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The Markets & More ... February 2, 2017

Old_Skeet
edited February 2017 in Off-Topic
Good morning,

Yesterday the S&P 500 Index finished slightly up at 2,279.55 (+0.03%). The three best performing sectors were health care, technology and materials.

In checking the markets this morning as I write both Europe and Asia-Pacific are trading mixed while in the States the futures are pointing for stocks to be down and government bonds up.

http://markets.wsj.com/usoverview

http://finviz.com/futures.ashx

I increased my position in other assets yesterday (as defined by Instant Xray) by opening a position in a convertible securities fund. I know, some on the board are looking at high yield funds; but, since I already have a meaningful allocation in high yield and bank loan funds I choose to go the convertible securities route. To date, the convertible securites fund that I chose is up better than four percent. I have linked its Morningstar fund report for those that might be interested along with a blurb about convertibles. I have held convertibles in the past and I have found that they performed well in a rising interest rate environment. I have also provided a link to a list of convertible security funds.

http://www.morningstar.com/funds/XNAS/FISCX/quote.html

http://www.investopedia.com/terms/c/convertible-security.asp

http://news.morningstar.com/fund-category-returns/convertibles/$FOCA$CV.aspx

Have a great day ... and, I wish all "Good Investing."

Skeet

Comments

  • TSP_TransferTSP_Transfer
    edited February 2017
    Online Brokerages Head Lower As Schwab Slashes Trading Costs
    Feb. 2, 2017 9:08 AM ET|By: Stephen Alpher, Seeking Alpha News Editor
    Starting tomorrow, standard online stock and ETF trade commissions at Schwab (NYSE:SCHW) will be just $6.95 each, down from $8.95 previously.

    This compares to $7.95 at Fidelity, $9.99 at E*Trade (NASDAQ:ETFC) and Ameritrade (NASDAQ:AMTD), and $7-$20 at Vanguard (depending on number of trades).

    More fee reductions coming as listed
    http://seekingalpha.com/news/3240040-online-brokerages-head-lower-schwab-slashes-trading-costs

    As Republicans move to take the Affordable Care Act off the books, they don't intend to let taxes such as the investment-income levy survive

    By Mark Schoeff Jr. | February 2, 2017 - 1:17 pm EST @ INVESTMENTNEWS
    One aspect of the effort by congressional Republicans to scrap the health care reform law is being embraced by financial advisers — the demise of the investment tax that funds part of the program.
    The law imposes a 3.8% tax on net investment income, including capital gains, interest and dividends for couples with combined income of more than $250,000 or a single person above $200,000.
    ...Republicans...don't intend to let taxes such as the investment-income levy survive to fund whatever they come up with as a replacement.This resonates with financial advisers.

    “I'm happy to see it go,” said Herbert Schechter, managing director at Minneapolis Portfolio Management Group. “It does complicate the tax return and creates another layer of administration.”
    If the 3.8% levy on investment income is eliminated, investors will feel less inhibited about making moves in their portfolios, said Tim Steffen, director of financial planning at Robert W. Baird & Co.
    http://www.investmentnews.com/article/20170202/FREE/170209974?template=printart
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