Author: Ramsay Capital Group

Weekly Market Insights | Wall Street Reacts to Middle East Conflict

Stocks ended a challenging week lower as investors’ attention shifted from updates on ceasefire talks to concerns about the economic impact of a protracted conflict.

The Standard & Poor’s 500 Index lost 2.12 percent, while the Nasdaq Composite Index fell 3.23 percent. The Dow Jones Industrial Average slid 0.90 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, ended the week flat (-0.05 percent).1,2

Challenging Week

Stocks opened higher to start the week as fresh optimism for a resolution to the Middle East conflict permeated market sentiment, and no further news on Iraq’s force majeure declaration appeared to help momentum. Both the Dow Industrials and S&P 500 booked their best day since early February as the White House reported “very good and productive conversations” to end hostilities.3

Markets were under pressure on Tuesday but staged a recovery rally midweek amid reports that Pakistan was mediating ceasefire talks. All three major averages posted solid gains, though it appeared that retail investors remained on the sidelines.4

The upbeat sentiment was short-lived. Markets were under steady pressure Thursday despite news after the close of trading that the White House was extending the previous pause on military strikes on Iranian energy infrastructure by an additional 10 days. The selling picked up on Friday. The Nasdaq and Dow Industrials fell into correction territory, while the S&P suffered its longest weekly losing streak in almost four years.5

Footnotes And Sources

1. WSJ.com, March 27, 2026
2. Investing.com, March 27, 2026
3. CNBC.com, March 16, 2026
4. CNBC.com, March 24, 2026
5. WSJ.com, March 27, 2026

Tax Tip | Owe the IRS Money? Here’s How to Pay

If you owe federal taxes, you may be required to pay by the April deadline. Remember, if you get an extension to file your taxes, payment is still due by the April deadline. You can set up a payment plan if you can’t pay the full amount you owe now.
Here are some choices for making your payment:

  • Use Direct Pay: Internal Revenue Service (IRS) Direct Pay is a free and secure way to pay directly from your checking or savings account.
  • Pay by Debit or Credit Card: If you don’t want to link a bank account, you can use your credit or debit card. Remember that you’ll have to pay a processing fee and may incur interest charges.
  • Pay When You E-File: If you file your federal tax return electronically, you can pay directly from your bank account using Electronic Funds Withdrawal.

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

Tip adapted from IRS.gov8

Footnotes And Sources

8. IRS.gov, May 29, 2025

Weekly Market Insights | Supreme Court Rules Against White House Tariffs

Stocks ended a choppy four-session run in the green, with tech-led momentum earlier in the week prevailing over news of a slowing economy, sticky inflation, and geopolitical tensions.

The Standard & Poor’s 500 Index advanced 1.07 percent, while the Nasdaq Composite Index rallied 1.51 percent. The Dow Jones Industrial Average inched up 0.25 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, rose 0.75 percent.1,2

Focus on Tech

Stocks kicked off the shortened trading week with a yawn as continuing investor angst over AI disruption in the software industry kept gains modest.3

But tech-led market momentum picked up—including gains from lesser-known names—as investors digested minutes from the Fed’s January meeting.4

Stocks then came under pressure as investors fretted over geopolitical tensions in the Middle East and concerns about private credit in the financial sector.5

Markets rallied on Friday after the Supreme Court struck down the White House tariffs. The news overshadowed a sticky inflation report and a disappointing update on Q4 gross domestic product (GDP), which was hurt by federal spending during the government shutdown.6

Friday Focus

All week, the markets were eyeing the Friday economic updates and were a bit surprised at the timing of the tariff news.

GDP rose 1.4 percent in Q4, lower than the 2.5 percent expected and slower than the 4.4 percent pace in Q3. The slowdown reflected declines in federal and consumer spending.7

While the Supreme Court’s ruling on tariffs had been expected, the news still took investors by surprise when it arrived on Friday. The decision was widely expected, but the timing of the news was uncertain. Investors appeared to welcome the news, as companies may have greater pricing flexibility without tariffs.

Footnotes And Sources

1. WSJ.com, February 20, 2026
2. Investing.com, February 20, 2026
3. CNBC.com, February 17, 2026
4. CNBC.com, February 17, 2026
5. CNBC.com, February 19, 2026
6. WSJ.com, February 20, 2026
7. WSJ.com, February 20, 2026

Tax Tip | Know and Understand Your Correct Filing Status

Taxpayers should understand their filing status well and at least be familiar with the other choices.

When preparing and filing a tax return, the filing status affects:

  • If the taxpayer is required to file a federal tax return
  • Their standard deduction amount
  • If they can claim certain credits
  • The amount of tax they should pay

Here are the five filing statuses:

Single: This status is normally for taxpayers who are unmarried, divorced, or legally separated under a divorce or separate maintenance decree governed by state law.

Married filing jointly: If a taxpayer is married, they can file a joint tax return with their spouse. When a spouse passes away, the widowed spouse can usually file a joint return for that year.

Married filing separately: Married couples can choose to file separate tax returns in certain circumstances.

Head of household: Unmarried taxpayers may be able to file using this status, but special rules apply.

Qualifying widow(er) with dependent child: This status may apply to a taxpayer if their spouse died during one of the previous two years and they have a dependent child. Other conditions also apply.

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

Tip adapted from IRS.gov9

Footnotes And Sources

9. IRS.gov, July 8, 2025

Weekly Market Insights | Kevin Warsh Nominated to Fed Chair

Stocks were mixed last week as investors navigated Q4 corporate results, a widely expected Fed decision, and a handful of economic reports.

The Standard & Poor’s 500 Index rose 0.34 percent, while the Nasdaq Composite Index edged down 0.17 percent. The Dow Jones Industrial Average declined 0.42 percent. By contrast, the MSCI EAFE Index, which tracks developed overseas stock markets, rose 1.22 percent.1,2

S&P 500 Touches 7,000

The S&P 500 and Nasdaq advanced early in the week as investors looked ahead to the Fed meeting and corporate results from several large companies.3,4

On Wednesday, the Federal Reserve decided to keep interest rates steady, as widely expected. Market reaction was muted, with all three major averages little changed by the close. Disappointing earnings results from one megacap tech firm, announced after the market closed on Wednesday, unsettled investors and dragged the Nasdaq down on Thursday.5,6

Stocks opened lower Friday, after the White House nominated Fed veteran Kevin Warsh as the next Fed chair. A warmer-than-expected December wholesale inflation report and concerns about a government shutdown added to bearish investor sentiment as the week wrapped up.7

The Fed Holds Steady

The Fed funds rate was held at its current 3.5 percent to 3.75 percent target range at its January meeting. The decision followed three consecutive meetings at which the Fed cut rates; it marked the first time the Fed held rates steady since July. The next Fed meeting is in mid-March.8

At the post-meeting press conference, Fed Chair Powell did not answer any questions regarding the Justice Department’s investigation. The January 19, 2026, issue of Weekly Market Insights misstated the status of the investigation concerning the Fed Chair by referring to it as an indictment. We regret any confusion.

Footnotes And Sources

1. WSJ.com, January 30, 2026
2. Investing.com, January 30, 2026
3. CNBC.com, January 26, 2026
4. CNBC.com, January 27, 2026
5. CNBC.com, January 28, 2026
6. WSJ.com, January 29, 2026
7. CNBC.com, January 30, 2026
8. WSJ.com, January 28, 2026

Tax Tips for Those in the Military

The Internal Revenue Service has certain special tax breaks and programs for members of the U.S. Armed Forces.

Earned Income Tax Credit
You may include nontaxable combat pay as part of your taxable income. Including it may boost your earned income tax credit, resulting in you owing less and potentially a larger refund.

Signing Joint Returns
As a rule, both spouses normally must sign a joint income tax return. If your spouse is absent due to military duty, you may be able to sign for your spouse. However, you may need a power of attorney to file a joint return.

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

Tip adapted from IRS.gov9

Footnotes And Sources

9. IRS.gov, August 15, 2025

Weekly Market Insights | Powell Keeps Cool in the Hot Seat

Stocks ended last week with modest losses after a volatile five days of market-moving economic data, geopolitics, and Fed drama.

The Standard & Poor’s 500 Index slid 0.38 percent, while the Nasdaq Composite Index skidded 0.66 percent. The Dow Jones Industrial Average edged down 0.29 percent. By contrast, the MSCI EAFE Index, which tracks developed overseas stock markets, rose 1.41 percent.1,2

Choppy Trading 

Stocks started the week lower after pre-opening bell news that the Justice Department had launched a criminal investigation into Federal Reserve Chair Jerome Powell. A statement issued Tuesday morning by central bankers worldwide helped tamp down market volatility.3,4

The White House called for a 10 percent cap on credit card interest rates for 1 year, putting pressure on financial stocks. Meanwhile, news that headline inflation matched forecasts while core inflation came in cooler than expected was well received by investors.5,6

Despite solid retail sales and wholesale inflation reports for November, stocks were under pressure on Wednesday due to geopolitical tensions and disappointing Q4 results from a handful of financial stocks.7

Then chip manufacturers and banks led a rebound, recouping most of the week’s losses. Markets opened higher on Friday but then slid after the president backtracked on his preferred candidate to be the next Fed Chair. His comments led investors to believe that his new choice would be more market-friendly but perhaps less likely to adjust interest rates.8

Fed Drama

Tensions between the White House and the Federal Reserve escalated last week after the Justice Department issued a criminal indictment against Fed Chair Powell.

Powell, typically calm and collected in the face of criticism, posted an assertive video Sunday night. By the close of the week, however, investors seemed to have moved past the Fed drama as there was plenty of other news to follow.

Footnotes And Sources

1. WSJ.com, January 16, 2026
2. Investing.com, January 16, 2026
3. CNBC.com, January 12, 2026
4. WSJ.com, January 12, 2026
5. WSJ.com, January 13, 2026
6. WSJ.com, January 13, 2026
7. CNBC.com, January 14, 2026
8. CNBC.com, January 16, 2026

Tax Benefit and Credits: FAQs for Retirees

Many questions can arise about income taxes after retirement. Listed are answers to just a few common questions from retired taxpayers.

What types of income are taxable?
Some common types of taxable income include all or part of pension and retirement account income, gambling income, and alimony or prizes.

What types of income are non-taxable?
A few examples of non-taxable income include veterans’ benefits, disability pay for specific military or government-related incidents, workers’ compensation, and cash rebates from a dealer or manufacturer of an item you have purchased.

Why is my pension taxed?
It may depend on how the money was put into the pension. For example, if the money was not taxed before going into the plan, it may be taxable. Conversely, if your contribution is from already-taxed dollars, that portion of the pension may not be taxed.

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

Tip adapted from IRS.gov8

Footnotes And Sources

8. IRS.gov, August 18, 2025

Weekly Market Insights | Santa Brings Joy for the DJIA

Stocks posted solid gains in an action-packed week of market-moving economic data, geopolitical news, and bullish new year sentiment.

The Standard & Poor’s 500 Index gained 1.57 percent, while the Nasdaq Composite Index added 1.88 percent. The Dow Jones Industrial Average rose 2.32 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, advanced 1.41 percent.1,2

Santa Visits Dow, But Not S&P, Nasdaq

Stocks rose early Monday, led by the Dow Industrials, as investors looked past the news from Venezuela.

By Monday’s close, the Dow Industrials had gained enough to make the “Santa Claus Rally” a reality, pushing the Average to a 1.1 percent gain for the seven-session period (the last five trading days of 2025 and the first two of 2026). However, the S&P and Nasdaq came up short.3

All three major averages continued their rise through midweek as the AI trade—led by chip manufacturers—helped momentum. The Dow Industrials crossed the 49,000 level for the first time, and both the S&P 500 and Dow hit record closes as well as all-time intraday highs.4

The Dow then moved back into the “pole position” over the next session as investors appeared to rotate out of technology stocks and into other sectors, including cyclical stocks. Defense stocks got a boost from the president’s call for a $1.5 trillion annual defense budget in 2027—higher than the Pentagon’s target.5,6

The December jobs report, released on Friday, showed modest job gains and a slight decline in the unemployment rate. Investors cheered the news, believing the update gave the Fed some flexibility with rates at its January meeting.7

Jobs Report

The Labor Department’s latest employment report showed a net gain of 50,000 jobs last month while unemployment ticked down to 4.4 percent, missing economists’ expectations of 73,000 jobs.7

Over the full year, net job growth averaged 49,000 per month—the lowest monthly pace in 22 years and a drop from 168,000 per month in 2024. Federal job cuts were a primary reason for the sluggish labor market in 2025, with 277,000 government positions eliminated.7

Footnotes And Sources

1. WSJ.com, January 9, 2026
2. Investing.com, January 9, 2026
3. CNBC.com, January 5, 2026
4. CNBC.com, January 6, 2026
5. CNBC.com, January 7, 2026
6. WSJ.com, January 8, 2026
7. CNBC.com, January 9, 2026

Tax Tip | Recordkeeping Tips for Small Business Owners

Recordkeeping Tips for Small Business Owners

As a small business owner, your recordkeeping is of utmost importance. These records show your income, expenses, business transactions, and much more. You can choose any record-keeping system you prefer if you and the IRS have the necessary information.

As a business owner, you will need to keep track of supporting documents such as:

  • Purchases
  • Sales
  • Payroll
  • Sales slips
  • Paid bills
  • Invoices
  • Receipts
  • Deposit slips
  • Canceled checks
  • Travel, transportation, entertainment, and gift expenses
  • Assets

Keeping your records well-organized will save you time, effort, and money.

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

Tip adapted from IRS.gov8

Footnotes And Sources

8. IRS.gov, June 24, 2025