Unique circumstances in 2020 have more investors now considering Roth rollovers.
Stocks closed Friday’s session and the month of July higher after trading lower earlier in the day. Uncertainty over the next stimulus package and falling consumer sentiment weighed on investors while strong quarterly earnings among major tech companies buoyed investors. The S&P achieved its fourth weekly gain, and the three major indices posted their fourth month of gains. For the week, the Dow fell 0.15 percent to close at 26,428.32. The S&P gained 1.75 percent to finish at 3,271.12, and the NASDAQ climbed 3.70 percent to end the week at 10,745.27.
Stocks were mixed Friday. Despite surging coronavirus cases, investors appeared relatively optimistic about potential vaccines for COVID-19 and a post-pandemic economic recovery. For the week, the Dow rose 2.32 percent to close at 26,671.95. The S&P gained 1.27 percent to finish at 3,224.73, and the NASDAQ fell 1.08 percent to end the week at 10,503.19.
Witnessing a new virus turn life upside down in such a short time demonstrates the importance of having a thorough, up-to-date estate plan. Considering how difficult – if not impossible – it could be to create estate documents during the isolation imposed on COVID hospital patients creates an even greater urgency.
Despite the recent surge in new cases in the United States and expected poor economic data that was released throughout the second quarter, more recent data has started to improve, and forecasted data paints a better backdrop.
Stocks rose Friday, and the NASDAQ reached a record high as investors weighed positive and negative headlines. U.S. coronavirus cases broke a record for a single day increase on Thursday while Gilead Sciences reported remdesivir, its experimental drug to treat the virus, significantly reduced fatalities. For the week, the Dow rose 0.98 percent to close at 26,075.30. The S&P gained 1.79 percent to finish at 3,185.04, and the NASDAQ climbed 4.02 percent to end the week at 10,617.44.
As U.S. governors plan to reopen their states and medical researchers across the globe scramble to create an effective vaccine or treatment for COVID-19, it’s natural to wonder how different our lives might look after the virus is under control.
Stocks rose Thursday following an unexpectedly positive June jobs report. Nonfarm payrolls rose by 4.8 million from May’s 2.7 million, achieving the largest single-month increase in history. Encouraging news about Pfizer’s coronavirus vaccine trial also buoyed investors. For the week, the Dow rose 0.36 percent to close at 25,827.36. The S&P gained 1.55 percent to finish at 3,130.01, and the NASDAQ climbed 1.93 percent to end the week at 10,207.63.
Stocks dropped sharply Friday as several states reversed some reopening plans after coronavirus cases rose. Bank stocks fell after the Federal Reserve limited dividend payments and barred share repurchases for the third quarter. For the week, the Dow fell 3.31 percent to close at 25,015.55. The S&P lost 2.86 percent to finish at 3,009.05, and the NASDAQ dropped 1.90 percent to end the week at 9,757.22.