Lately I’ve read more than one story about how U.S. workers are earning more than ever which makes me scratch my head with wonder, “How, in fact, can that be when some of our favorite—and long-standing– stores are closing?”
No wise answer from me on that one. But below is a list of the various stores that have or will be closing some or all of their shops.
According to CNBC.com, here are some of the companies that have either filed for Chapter 11 bankruptcy protection or Chapter 7 so far in 2017: The Limited; Wet Seal; Eastern Outfitters; BCBG Max Azria; Vanity; Hhgregg; RadioShack; Gordmans; Gander Mountain; Payless ShoeSource; Rue 21; Gymboree; Cornerstone Apparel, the owner of Papaya Clothing; True Religion Apparel; Alfred Angelo; Perfumania; Vitamin World; Aerosoles; and Toys R Us.
I already miss RadioShack. And Payless. And Hhgregg. And….
Market Quick Glance
It was a week of gains for two of the four indices followed below. Additionally, the DJIA and S&P 500 closed at new highs for the year. All according to data from CNBC.com based on prices at the close of business on Friday, Sept. 22, 2017.
Below are the weekly and 1-year index performance results— including the dates each reached new highs.
-DJIA +13.09 YTD up from last week’s 12.68%.
- 1 yr Rtn +21.51% down from last week’s 22.27%
A new all-time high for the DJIA of 22,419.51 was reached on Sept. 21, 2017. The previous high of 22,275.02 was reached on September 15, 2017.
On March 1, the all-time high on that date for the year was 21,169.11.
-S&P 500 +11.76 % YTD up a tad from last week’s 11.68%.
- 1yr Rtn +14.93% down from last week’s +16.44%
The S&P 500 reached a new high of 2,508.85 on September 20, 2017. The previous high of 2,500.23 was reached on September 15, 2017.
On March 1, 2017, that index closed at its then all-time high of 2,400.98.
-NASDAQ +19.39% YTD down from last week’s +19.79%.
- 1yr Rtn +20.37% down from last week’s 22.84%
The Nasdaq reached its latest new all-time high on September 18, 2017 of 6,477.77. Its previous high was reached September 15, 2017 closing at 6,464.27.
On April 5, 2017 the index closed at 5,936.39.
-Russell 2000 +6.90% YTD up a heap from last week’s +5.50%.
- 1yr Rtn +14.83% down from last week’s +16.68%
The Russell 2000 reached its latest all-time high of 1,452.09 on July 25, 2017.
On March 1, 2017 the then high of this index was 1,414,82.
Picking up a bit of steam, the year-to-date average cumulative total reinvested return for equity funds falling under the broad U.S. Diversified Equity Funds heading ended the week at 10.70% on Thursday, September 21, 2017. That’s up from the previous week’s close of 10.11%, according to Lipper.
In case you were wondering, the average y-t-d- return for the 4,501 funds that fall under the World Equity Funds heading was 22.69%; for the 5,887 funds that fall under the Mixed Asset Funds heading was 9.50l and for the 2,282 different Sector Equity Funds was 7.95%.
Visit www.allaboutfunds.com for more information about how various equity and fixed-income funds have rewarded investors over the short-and long-term, based upon Lipper data. Short-term meaning weekly and monthly performance returns; longer-term includes quarterly, year-to-date, 1-yr, 2-yr, 3-yr and 5-yr returns.
Talking both sides
We all know that this bull market has gone on even longer that many had expected.
Although when and why its upward trend in index results will come to an end continues to be anybody’s guess. But that doesn’t stop financial talking heads from making predictions.
One such head reporting in last week came from TIAA Investments’s Brian Nick.
Nick is expecting to see a four percent decline in their firm’s target for the S&P 500 by year-end. That would put it at 2400.
But wait, there’s more.
Nick also thinks that this current bull market still has room to run. By the end of 2018—that’s next year—the target his firm has put on the S&P 500 is 2600.
Neither of which does little to make feeling comfortable or cozy about staying in the market or investing new money very easy.