Stocks notched a solid gain last week as upbeat comments from the Fed helped stocks snap their four-week losing streak.  

The Standard & Poor’s 500 Index rose 0.51 percent, while the Nasdaq Composite Index picked up 0.17 percent. The Dow Jones Industrial Average led, gaining 1.20 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, rose 0.75 percent.^1,2

A Solid Week
Stocks opened the week higher despite weaker-than-expected retail sales. On Tuesday, stocks pulled back on disappointing economic data and renewed Middle East tensions.^3,4

Stocks roared higher Wednesday as investors looked forward to the Federal Reserve’s meeting. As widely expected, the Fed kept rates steady, but Fed Chair Powell’s comments buoyed investors’ spirits.⁵

Stocks dipped Thursday and opened lower Friday, but investors showed some confidence by pushing prices higher into Friday’s close.⁶

The Fed Stays Positive

Amid all the market turbulence of late, the Fed was a steadying influence.

At his post-meeting press conference, Fed Chair Powell stressed that the economy remained strong and suggested that any impact from tariffs on inflation would be short-term.

But the primary reason investors cheered came down to this: most Fed officials still penciled in two interest rate cuts for this year. In late January, Powell said the central bank was in no hurry to adjust its policy stance, which unsettled the markets.⁷

This Week: Key Economic Data

Monday: PMI Composite—Services and Manufacturing.

Tuesday: Case-Shiller Home Price Index. Consumer Confidence. New Home Sales.

Wednesday: Durable Goods Orders. St. Louis Fed President Alberto Musalem speaks.

Thursday: Gross Domestic Product (GDP). Trade Balance in Goods. Weekly Jobless Claims. Retail & Wholesale Inventories. Pending Home Sales. Richmond Fed President Tom Barkin speaks.

Friday: Personal Consumption & Expenditures (PCE) Index. Consumer Sentiment.

^{Source: Investors Business Daily – Econoday economic calendar; March 21, 2025
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

Tuesday: McCormick & Company, Incorporated (MKC, MKC.V), GameStop Corp. (GME)

Wednesday: Cintas Corporation (CTAS), Paychex, Inc. (PAYX)

Thursday: Lululemon Athletica Inc. (LULU)

^{Source: Zacks, March 21, 2025. 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.}

“There’s only one corner of the universe you can be certain of improving, and that’s your own self.”

– Aldous Huxley

A Checklist of Common Errors When Preparing Your Tax Return

Properly preparing your tax return can be tricky, but here are some tips to help you avoid common errors:

• Submitting your tax return online ensures greater accuracy than mailing it in. The e-file system can detect common errors and send your filing back to you for you to correct, saving you a ton of time in processing and delays.
• Print or type your full name, taxpayer identification number (SSN), and address (including zip code) clearly.
• Choose only one correct filing status.
• Enter your income on the correct lines and include a Form 1040 to declare additional income and adjustments as needed.
• Put brackets around negative amounts.
• Keep a copy of the signed return and schedules for your records.

This information is not a substitute for individualized tax advice. Please discuss your specific tax issues with a qualified tax professional. 

Tip adapted from IRS⁸

What is Mindfulness?

You may have heard various definitions of mindfulness here and there or have your own ideas about what it is. Do you completely clear your mind? Is there more to it?

Interestingly, mindfulness is as simple as it sounds. It refers to being fully present in where and what you’re doing. You can practice mindfulness while driving, walking your dog, or playing with your children. It’s practicing being in the here and now and not letting your mind take you out of the present moment. These obsessive thoughts can lead to anxiety and stress. 

To practice mindfulness, take a simple activity, like drinking your cup of coffee, and think about every sensation you’re experiencing. It takes practice, but is worth it to improve your mental strength!

Tip adapted from Mindful⁹

Out of the 100 years in the 20th century, there is only one that reads the same upside down as it does right side up. What year is it?

Last week’s riddle: I twist, I turn, but I don’t have curves. You can twist me to fix me, but you may throw me into disarray in the process. Hours later, you may cast me away. What am I?
Answer: A Rubik’s cube.

Morning mists over the Tarn
Millau, France

Investors endured another volatile, whipsaw week as ongoing trade talks and White House comments about the economy unsettled investors.

The Standard & Poor’s 500 Index declined 2.27 percent, while the Nasdaq Composite Index dropped 2.43 percent. The Dow Jones Industrial Average fell 3.07 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, lost 0.95 percent.^1,2

Markets Stem Losses

Stocks opened the week lower as investors reacted to the president’s weekend comments about the economy. Then, U.S. and Canadian leaders traded additional tariff threats, riling up anxious investors.^3,4

Stocks rebounded midweek after a cooler-than-expected Consumer Price Index (CPI) report eased growing inflation concerns.⁵

The broad market slide resumed Thursday, but better-than-expected February wholesale inflation data helped buffer losses. The S&P 500 ended Thursday in correction territory—10 percent below its February 19 record close.⁶

Markets pushed higher Friday, clawing back some losses for the week. News of progress in resolving the federal government shutdown soothed investors’ nerves.⁷

Sunny Side ‘Down’

Fewer CPI constituents garner more attention from consumers right now than the price of eggs. Avian bird flu—and the subsequent culling of millions of chickens—was primarily to blame for prices rising 15 percent in January and another 10 percent in February. While recent evidence suggests prices have dropped, the cost of eggs remains a sticky issue—even though prices of many other items have risen just as much, if not more.^8,9

So why do consumers appear to be overly uneasy?

One theory is that eggs symbolize something more significant. Not only are eggs a critical, inexpensive source of protein and nutrients for millions of consumers, but they are also a core part of many other foods made at home or mass-produced. For that reason, eggs are a mental proxy for how consumers believe the broader economy is doing.¹⁰

This Week: Key Economic Data

Monday: Retail Sales. Business Inventories. Homebuilder Confidence Index.

Tuesday:  Housing Starts and Permits. Import & Export Prices. Industrial Production. Capacity Utilization. Federal Open Market Committee (FOMC) meeting—Day 1.

Wednesday:  FOMC meeting—Day 2. Fed Announcement/ Fed Chair Press Conference.

Thursday:  Existing Home Sales. Weekly Jobless Claims. Leading Indicators.

Friday:  Federal Reserve Official John Williams speaks.

^{Source: Investors Business Daily – Econoday economic calendar; March 13, 2025
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

Wednesday:  General Mills, Inc. (GIS)

Thursday:  Nike, Inc. (NKE), Micron Technology, Inc. (MU), FedEx Corporation (FDX)

^{Source: Zacks, March 13, 2025. 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.}

“It takes 20 years to build a reputation and five minutes to ruin it.”

– Warren Buffett

If You Didn’t Receive Your W-2

If you don’t receive your W-2 or 1099 by January 31 of the year, you are filing taxes, or if the information on these forms is incorrect, contact your employer/payer. If you still haven’t received the forms you need by the end of February, you can contact the IRS at 800-829-1040, and they may be able to help. 

When you contact the IRS, they will also reach out to the employer/payer for the information you need, and they will also send you Form 4852, a substitute for a W-2 or 1099. To do this, they will ask for your employer/payer’s name, address, and phone number (as well as your information).

This information is not a substitute for individualized tax advice. Please discuss your specific tax issues with a qualified tax professional.

Tip adapted from IRS¹¹

How to Make Hummus

Hummus is a dip made primarily from garbanzo beans and is great on pita bread, veggies, or chicken. Here’s how to make hummus:

1. In a food processor or blender, combine ¼ cup tahini (sesame paste) with ¼ cup fresh lemon juice—process for one minute.
2. Add 2 tablespoons olive oil, ½ teaspoon ground cumin, ½ teaspoon of salt, and 1 minced garlic clove to the mix and process until well-blended in 30-second increments (about a minute).
3. Add half a can (¾ cup) of rinsed chickpeas and process for 1 minute. Then, add the other half of the can and process another 1-2 minutes.
4. If your hummus still has bits of chickpeas, process it a bit more while slowly adding 2-3 tablespoons of cold water. 
   

Tip adapted from Inspired Taste¹²

I twist, I turn, but I don’t have curves. You can twist me to fix me, but you may throw me into disarray in the process. Hours later, you may cast me away. What am I?

Last week’s riddle: What binds two people together yet touches only one person at a time?
Answer: An individual wedding ring.

Under the Hood

The Institute for Supply Management (ISM) published fresh manufacturing data on Monday. Although headline numbers were decent, a closer look revealed that new orders dropped in January from a years-long high into correction territory while deliveries and prices paid jumped.⁸

This Week: Key Economic Data

Tuesday:  Job Openings. NFIB Small Business Optimism Index.

Wednesday:  Consumer Price Index (CPI). Federal Budget. Treasury Announcement.

Thursday:  Producer Price Index (PPI). Initial Jobless Claims.

Friday:  Consumer Sentiment.

^{Source: Investors Business Daily – Econoday economic calendar; March 7, 2025
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

Monday:  Oracle Corporation (ORCL)

Wednesday:  Adobe Inc. (ADBE)

^{Source: Zacks, March 7, 2025. 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.}

“Surround yourself with people only who are going to take you higher.”

– Oprah Winfrey

Are Medical and Dental Expenses Tax-Deductible?

If you file your taxes using itemized deductions, you may be able to deduct medical and dental expenses for yourself, your spouse, and your dependents. According to the IRS, you may deduct only the total medical expenses exceeding 7.5% of your adjusted gross income.

Some types of medical care expenses that may be deductible include:

• Payments for the diagnosis, cure, treatment, and prevention of a disease
• Payments to doctors, dentists, surgeons, chiropractors, psychiatrists, psychologists, and nontraditional medical practitioners
• Paying for inpatient hospital care or nursing home care
• Fees associated with inpatient treatment for alcohol or drug addiction
• Payments to participate in a weight-loss program for a specific disease diagnosed by a doctor (such as obesity)

This information is not a substitute for individualized tax advice. Please discuss your specific tax issues with a qualified tax professional. 

Tip adapted from IRS⁹

Perfect Your Pigeon Pose

If you sit a lot at work or have tight hips, the pigeon pose (a popular pose in yoga) might help. It’s a simple pose that anyone can do, even if you don’t have experience practicing yoga. Here’s how to do it:

• First, start on all fours with your hands shoulder-width apart and your knees hip-width apart.
• Next, bring your right knee close to your right wrist and get your shin parallel to the mat’s top.
• Then, bring your left leg back behind you and rest on the mat with your thigh, knee, and shin touching it.

Some find sitting in this pose with their chest upright enough. To increase the intensity of the pose, they lean forward, rest their forearms on the mat, and rest their heads on their hands.

Tip adapted from Healthline¹⁰

What binds two people together yet touches only one person at a time?

Last week’s riddle: Lidia immediately went bankrupt after the car she was pushing around stopped in front of a hotel. It sounds sad, but she wasn’t upset. What was she doing?
Answer: She was playing Monopoly.

Lady Franklin Fjord Polar Bear  
Nordaustlandet, Svalbard, Norway

Footnotes and Sources

^{1. The Wall Street Journal, March 7, 2025}

^{2. Investing.com, March 7, 2025}

^{3. The Wall Street Journal, March 3, 2025}

^{4. CNBC.com, March 4, 2025}

^{5. CNBC.com, March 5, 2025}

^{6. CNBC.com, March 6, 2025}

^{7. MarketWatch.com, March 7, 2025}

^{8. The Wall Street Journal, March 4, 2025}

^{9. IRS.gov, September 26, 2024}

^{10. Healthline, October 3, 2024}