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Harbour Trust & Investment Mgmt

Mike Hackett
Vice President & Trust Officer
1024 N Karwick Road
Michigan City, IN 46360
219-877-3500
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www.harbourtrust.com

 

Harbour Trust Newsletter

Clients of HTC

October 2019

 

Earnings Season: What Investors Can Take Away from Corporate Reports
The media hype surrounding an earnings surprise can sometimes draw attention away from important details that may be revealed in a company's quarterly report.

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Five Times in Your Life When You Might Need Help with Your Finances
As you move through different stages of life, you will face new and unique financial situations.

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Balancing 401(k) and HSA Contributions
If you have the option to contribute to both a 401(k) and an HSA, you might wonder how much to contribute to each. Here are some points to consider.

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What health services aren't covered by Medicare?
When planning your retirement health-care strategy, be sure to consider the services that Medicare won't cover.

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How much will health care cost?
Retirement health-care costs will vary depending on your health and longevity, but it may help to have a guideline.

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Stocks ran hot and cold in July, influenced by worsening global economic conditions, ongoing trade negotiations with China, and lagging domestic business investment. While the Fed's decision to reduce short-term interest rates was not unexpected, stocks were sent reeling, closing out the month on a bit of a sour note. Despite analysts and Wall Street predicting the interest rate reduction, some experts questioned the timing, particularly in the event of a deeper economic downturn in the future. Corporate earnings reports in July were generally positive, driving stock prices higher. Low unemployment, increased consumer spending, and moderate wage increases helped insulate domestic investors from an otherwise global economic downturn.

By the close of trading on the last day of the month, only the Global Dow was unable to surpass its June closing value. Otherwise, each of the benchmark indexes listed here posted monthly gains, led by the Nasdaq and the S&P 500. Year-to-date, the tech stocks of the Nasdaq continue to lead the way, climbing over 23% above their 2018 closing mark. In fact, each of the benchmark indexes listed here are well above their end-of-year values. While long-term bond yields inched up in July, for the year, escalating bond prices have kept yields down.

By the close of trading on July 31, the price of crude oil (WTI) was $57.88 per barrel, down from the June 28 price of $58.16 per barrel. The national average retail regular gasoline price was $2.715 per gallon on July 29, up from the June 24 selling price of $2.654 but $0.131 less than a year ago. The price of gold rose by the end of July, climbing to $1,426.10 by close of business on the 31st, up from its $1,413.30 price at the end of June.

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On our nation's birthday

Hope you have a blast on the 4th of July!

Mike Hackett
Harbour Trust & Investment Mgmt

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Stocks fell sharply in May, closing out their worst month since last December. Each of the benchmark indexes posted month-over-month losses exceeding 6.5%. While market performance has largely swung on trade rhetoric, it appears investors have reached their boiling point and are moving away from stocks and floating toward bonds, pushing yields on 10-year Treasuries down (-37 bps in May) as bond prices soared. Oil prices fell sharply on trade tensions and a slowing Chinese economy. For the month, small caps and tech stocks lost almost 8.0%, followed by the large caps of the Dow and the S&P 500. Year-to-date, only the Nasdaq remains more than 10% ahead of its 2018 closing value. 

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Building Relationships

As a small nonprofit, we are proud to work with Harbour Trust. They not only manage our investments wisely, but also exhibit great dedication to our region. The Harbour Trust team believes in working together as a community to improve our quality of life.

— Save The Dunes Conservation Fund - Northwest Indiana Not For Profit

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Security

As an independent Trust Company we have been granted a charter of operation from the Indiana Department of Financial Institutions...

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1024 N Karwick Road
Michigan City, Indiana 46360
Business: 219.877.3500
Toll Free: 888.649.8969
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