Stocks posted losses in a holiday-shortened trading week as the first-quarter earnings season kicked off and investors digested new inflation data. The Dow Jones Industrial Average declined 0.78%, while the Standard & Poor’s 500 fell 2.13%. The Nasdaq Composite index dropped 2.63% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, lost 1.20%.1,2,3
This Week: Key Economic Data
- Tuesday: Housing Starts.
- Wednesday: Existing Home Sales.
- Thursday: Jobless Claims. Index of Leading Economic Indicators.
- Friday: Purchasing Managers’ Index (PMI) Composite Flash.
This Week: Companies Reporting Earnings
- Monday: Bank of America Corporation (BAC), J.B. Hunt Transport Services, Inc. (JBHT).
- Tuesday: Netflix, Inc. (NFLX), Johnson & Johnson (JNJ), International Business Machines Corporation (IBM), Lockheed Martin Corporation (LMT), Prologis, Inc. (PLD).
- Wednesday: Tesla, Inc. (TSLA), The Procter & Gamble Company (PG), Lam Research Corporation (LRCX), CSX Corporation (CSX).
- Thursday: AT&T, Inc. (T), United Airlines Holdings, Inc. (UAL), Snap, Inc. (SNAP), Blackstone, Inc. (BX), Union Pacific Corporation (UNP), Dow, Inc. (DOW).
- Friday: Verizon Communications, Inc. (VZ), American Express Company (AXP), KimberlyClark Corporation (KMB).
Electronic Filing Options for Military Families
The Internal Revenue Service (IRS) offers a number of online resources for military members and their families. Some of these resources include:
- IRS Free File. This program offers online tax preparation, electronic filing and direct deposit of refunds, at no cost.
- Members of military and their families who have income below $72,000 can choose from any of the Free File tax software companies that the IRS has compiled.
- Free File Fillable Forms is available for those who have income above $72,000.
- Using Free File can help taxpayers figuring things like their earned income tax credit, child and dependent care credit and Recovery Rebate Credit.
- Miltax is another free tax resource available for the military community, offered through the Department of Defense.
* This information is not intended to be a substitute for specific, individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax professional. Tip adapted from IRS.gov6
Footnotes and Sources
- The Wall Street Journal, April 14, 2022
- The Wall Street Journal, April 14, 2022
- The Wall Street Journal, April 8, 2022
- CNBC, April 12, 2022
- The Wall Street Journal, April 13, 2022
- IRS.gov, February 25, 2021
- Gardeners.com, April 9, 2021
Paul Ellis, CIMA® may be reached at 425.405.7720 or paul.ellis@elliswealthmanagement.net.
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