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Tax Tips – What Do the Different Filing Statuses Mean?*

What are you? That may sound like a trick question, but we’re talking taxes. The IRS provides five different filing statuses: single, married filing jointly, married filing separately, head of household, or qualifying widow(er) with dependent child.

You can only choose one, right? No, not necessarily.

Is it important which filing status you claim? Yes, it’s very important. Your status will determine how much taxes you’ll have to pay.

Ideally, you should choose a category that allows you to pay the least amount in taxes.

So, what do the different categories mean, and which one should you choose?

  • Single: Use this if you are not married or are divorced or legally separated under your state law.
  • Married filing jointly: If you’re married, you can file a joint return with your spouse. If your spouse dies, you can file in this category during the year of your spouse’s death.
  • Married filing separately: If you’re married, you may file two separate returns. This may allow you to pay less taxes. However, if you’re interested in this option, you should try preparing your taxes both jointly and separately (before filing) to determine which one allows you to pay less taxes. This may also work if both you and your spouse want to retain individual responsibility for each own’s taxes.
  • Head of household: You may use this filing status if you’re not married (in most cases). The IRS has special rules for using this one; you may use this if you paid more than half of the costs for upkeeping the home where you and a qualifying person live.
  • Qualifying widow(er) with dependent child: You can use this status if your spouse died in the previous two years and you have a dependent child.

Check the IRS rules carefully to determine your filing status: https://www.irs.gov/help/ita/what-is-my-filing-status.

Other details may apply, and you can find more information on the IRS website.

* This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor.

Tip adapted from IRS.gov[12]

[12] www.irs.gov/newsroom/here-are-facts-to-help-taxpayers-understand-the-different-filing-statuses

Markets Bounce Back – WEEKLY UPDATE – NOVEMBER 5, 2018

Markets posted strong gains last week after struggling for much of October. The S&P 500 had its best weekly performance since May, and the NASDAQ had its first positive week since September.[1] Despite domestic markets dropping on Friday, November 2, the S&P 500 added 2.42%, the Dow increased 2.36%, and the NASDAQ gained 2.65%.[2] International stocks in the MSCI EAFE were also up 3.34%.[3]

What drove market performance last week?
We received a fair amount of data and reports, with the following details holding particular weight for investors:

  • U.S. – China trade updates were inconsistent.
    Stocks fluctuated widely on Friday, in large part because of contradictory updates on a potential trade deal between the U.S. and China. President Trump said the two countries are a lot closer to an agreement. Larry Kudlow, Trump’s economic advisor, shared a different perspective, indicating the U.S. is not working out a trade deal with China. These conflicting reports contributed to volatility in the markets as investors tried to determine exactly where we stand. [4]                                                         
  • U.S. corporate earnings were strong but imperfect.
    So far, the 3rd quarter earnings season has been a strong one. Of the 74% of S&P 500 companies that have released their data, 78% have beaten their earnings-per-share estimates, and earnings have grown 24.9% year-over-year.[5] However, concerns for at least one major tech company’s projections affected investor behavior.[6] In addition, analysts predict that in 2019, earnings growth will not match the double-digit results we’ve experienced this year. [7]
  • Labor market growth beat expectations.
    The economy added 250,000 jobs in October, a stronger increase than expected. Wages also rose, posting 3.1% growth over the prior year, the fastest annual growth since 2009.[8] Investors interpreted these results to mean that the Federal Reserve would continue raising interest rates at its projected pace.[9]


Where should you go from here?  

If you felt at all whipsawed by last week’s price fluctuations, especially after October’s declines, you weren’t alone. Even if you know that market volatility is normal, it can feel intense in the moment. Right now, many investors are also jumping in and out of popular, crowded stocks, causing market levels to shift more quickly than many people are used to. To navigate these accelerated changes, you need to remove emotion from investing decisions and stick to your long-term vision even more.[10] 

Rather than trying to predict what stocks will do in the immediate future, we are here to help you plan for the financial life and legacy you desire. Please let us know if you have any questions about where you are and how to pursue your future.

[1] www.bloomberg.com/news/articles/2018-11-01/asia-stocks-to-extend-rally-after-trump-xi-call-markets-wrap?srnd=markets-vp

[2] www.marketwatch.com/story/dow-aims-for-4th-gain-in-a-row-ahead-of-jobs-report-apples-stock-sinks-on-outlook-2018-11-02?dist=markets

http://performance.morningstar.com/Performance/index-c/performance-return.action?t=SPX®ion=usa&culture=en-US

http://performance.morningstar.com/Performance/index-c/performance-return.action?t=!DJI®ion=usa&culture=en-US

http://performance.morningstar.com/Performance/index-c/performance-return.action?t=@CCO

www.cnbc.com/2018/11/02/stock-market-triple-digit-gains-for-dow-nonfarm-payrolls.html

[3] www.msci.com/end-of-day-data-search

[4] www.cnbc.com/2018/11/02/stock-market-triple-digit-gains-for-dow-nonfarm-payrolls.html

[5] www.factset.com/hubfs/Resources%20Section/Research%20Desk/Earnings%20Insight/EarningsInsight_110218.pdf

[6] www.cnbc.com/2018/11/02/stock-market-triple-digit-gains-for-dow-nonfarm-payrolls.html

[7] www.factset.com/hubfs/Resources%20Section/Research%20Desk/Earnings%20Insight/EarningsInsight_110218.pdf

[8] www.ftportfolios.com/Commentary/EconomicResearch/2018/11/2/nonfarm-payrolls-rose-250,000-in-october

[9] www.bloomberg.com/news/articles/2018-11-01/asia-stocks-to-extend-rally-after-trump-xi-call-markets-wrap?srnd=markets-vp

[10] www.bloomberg.com/news/articles/2018-11-02/bulls-sit-still-as-u-s-stock-reversals-land-with-record-force?srnd=markets-vp

Tax Tips – Tax Preparers Should Watch for Signs of Information Theft*

If you’re a tax preparer or professional, how do you detect theft? What are the subtle signs that indicate information has been stolen?

The IRS has joined forces with Security Summit to combat information and identify theft. State tax agencies, tax preparation firms, software developers, payroll and tax financial product processors, tax professional organizations, and financial institutions are part of Security Summit.[9] 

Tax preparers may be unaware of client data theft until they discover fraudulent tax returns being filed in their clients’ names. Safety experts urge preparers to protect client information by implementing strong security protections.

Here are some red flags for tax preparers of possible data theft:

  • The IRS begins to reject clients’ e-filed returns because a tax return with the same Social Security number has already been filed.
  • The IRS sends authentication letters to clients who haven’t filed returns. The letters include forms 5071C, 4883C, and 5747C.
  • The IRS sends refunds to clients who haven’t filed returns.
  • The IRS sends tax transcripts to clients who haven’t requested them.
  • The IRS sends notices to clients who have created online services accounts that their accounts were accessed.
  • The number of returns you filed with your Electronic Filing Identification Number is greater than the number of clients you have.
  • You are getting responses to emails you either didn’t send or don’t recall sending.

Other details may apply, and you can find more information on the IRS website.

* This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor.

Tip adapted from IRS.gov[10]

[10] www.irs.gov/newsroom/tax-preparers-should-look-out-for-these-signs-that-a-criminal-stole-information

Why Did Stocks Drop? – WEEKLY UPDATE – OCTOBER 29, 2018

Last week did nothing to dispel October’s reputation as a tough month for the markets. The S&P 500 lost 3.94%, the Dow declined 2.97%, and the NASDAQ dropped 3.78% during what was one of 2018’s most volatile weeks so far. All three indexes are down significantly for the month, and both the S&P 500 and Dow have entered negative territory for 2018.[1] International stocks in the MSCI EAFE also struggled, posting a 3.87% drop for the week, and a 13.31% decline for the year.[2]

Why did stocks drop? Will they continue to do so?
Currently, many topics are on investors’ minds, from inflation to tariffs to valuations and beyond, but analysts are not pointing to one single culprit for last week’s performance. Instead, a mixture of concerns, with a large dose of emotion, seemed to drive the markets.[3] 

Emotional reactions are understandable when volatility emerges, but they have no place in long-term investment strategies. Instead, we need to focus on the fundamentals.

What did we learn last week?
Trying to find simple explanations for market behavior can feel impossible, in part because the markets aren’t a machine – they’re a reflection of many human actions. Investors make choices based on their interpretations of current conditions, and the effects of these decisions become “market performance.”

Amidst the volatility, we received several updates on the economy, including:

  • 3rd Quarter Gross Domestic Product (GDP) beat expectations: The initial GDP reading for the 3rd quarter came in at a strong 3.5%, helped in large part by consumer spending.[4]
  • Corporate earnings have been strong, but imperfect: So far, this corporate earnings season is showing 22% growth, but fewer S&P 500 companies are exceeding analysts’ predictions than in the 1st quarter of 2018. In particular, some major tech companies’ results disappointed investors.[5]
  • Housing continued to struggle: New home sales were lower than expected in September, which followed disappointing results from existing-home sales data, as well.[6]
  • Inflation growth eased: The Personal Consumption Expenditures Price Index, which shows inflation, increased by 1.6% in the 3rd quarter, much lower than projected.[7] 

Examined together, this data indicates that while the economy has potential challenges, it also demonstrates solid growth, reasonable inflation, and strong corporate performance. That story feels different than the sharp drop we experienced last week.

However, when you look at the bigger picture, our current circumstances provide another reminder that volatility is normal, and examining economic fundamentals is critical.

Still, risks exist, and in the coming weeks we will pay very close attention to data and performance. In particular, we will follow the Federal Reserve’s comments and actions to see what may lie ahead for interest rates. In the meantime, please let us help answer your questions and address your concerns. We are here to help you pursue your goals, in every market environment.

[1] http://performance.morningstar.com/Performance/index-c/performance-return.action?t=SPX®ion=usa&culture=en-US

http://performance.morningstar.com/Performance/index-c/performance-return.action?t=!DJI®ion=usa&culture=en-US

http://performance.morningstar.com/Performance/index-c/performance-return.action?t=@CCO

www.bloomberg.com/news/articles/2018-10-25/asia-stocks-set-to-rally-on-u-s-gains-bonds-slip-markets-wrap?srnd=markets-vp

www.cnbc.com/2018/10/26/stock-market-us-futures-show-drop-for-dow.html

[2] www.msci.com/end-of-day-data-search

[3] https://www.bloomberg.com/news/articles/2018-10-25/sell-offs-are-normal-but-this-week-is-shocking-the-pros

[4] http://wsj-us.econoday.com/byshoweventfull.asp?fid=485684&cust=wsj-us&year=2018&lid=0&prev=/byweek.asp#top

[5] www.reuters.com/article/us-usa-stocks-weekahead/mixed-u-s-inflation-signals-leave-investors-adrift-idUSKCN1N01F6

[6] wsj-us.econoday.com/byshoweventfull.asp?fid=485959&cust=wsj-us&year=2018&lid=0&prev=/byweek.asp#top

[7] www.cnbc.com/2018/10/26/first-read-on-us-q3-2018-gross-domestic-product.html

Tax Tips – Use the Paycheck Checkup if You Have Other Sources of Income*

If you’re working for an employer and have other income sources outside your job, you should get a Paycheck Checkup. For more information, go to https://www.irs.gov/newsroom/time-for-a-paycheck-checkup.

Doing a paycheck checkup with the Withholding Calculator may help you avoid paying taxes at tax filing time. Go to https://apps.irs.gov/app/withholdingcalculator/.

Other income sources may come, for example, from the exchange of products and services in a sharing economy, interest, dividends, self-employment, capital gains, prizes, or awards.

Taxpayers may find the calculator especially important this year in the wake of changes to the tax code from the Tax Cuts and Jobs Act.

Here are some items to consider if you’re thinking about changing your withholdings to avoid a tax bill:

  • You should pay at least 90% of your income tax through withholding.
  • You can use Form W-4 to make adjustments to your income if the Withholding Calculator estimates you will have to pay taxes. Go to https://www.irs.gov/pub/irs-pdf/fw4.pdf.
  • If you’re generating income from other sources, you can still reduce or eliminate the possibility you’ll pay taxes by claiming fewer withholding allowances on your Form W-4.
  • You may also request your employer withhold an additional amount of money from your paycheck if you anticipate having to pay taxes at filing.
  • If you have to make additional tax payments through your paycheck, you may use Form 1040-ES, Estimated Tax for Individuals, to calculate an appropriate amount. Go to https://www.irs.gov/pub/irs-pdf/f1040es.pdf.

For additional questions, go to https://www.irs.gov/payments.

Other details may apply, and you can find more information on the IRS website.

* This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor.

Tip adapted from IRS.gov[12]

[12] www.irs.gov/newsroom/employees-with-other-sources-of-income-should-do-a-paycheck-checkup

Examining October – WEEKLY UPDATE – OCTOBER 22, 2018

Stock performance was mixed last week as investors considered the impact of interest rates, international affairs and corporate earnings.[1] The S&P 500 gained 0.02%, and the Dow added 0.41% to post its first weekly gains in October. The NASDAQ declined 0.64% and extended its losing streak.[2] International stocks in the MSCI EAFE dropped by 0.08%.[3]

While the final weekly results showed relatively little growth or loss, the week included some volatility.[4] So far, domestic indexes have struggled this month. As of October 19, the S&P 500 and Dow had each lost more than 3% for the month, and the NASDAQ was down 7%.[5] 

As we have often discussed in our market updates, volatility may feel uncomfortable, but market fluctuations are normal. That perspective becomes especially relevant in October, which is considered the most volatile month for markets.[6] 

Examining October History

Historical performance can’t predict future results. However, we do believe that understanding what makes October unique can help provide context for the current environment.

Significant market events

For generations, many of the most significant market events have taken place in October, including the crash of 1929 and multiple large drops in 2008. In addition, last Friday, October 19, marked the 31st anniversary of the “Bloody Monday” market crash. On that date in 1987, the S&P 500 lost over 20% of its value.[7] 

Higher than normal volatility
Since 1950, the S&P 500 has experienced more 1% moves in October than any other month.[8] The month has also been the Dow’s most volatile since its beginning in 1896.[9] 

Surprising performance
Despite the large events and high volatility that October can bring, its results may be stronger than expected. For the past 20 years, October has had the strongest performance of any month.[10] 

Exactly how this month will end remains to be seen, as we still have a few trading days left. But we hope that understanding how much markets often move in October will help you ride out any future volatility with more confidence. Of course, we’re also here to provide any answers or information you need, so contact us any time.

[1] www.cnbc.com/2018/10/19/wall-street-futures-point-to-a-slight-rebound-after-the-dow-sheds-300-points.html

[2] www.cnbc.com/2018/10/19/wall-street-futures-point-to-a-slight-rebound-after-the-dow-sheds-300-points.html

http://performance.morningstar.com/Performance/index-c/performance-return.action?t=SPX®ion=usa&culture=en-US

http://performance.morningstar.com/Performance/index-c/performance-return.action?t=!DJI®ion=usa&culture=en-US

http://performance.morningstar.com/Performance/index-c/performance-return.action?t=@CCO

[3] www.msci.com/end-of-day-data-search

[4] www.cnbc.com/2018/10/19/wall-street-futures-point-to-a-slight-rebound-after-the-dow-sheds-300-points.html

[5] www.cnbc.com/2018/10/19/wall-street-futures-point-to-a-slight-rebound-after-the-dow-sheds-300-points.html

[6] www.marketwatch.com/story/fasten-your-seat-belt-october-is-almost-here-2018-09-25

[7] www.cnbc.com/2018/10/15/this-chart-shows-why-october-has-such-a-scary-reputation-on-wall-street.html

www.marketwatch.com/story/dow-poised-to-jump-100-points-at-the-open-as-stock-market-aims-to-follow-china-rebound-2018-10-19?dist=markets

[8] www.cnbc.com/2018/10/15/this-chart-shows-why-october-has-such-a-scary-reputation-on-wall-street.html

[9] www.marketwatch.com/story/should-investors-fear-october-a-historic-jinx-month-for-stocks-2018-09-26

[10] finance.yahoo.com/video/ryan-detrick-markets-210928786.html?format=embed

Tax Tips – IRS Provides Helpful Tools*

Filing your taxes shouldn’t be stressful and confusing. The IRS provides online tools and resources to help make taxes less taxing.

Here are the agency’s most popular:

Other details may apply, and you can find more information on the IRS website.

* This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor.

Tip adapted from IRS.gov[15]

[15] www.irs.gov/newsroom/taxpayers-should-check-out-these-helpful-tax-tools

Stocks Take a Ride – WEEKLY UPDATE – OCTOBER 15, 2018

Volatility was back in full force last week. The three major domestic indexes posted several days of losses before experiencing wide swings on Friday. By week’s end, the Cboe Volatility Index (VIX), which investors use to help measure fear in the markets, had increased by approximately 70%. The VIX also reached its highest point since February.[1]

Despite a number of equities posting last-minute gains on Friday, all three domestic indexes had sizable losses for the week. In fact, they posted their worst weekly performance since March.[2]  The S&P 500 dropped 4.10%, the Dow declined 4.19%, and the NASDAQ gave back 3.74%.[3] International stocks in the MSCI EAFE also lost ground, decreasing 3.96%.[4] 

What drove market performance last week? 

As is typically the case, a number of details affected investor sentiment and behavior. The following topics were among the perspectives impacting performance:

  • Rising interest rates: In addition to the Fed’s interest rate increases, 10-year Treasury yields are on many investors’ minds. At one point last week, the 10-year reached its highest yields since 2011.[5]  As interest from banks and bonds rise, some investors exit the markets in search of more predictable returns. These moves can cause stock prices to drop.[6]  However, we want to remind you of what we wrote about last week: Rising rates may bring their own risks, but they are a sign that the economy is growing.[7] 
  • Falling tech prices: Technology companies have been the best market performers in 2018. However, the sector just experienced its worst weekly results since this spring.[8]  With this shift in industry performance, some market participants have begun searching for different ways to invest their money.[9]
  • Ongoing trade tension: While many analysts believe interest rates and tech prices drove last week’s losses, some feel that our trade renegotiation with China is to blame.[10]  We do not yet know how this skirmish will resolve, but tariffs do have the possibility to slow economic growth and increase prices for consumers.[11] 

These concerns and perspectives are important, but they do not give a complete understanding of our current economic conditions. Consumer sentiment remains high, and the latest corporate earnings season is likely to show strong, double-digit earnings growth for companies.[12] 

We know that volatility can feel uncomfortable, but it is normal. In the past 38 years, the markets have averaged a 13.8% intra-year decline – yet 29 of those years had positive returns.[13] 

As always, we are continuing to monitor economic fundamentals and investor perspectives to find a clear view of where we are today, and what may be ahead. If you have any questions, we are here for you.

[1] www.cnbc.com/2018/10/12/us-markets-data-and-bank-earnings-in-focus.html

[2] www.cnbc.com/2018/10/12/us-markets-data-and-bank-earnings-in-focus.html

[3] http://performance.morningstar.com/Performance/index-c/performance-return.action?t=SPX®ion=usa&culture=en-US

http://performance.morningstar.com/Performance/index-c/performance-return.action?t=!DJI®ion=usa&culture=en-US

http://performance.morningstar.com/Performance/index-c/performance-return.action?t=@CCO

[4] www.msci.com/end-of-day-data-search

[5] www.bloomberg.com/news/articles/2018-10-12/another-gut-wrenching-week-puts-2018-stocks-in-with-bad-company?srnd=markets-vp

[6] www.forbes.com/sites/markavallone/2018/10/11/5-reasons-why-higher-interest-rates-matter/#50fabc87577d

[7] www.investopedia.com/investing/how-interest-rates-affect-stock-market/

[8] www.cnbc.com/2018/10/12/us-markets-data-and-bank-earnings-in-focus.html

[9] www.bloomberg.com/news/articles/2018-10-12/another-gut-wrenching-week-puts-2018-stocks-in-with-bad-company?srnd=markets-vp

[10] fortune.com/2018/10/11/trump-federal-reserve-powell-lagarde-carney/

[11] www.businessinsider.com/trump-trade-war-tariffs-china-effect-2018-10

[12] wsj-us.econoday.com/byshoweventfull.asp?fid=485860&cust=wsj-us&year=2018&lid=0&prev=/byweek.asp#top

www.cnbc.com/2018/10/12/us-markets-data-and-bank-earnings-in-focus.html

[13] am.jpmorgan.com/us/en/asset-management/gim/adv/insights/guide-to-the-markets/viewer  [p.14]

Tax Tips – Is It Time for a ‘Paycheck Checkup’?*

That big tax return may have allowed you to pay bills, build your savings, or buy something you’ve wanted for some time. With passage of the Tax Cuts and Jobs Act in late 2017, the tax code changed, making potentially for an even rosier tax picture for some at the end of this year.

However, the IRS urges taxpayers to get a paycheck checkup to ensure you don’t encounter any surprises come time for tax filing early in 2019.

A paycheck checkup will help make sure your employer is withholding the correct amount from your paycheck. Go to https://www.irs.gov/individuals/irs-withholding-calculator for more information.

Here are some of the changes in the law that may affect your taxes:

  • The act lowered tax rates and changed tax brackets.
  • Standard deductions nearly doubled to $24,000 for joint filers and $12,000 for singles.
  • The act eliminated personal exemptions.
  • The child tax credit is larger.
  • The act added a credit for dependents who can’t be claimed with the child tax credit.

The calculator may help you determine the best withholding level to suit your needs.

For more information about withholdings and other tax changes, go to https://www.irs.gov/newsroom/tax-reform-resources.

Other details may apply, and you can find more information on the IRS website.

* This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor.

Tip adapted from IRS.gov[18]

[18] www.irs.gov/newsroom/irs-tells-taxpayers-who-got-a-big-refund-to-do-a-paycheck-checkup

Examining Economies – WEEKLY UPDATE – OCTOBER 8, 2018

Although new data continued to show strength in the U.S. economy, markets stumbled across the globe last week.[1] The S&P 500 lost 0.98%, the Dow dropped 0.04%, and the NASDAQ declined 3.21%.[2] International stocks in the MSCI EAFE struggled, posting a 2.35% loss.[3]

While U.S. and international stocks followed similar paths last week, data is beginning to show that our economic outlooks may be very different for the moment.[4]

U.S. Strength in a Growing International Divide

The latest labor report helped underscore some of the differences between the U.S. economy and the rest of the world. While the data missed the mark for new jobs added, September marked the 96th-straight month of job growth – and the lowest unemployment level since 1969.[5] The report pushed interest rates higher, which contributed to last week’s equity losses.[6] 

However, when describing our economy, Federal Reserve Chair Jerome Powell said it is experiencing “a particularly bright moment.”[7] 

Global Growth Adjustments

At the same time, the International Monetary Fund (IMF) indicated that it would decrease its global economic growth predictions. The IMF hasn’t downgraded its forecasts since 2016. Currently, more risks are beginning to emerge – from trade tension to political challenges in Europe.[8] In particular, the rise in oil prices, the U.S dollar, and interest rates are hurting emerging economies.[9] 

HSBC mirrored this divide, cutting its global economic outlook while upgrading U.S. numbers.[10]

A Look Ahead While Looking Back

As the labor market tightens, inflation could rise – bringing even more interest rate hikes from the Federal Reserve.[11] While rising rates bring their own set of risks, they are ultimately a sign that the economy is growing. On the other hand, when the Fed lowers rates, they do so because the economy is slowing.[12]

This week, we mark the 11th anniversary of the markets hitting their highest pre-recession point on October 9, 2007.[13] At that time, hopes that the Fed would lower rates again contributed to the new record highs.[14] In the ensuing months, the Dow lost more than half its value as the Great Recession began.[15] 

While markets were down last week, they were still far ahead of their highs from 2007. The Dow closed at 14,164.43 on October 9, 2007 – and ended at 26,447.05 on October 5, 2018.[16] 

Investors have experienced quite a ride in the past 11 years, but the market’s long-term growth is undeniable. Risks are here, as they always are. But we are here to help you understand and navigate those risks, no matter what the markets bring.

[1] www.reuters.com/article/us-global-markets/stocks-fall-globally-after-u-s-jobs-data-treasury-yields-rise-again-idUSKCN1MF04H

[2] http://performance.morningstar.com/Performance/index-c/performance-return.action?t=SPX®ion=usa&culture=en-US

http://performance.morningstar.com/Performance/index-c/performance-return.action?t=!DJI®ion=usa&culture=en-US

http://performance.morningstar.com/Performance/index-c/performance-return.action?t=@CCO

[3] www.msci.com/end-of-day-data-search

[4] www.bloomberg.com/news/articles/2018-10-05/u-s-economy-isn-t-bright-enough-to-offset-global-growth-slowing?srnd=markets-vp

[5] www.cnbc.com/2018/10/05/us-markets-jobs-report-and-rates-in-focus.html

www.nytimes.com/2018/10/05/business/economy/jobs-report.html

[6] www.cnbc.com/2018/10/05/us-markets-jobs-report-and-rates-in-focus.html

[7] www.bloomberg.com/news/articles/2018-10-05/u-s-economy-isn-t-bright-enough-to-offset-global-growth-slowing?srnd=markets-vp

[8] www.bloomberg.com/news/articles/2018-10-05/u-s-economy-isn-t-bright-enough-to-offset-global-growth-slowing?srnd=markets-vp

[9] www.reuters.com/article/us-global-markets/stocks-fall-globally-after-u-s-jobs-data-treasury-yields-rise-again-idUSKCN1MF04H

[10] www.bloomberg.com/news/articles/2018-10-05/u-s-economy-isn-t-bright-enough-to-offset-global-growth-slowing?srnd=markets-vp

[11] www.bloomberg.com/news/articles/2018-10-05/u-s-economy-isn-t-bright-enough-to-offset-global-growth-slowing?srnd=markets-vp

[12] www.investopedia.com/investing/how-interest-rates-affect-stock-market/

[13] www.thebalance.com/stock-market-crash-of-2008-3305535

[14] money.cnn.com/2007/10/09/markets/markets_0500/index.htm?postversion=2007100917

[15] www.thebalance.com/stock-market-crash-of-2008-3305535

[16] www.thebalance.com/stock-market-crash-of-2008-3305535