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Weekly Economic Update: August 21, 2023

Stocks extended their August declines last week as higher yields and weak economic data out of China soured investor sentiment.

The Dow Jones Industrial Average lost 2.21%, while the Standard & Poor’s 500 retreated 2.11%. The Nasdaq Composite index backtracked 2.59% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, slumped 2.83%.

Stocks Wilt
Rising bond yields, driven primarily by strong economic data and the release of the minutes from July’s Federal Open Market Committee (FOMC) meeting that pointed toward Fed officials’ potential need to raise rates further, weighed on stocks throughout the week...
 

Capstone August Podcast

Our Lindsey Simek & Ryan Turbyfill talk trends, bond market opportunities, and address questions about the TD Ameritrade-Schwab merger.

Dollars and Degrees: The Cost of Education

As we approach the back-to-school season, the cost of education may be on your mind. Whether you have children or grandchildren preparing for college or considering furthering your education, it's important to understand the financial side.

Let's delve into some eye-opening statistics about the cost of college. In 2022, the average amount families spent on college reached $25,313. Interestingly, family savings and income covered 54 percent of this amount, highlighting the importance of diligent financial preparation. Scholarships and grants accounted for 26 percent, while student borrowing constituted 18 percent.¹

Let's proactively address the financial aspects of education and create a strategy so that you and your loved ones can pursue your academic aspirations. We can work together to help you prepare for any upcoming educational expenses.  Get started today. 

¹ SallieMae, 2022, How America Pays for College

Tax Tip: Is it Time for a Paycheck Checkup?

There's no better time than the present to check your withholding status and make sure your paycheck accurately reflects the taxes you should be paying.

These paycheck checkups are a great practice when something happens in your life that may change your tax status, such as getting married or getting divorced, having a baby, getting a new job, or getting a raise or promotion at work. You can also adjust your withholding status if you want to change how much tax you withhold due to other circumstances.

During your paycheck checkup, you can also check other factors, such as how much you contribute to your health insurance or retirement plan. These expenses can also impact your tax liability.

*This information is not intended to substitute for specific individualized tax advice. We suggest you discuss your specific tax issues with a qualified tax professional.  Tip adapted from IRS.gov

Parting Shot: Peach Season in Colorado

5 Palisade Peach Stands to Visit This Season

Via 5280 Magazine

Capstone built our reputation on friendly service, impeccable honesty, and respect for every client. Our clients’ needs drive our relationship, and the focus is always on you. We strive to be highly responsive to your requests and are skilled at creating solutions customized to your goals, values, and situation.  Reach out anytime with questions. We're happy to help!

Capstone Investment Financial Group, LLC

Colorado Springs/Denver

719-477-9883

info@capstoneinvest.com