The Pinnacle Financial Group

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Important Stimulus Information Did You Get Too Much or Too Little Stimulus? Calculating Your Tax Credit The Recovery Rebate Credit was authorized through the CARES Act and the COVID-related Tax Relief Act. It's a tax credit against your 2020 income tax....Continue reading

Stocks Drift Sideways As Investors Await Stimulus Plan Hi Everyone, Even though volatility was low today, the main sectors continued to diverge substantially due to stimulus-related flows. Energy stocks surged higher again, hitting a seven-month high, while materials, industrials, the real estate sector, and healthcare stocks also performed better than the broader market. Tech stocks remained divided as the giants of the sector struggled again, while utilities were the weakes...t for the second day in a row amid the wild swings in Treasury yields. Traders said that choppy but active trading continued on Wall Street today, but today’s session could have been the calm before the storm. As one trader explained, "With tonight’s announcements and tomorrow’s earnings in mind, some participants likely took a step back today, which led to another choppy session. However, the rally in small-caps shows that bulls remain firmly in control of the market. According to the latest rumors, the size of Joe Biden’s COVID relief package will be between $1 trillion and $2 trillion, but the predictions span a wide range, which could mean that we will see a busy overnight session. The fact that the President-elect is reportedly seeking bipartisan support makes a more than $2 trillion proposal unlikely, and the structure of the package remains uncertain. Investors will likely focus on direct payments, extended unemployment insurance benefits, and subsidies for the hardest-hit industries, as those could have the most direct effect on the economy. UPDATE: Joe Biden’s stimulus proposal dubbed American Rescue Plan got leaked just after press time, and the structure of the $1.9 trillion package was in line with expectations. The proposal includes further direct payments of $1,400, increased federal unemployment benefits, $400 extended until September, and large sums toward states, local governments, schools, and COVID testing. The plan is unlikely to cause major waves in financial markets, even though initially stocks edged lower in the wake of the leak. While the global COVID numbers remained gloomy in the past 24 hours, we also got positive news from the domestic "front." The post-holiday spike in the U.S. still seems to be much less pronounced than in Europe, and the positive reports regarding J&J’s serum make a quicker vaccine rollout possible. Compared to the other vaccinations, J&J’s only requires one shot, while being highly effective and relatively cheap as well. Vaccination programs are also gathering speed globally, even though most developing countries will likely be severely lagging behind the wealthiest nations. "Mankind must put an end to war, before war puts an end to mankind" John F. Kennedy As always, have a great evening and stay tuned!!!

Stocks Edge Higher As House Approves Impeachment Hi Everyone, We had another divergent day at the level of the main sectors, as the stimulus-fueled rally in small-caps paused. Cyclical issues pulled back once again following yesterday’s promising rally, but financials performed better than energy stocks and industrials, despite the drop in Treasury yields. The defensive healthcare sector and rate-sensitive utilities and real estate stocks led the rally, while Intel (INTC, +7%...) and stay-at-home stars Amazon (AMZN, +1.4%) and Netflix (NFLX, +2.7%) pulled their weight in the relatively strong tech sector. Traders said that despite the mixed day for stocks, today’s low-volatility consolidation was a confidence-boost for bulls. As one trader explained, "The dollar pushed higher while overseas risk assets struggled today, so the fact that stocks didn’t resume Monday’s selloff once again confirmed the underlying bullish trend. Never ruin an apology with an excuse!" Benjamin Franklin As always, have a great evening and stay tuned!!!

LPL Financial's Outlook 2021: Powering Forward Given the challenges that we all experienced in 2020, I wanted to share with you LPL Financial's annual "Outlook" on the year ahead of us for 2021!... In this brief video and in the attachments below, my goal, to the best of my ability, is to assist in the management of expectations during the uncertain times we have faced. Click the link to watch the brief 2 minute video from our friend Ryan Detrick, LPL Financial's Chief Market Strategist! https://share.vidyard.com/watch/Ssd242HK8YqXr8HWWqedvy?

Hi Everyone, The main sectors diverged substantially again, as the stimulus-related flows, the wild swings in Treasuries, currencies, and commodities all shaped the market. Industrials, financials, and materials all fared well, but the energy sector was the strongest by a wide margin thanks to oil’s new recovery high. Consumer discretionaries were helped by Tesla’s (TSLA, +4.7%) rebound and the rally in most virus-sensitive industries, while the recovery in the retail sector ...also gained momentum today with domestic-focused companies leading the rally. Traders said that today’s choppy session left many questions unanswered with regard to the short-term trend on Wall Street. As one trader explained, "While the Russell’s new all-time high and the rally in cyclicals was a huge plus for bulls today, yesterday’s selloff did some damage in the tech sector, and most tech giants struggled today as well, which is a warning sign for the rest of the week. While the second impeachment against the President is not yet official, the House will likely vote on the matter by the end of Wednesday, but Thursday could be even more important from a political perspective. Joe Biden is expected to announce the details of his COVID relief plan, and that could cause major waves across the board even following the strong rally among small-caps and cyclicals. Analysts widely expect another stimulus check, but investors will likely focus on the structure of his other plans, which could lead to wild swings in the most-affected sectors. Small-Caps Shine Again Vaccine Rollout Gains Speed The COVID-related headlines continue to be mixed and confusing for investors, as even though the long-term picture continues to slowly improve, the worrisome short-term trends are still weighing on sentiment across the globe. The U.S. vaccine push has been accelerating in the first days of the New Year, and thanks to that, over 9 million doses have already been used in less than a month, which is still not enough to have a material impact on the current outbreaks. The new lockdowns in China and the surging cases in Europe also add to the short-term fears, so volatility could increase in coming weeks. When you are finished changing, you're finished!" Benjamin Franklin As always, have a great evening and stay tuned!!!

"Keep you eyes on the stars and your feet on the ground" - Theodore Roosevelt