Market News

Another strong session puts the market's major averages in unclaimed territory.

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Tesla proposed to buy SolarCity for $2.5-$3 billion last month. With SolarCity shares ending the week of the offer below the proposed price, the market is telling us this deal is no good. Some in the media called it a 'bailout' for SCTY.

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As the Department of Labor's fiduciary rule was being passed into law earlier this year, thousands of people voiced their opposition to a rule designed to improve the retirement security of Americans by improving investment advice from financial advisors. Opponents feared that the new rule would stifle business, increase compliance costs dramatically, push companies out of the business, and further curtail affordable advice to low and middle income America. But on the other side, proponents urged that the rule would create a better overall financial planning environment, improve advice to consumers, lower fees, remove conflicts of interest, and improve the retirement security of Americans. Today, the Department of Labor's fiduciary rule is law, but it is currently being challenged in a variety of lawsuits. However, one thing is clear: change is looming in the near future. The financial services profession and the retirement income planning industry are primed for change. Particularly well positioned to take full advantage of these developments are millennials, whether as consumers or as financial advisors.

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Amid all the hoopla surrounding fresh all-time highs in the Dow Jones Industrials and the S&P 500 comes earnings from some of the biggest banks. When the banks open their books this week, investors might get a glimpse of the dark side of historically low interest rates.

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To become a "Dividend Aristocrat," a dividend paying company must accomplish an incredible feat: consistently increase shareholder dividends every year for at least 20 consecutive years. Companies with this kind of track record tend to attract a lot of investor attention and furthermore, "tracking" funds that follow the Dividend Aristocrats Index must own them. With all of this demand for shares, dividend growth stocks can sometimes become "fully priced," where there isn't much upside to analyst targets.

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China's Internet is booming and with it the number of outlets for news, including common people who keep their ears out. Suddenly China leads the world in the number of jailed journalists following an increase in arrests and is now going after the common folk who post findings on blogs or social media, advocacy groups say. In the latest case known outside China, citizen journalists Lu Yuyu and Li Tingyu were detained June 15 for documenting labor unrest, according to French journalism advocacy group Reporters Without Borders.

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Quick Hits: If you're planning to buy a home do it now, because prices are going up for the next few years. Investments in single-family rental properties have good potential, especially in Clayton County. Apartment developments have the best potential in Gwinnett County, where splitting homes into rental units is also attractive. Mortgages and construction loans have lower risk in Forsyth County, where demand will be strong. Best bets for investments in retail are Forsyth and Cherokee Counties; worst bets are Gwinnett and Clayton.

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As Pokemon Go fueled a rally in Nintendo, a surge in popularity of homegrown video games, has sent the stocks of three big gaming companies to an all-time high.

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A few days ago over five billion dollars worth of Zero Coupon German government bonds were auctioned at a yield of minus five basis points. For me, as for many others, bonds with negative nominal yields hold a fascination – they are no longer unicorns, but nonetheless a rather rare animal in the history of money. Are they investments?

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It's easy to agree that payday loans are the underbelly of the second oldest profession and generally bad for the people who rely on them. Google should be applauded for stepping up and doing something proactive to limit payday's spread by banning related sponsored ads. However, their edict also falls victim to widely held misconceptions about the alternative lending industry and an overreach that could ultimately forestall innovation and adversely affect the very same vulnerable consumers it's meant to protect.

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