Scott Peterson Market Watch
Last week was the anniversary of Black Monday. On Oct. 19, 1987, the Dow Jones Industrial Average (Dow) lost 508 points, or more than 20 percent of its value, as it fell from the previous trading day’s closing value of 2,247 to 1,739.
The anniversary didn’t put a hitch in the markets’ giddy up last week, though. The Dow closed above 23,000 for the first time ever on Wednesday. That’s the fourth thousand-point milestone the Dow has passed this year, according to Reuters.
Financial Times wrote:
“U.S. stocks hit record highs yet again and the dollar touched its strongest level against the yen for more than three months as growth bulls applauded news that the Senate had adopted a fiscal 2018 budget resolution, opening the way for tax reform. U.S. Treasuries fell – most sharply at the longer end of the curve – as participants fretted about the prospect of increased federal borrowing and potentially higher inflation.”
Know what can be really scary? Warehouse clubs.
Like horror flick fodder (extras and co-stars who ignore their gut instincts and venture into places they shouldn’t), people go into warehouse clubs thinking they’ll be able to buy just the items they need. In reality, only shoppers with the preternatural ability to avoid impulse purchases manage it, reports AARP Magazine.
That doesn’t mean you won’t find good deals at warehouse clubs. You will, but you have to exercise tremendous self-discipline. AARP Magazine and Kiplinger’s offered insight to some of the better values at warehouse clubs.
Wine. Here’s a shocker: One warehouse club is the biggest wine retailer in the country, according to MarketWatchMag.com. Reasonably priced, signature brands of quality wines and alcohol have been helping warehouse clubs attract members and improve sales.
Batteries. With the holidays approaching, you’re going to need batteries for everything from drones to remote controls to digital games. Warehouse clubs often have competitively priced options.
Weekly Focus – Think About It
“Today [Amy] starts shopping from her couch by launching a videoconference with her personal concierge at…the retailer where she bought two outfits the previous month. The concierge recommends several items, superimposing photos of them onto Amy’s avatar. Amy rejects a couple of items immediately, toggles to another browser tab to research customer reviews and prices, finds better deals on several items at another retailer, and orders them. She buys one item from [the retailer] online and then drives to the…store near her for the in-stock items she wants to try on. As Amy enters [the retailer], a sales associate greets her by name and walks her to a dressing room stocked with her online selections – plus some matching shoes and a cocktail dress. She likes the shoes, so she scans the bar code into her smartphone and finds the same pair for $30 less at another store. The sales associate quickly offers to match the price…”
--Darrell K. Rigby, The Future of Shopping
D. Scott Peterson is CEO and head investment manager for Peterson Wealth Management. If you wish to contact him please call 775-673-1100 or visit PetersonWM.com.