| Stocks notched a slight gain over the holiday week. A tech-driven rally in the first half of the week was clawed back in the second half as investors took profits following the market holiday. The Standard & Poor’s 500 Index advanced 0.67 percent, while the Nasdaq Composite Index rose 0.76 percent. The Dow Jones Industrial Average added 0.35 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, rose 1.54 percent Ho-Ho, Then No-Go Stocks rallied during the first half of a shortened holiday trading week. Holiday cheer won out despite news of declining consumer confidence in December, a drop in durable goods, and new home sales reporting below expectations. The “Santa rally” lost its ho-ho-go after the midweek holiday. Megacap technology stocks led markets down on Friday, giving back most of the gains from the first half of the week. |
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| Source: YCharts.com, December 28, 2024. Weekly performance is measured from Friday, December 20, to Friday, December 27. TR = total return for the index, which includes any dividends as well as any other cash distributions during the period. Treasury note yield is expressed in basis points. |
The Real Santa While Santa got the headlines, the consumer drove the holiday shopping sleigh this year. Holiday spending—defined by the period from November 1 through December 24—rose 3.8 percent in 2024, compared with 3.1 percent in 2023. Economists closely follow consumer activity since consumer spending makes up roughly two-thirds of total gross domestic product. Market watchers attributed the strong job market and growth in household wealth as the primary drivers of consumer strength. |
This Week: Key Economic Data Monday: Pending Home Sales. 3-Month Treasury Bill Auction. Tuesday: Case-Shiller Home Price Index. Wednesday: Stock market closed. Thursday: Jobless Claims. EIA Petroleum Status Report. Fed Balance Sheet. 30-Year Treasury Bond Announcement. Friday: Motor Vehicle Sales. ISM Manufacturing Index. Federal Reserve Officials Thomas Barkin and Mary Daly speak. Source: Investors Business Daily - Econoday economic calendarĶ¾ December 27, 2024 The Econoday economic calendar lists upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to be providing accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts also are subject to revision. |
This Week: Companies Reporting Earnings Friday: The Greenbrier Companies, Inc. (GBX) Source: Zacks, December 27, 2024. Companies mentioned are for informational purposes only. It should not be considered a solicitation for the purchase or sale of the securities. Investing involves risks, and investment decisions should be based on your own goals, time horizon, and tolerance for risk. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost. Companies may reschedule when they report earnings without notice. |
 Do You Have to Pay Taxes on Your Hobby? Whether you picked up embroidering, dog grooming, or making jewelry, a side hobby may or may not require paying taxes. Does your kids' lemonade stand need to pay taxes? Probably not but if you're doing something like selling cookies out of your kitchen, you might need to check out the rules. Here are some things to consider when determining whether your activity is a hobby or business: 1. Is your hobby carried out in a businesslike manner? 2. Do you maintain complete and accurate books and records for your hobby? 3. Is the effort you put into your hobby intended to make a profit? 4. Do you depend on the income from your hobby for your livelihood? 5. Do you know how to carry out your hobby as a successful business? 6. Have you made a profit from your hobby? If you receive income from your hobby with no intention of making a profit, you may have to report the income to the IRS. This information is not a substitute for individualized tax advice. Please discuss your specific tax issues with a qualified tax professional. |
| Footnotes and Sources 1. The Wall Street Journal, December 27, 2024 2. Investing.com, December 27, 2024 3. MarketWatch.com, December 23, 2024 4. CNBC.com, December 26, 2024 5. The Wall Street Journal, December 27, 2024 6. MarketWatch.com, December 26, 2024 7. IRS.gov, March 18, 2024 8. American Academy of Dermatology, August 1, 2024 |
| Dave Fischesser dave@fischfinancial.com 630-346-3302 Fisch Financial http://www.fischfinancial.com/ |