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U.S. Stock Futures Are Flat Ahead of President Trump’s Speech #Futures #Trump #SmallBusiness

U.S. Stock futures are flat ahead of President Trump's speech. Markets will be looking for comments on trade as President Trump is set to speak today at the Economic Club of New York at noon.  On the data front, the NFIB reported that the October small business optimism rose in October, as small businesses are considering increasing inventories and will look to make capital outlays.  European shares are higher on improved sentiment after speculation that President Trump may delay auto tariffs on the EU for up to six months.  Asian shares closed mostly higher with Japanese shares leading the region.

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U.S. Stocks Are Set to Open The Week Lower After Five Consecutive Weeks of Gains #Trump #China #Tariffs

U.S. stocks are set to open the week lower after five consecutive weeks of gains. U.S. stocks are slightly lower after President Trump denied stories that he has agreed to rollback tariffs on Chinese goods.  There is no economic data for release today and the bond market is closed in honor of Veteran’s Day.  European stocks are lower with basic material stocks lagging as tariff talk weighs.  In the U.K., third quarter GDP rose by 0.3%, however, manufacturing output fell by 0.4% in September.  Asian markets closed mostly lower with Hong Kong’s Hang Seng Index leading the losses after protests escalated.

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15 Hits

U.S. Futures are Slightly Lower After Closing at All-Time Highs #Futures #SP500 #TradeTalks

U.S. stock futures are slightly lower after closing at all-time highs. The S&P 500 is looking to record a 5th straight week of gains after closing at a record high yesterday on news that the U.S. and China would consider rolling back tariffs as part of a trade agreement. Markets are quiet this morning as investors digest earnings reports and trade news. Later this morning markets will get a preliminary look at November consumer sentiment. European shares are mostly lower with basic materials stocks leading the decline. Asian stocks closed mostly lower, however, Japan’s Nikkei 225 outperformed the region.

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32 Hits

U.S. Futures Move to Record Highs on U.S./China Tariff Concession Agreements #TradeTalks #China #Jobless

U.S. stock futures move to record highs on U.S./China tariff concession agreements. The U.S. and China have reportedly agreed to remove existing trade tariffs, in phases, as they work toward a trade agreement. On the data front, weekly jobless claims were lower than expected last week, coming in at 211,000. European shares are also higher on tariff news with bank stocks leading and utility stocks lagging. Asian shares closed mostly higher on trade developments.

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38 Hits

U.S. Stock Futures are Slightly Higher as Stocks Pause Near Record Highs #Futures #Economy #Mortgage

U.S. stock futures are slightly higher as stocks pause near record highs. With little news moving stocks this morning, futures are hanging around unchanged. On the data front, mortgage applications fell slightly last week on weakness in purchases. Non-farm productivity was lower than expected in Q3, falling 0.3% against expectations of a 1% rise. Unit labor cost rose more than expected in Q3, rising 3.6% against expectations of a 2.2% rise. European shares are mostly higher, with bank stocks leading, after euro zone PMI rose more than expected in September. Asian shares closed mixed with Chinese stocks underperforming the region.

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32 Hits

U.S. Stock Futures are Holding Small Gains as Investors Focus on Trade #Futures #TradeTalks #TradeDeficit

U.S. stock futures are holding small gains as investors focus on trade. Positive comments from Chinese President Xi Jinping on lower tariffs, followed by reports that the U.S. is considering reducing tariffs as part of a “phase one” trade agreement has helped boost stocks this morning. On the data front, the trade deficit narrowed in September to $52.5B, in line with estimates. Later this morning markets will get a look at the ISM non-manufacturing index from October as well as job openings and labor turnover from September. European shares are trading higher with material stocks leading and utility stocks lagging. Asian stocks closed higher with Japanese stocks leading after being closed on Monday. Chinese services PMI dropped to a nine-month low in October but remains in expansion territory.

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44 Hits

U.S. Stock Futures are Higher on Trade Optimism #TradeWar #Huawei #China

U.S. stock futures are higher on trade optimism. News that U.S. firms may shortly would be able to resume business with Chinese telecom company Huawei, is being viewed as sign that trade talks are progressing. Investors are optimistic that a phase one deal can be completed soon. On the data front, later this morning markets will get a look at factory orders from September. European stocks are higher as trade sensitive stocks lead the market higher on positive trade comments. Asian stocks closed broadly higher with Chinese stocks leading. Markets in Japan were closed on holiday.

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46 Hits

U.S. Stock Futures Rise After a Strong Jobs Report #Futures #JobsReport #Unemployment

U.S. stock futures rise after a strong jobs report. The Labor Department reported that the U.S. economy added 128,000 jobs in October, above expectations of a gain of 90,000. The unemployment rate held steady at 3.6% while the participation rate rose slightly to 63.3%. Later this morning markets will get a look at manufacturing data from October and construction spending from September. European stocks are higher, with automobile stocks leading, after a better than expected manufacturing number in China helped lift sentiment. Asian shares closed mostly higher; however, Japanese stocks lagged the region.

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55 Hits

U.S. Stock Futures are Lower as Investors Weigh Data, the Fed, Trade and Earnings #PMI #TradeTalks #Powell

U.S. stock futures are lower as investors weigh data, the Fed, trade and earnings. As expected, the Fed reduced interest rates by 0.25% and hinted that rate cuts would likely pause. U.S. stock futures rose overnight on strong earnings from Facebook, Apple, Starbucks and others. The gains were short-lived as futures came under pressure this morning after reports surfaced that the Chinese are skeptical that a long-term trade deal can be achieved with President Donald Trump. On the data front, personal income and spending from September were in line with forecasts and weekly jobless claims came in at 215,000, also in line with estimates. Later this morning markets will get a look at business conditions in Chicago when Chicago PMI will be released. European shares are lower with utility stocks outperforming. Asian shares closed mixed with Chinese stocks lagging as factory activity contracted again in October.

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48 Hits

US Futures are Slightly Higher after Better than Expected Data #GDP #Jobs #FOMC

US futures are slightly higher this morning after better than expected economic data. According to the Commerce Department, US GDP grew by 1.9% in Q3 compared to estimates of 1.6% growth. In jobs data, the ADP private jobs number came in at 125,000 compared to estimates of 100,000 but September numbers were adjusted down to 93,000 from 135,000.  Markets are a little higher right now, but investors will be focused on the Fed’s monetary policy announcement which will come later today. The Fed is expected to cut 25 basis points, but investors will also be focused on what the Fed has projected going forward. Markets in Asia closed mostly lower led by the Nikkei while European markets are trading mixed as global markets key in on the Fed’s decision.

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51 Hits

U.S. Equity Futures are Flat as Investors Await the Fed #Futures #FOMC #Earnings

U.S. equity futures are flat as investors await the Fed. The FOMC begin their two-day meeting today and are expected to cut interest rates and signal the end of the “mid-cycle adjustment” at tomorrow’s 2pm FOMC announcement. Investors will look for clues during the Fed Chair’s press conference on future rate decisions. Mixed earnings reports have added more volatility in the premarket as Alphabet missed expectations, while Merck, Pfizer and Mastercard beat expectations. Later this morning markets will get a look at home prices from August, pending home sales from September and the latest read on October consumer confidence. European stocks are mostly lower with energy and technology stocks lagging. After failing to force a new general election on December 12th, U.K. Prime Minister Boris Johnson will now try to push through a bill that will only require a simple majority instead of a two-thirds majority. Asian shares closed mixed with Japanese stocks outperforming the region.

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42 Hits

U.S. Stocks are Looking to Open Near All-Time Highs in the Pre-Market #TradeTalks #China #Earnings

U.S. stocks are looking to open near all-time highs in the pre-market. News that the U.S. and China are close to finalizing parts of the trade agreement has helped to lift stocks this morning. Additionally, news of ISIS leader Baghdadi’s death over the weekend has helped to boost sentiment. There are several potential catalysts for stocks this week, with another big week for S&P 500 earnings reports as well as the two-day Fed meeting and rate decision on Wednesday. European stocks are mostly higher after the EU approved a 3-month extension to the Brexit deadline. Asian stocks closed higher with strength in Chinese stocks.

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54 Hits

U.S. Futures are Losing Steam on Mixed Earnings Reports #Futures #Earnings #Amazon

U.S. futures are losing steam on mixed earnings reports. Weaker earnings from Amazon is weighing, while stronger results from Intel, Verizon and Visa has investors optimistic. According to FactSet, over 38% of S&P500 companies have reported earnings, with 78% beating expectations. On the data front, later this morning investors will get a final read on October consumer sentiment. European shares are mixed with retail stocks leading and food and beverage stocks being weighed down by weaker results from AB InBev. Asian shares closed mostly higher with Chinese stocks leading.

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67 Hits

U.S. Stock Futures are Higher on Earnings #Futures #Earnings #ECB

U.S. stock futures are higher on earnings. Strong earnings from Microsoft, Dow, Tesla, PayPal and more are helping to boost stocks this morning. Investors will be watching some other big reports after the bell today from the likes of Amazon, Intel, Visa and more. On the data front, weekly jobless claims were 212,000, roughly in line with the 214,000 estimate. September durable goods was weaker than expected, falling 1.1% against expectations of a 0.7% decline. European shares are higher as the ECB leaves rates unchanged. This meeting marks the final meeting with Mario Draghi leading the ECB, with former IMF Managing Director Christine Lagarde to become the new president of the ECB. Asian shares closed mostly higher with Japanese stocks leading.

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61 Hits

U.S. Stocks are Hovering Near Unchanged after Mixed Earnings Reports #Futures #Earnings #Brexit

U.S. stocks are hovering near unchanged after mixed earnings reports. Weak guidance from Caterpillar and Texas Instruments are pressuring stocks this morning. With earnings season well underway, FactSet reported that more than 80% of S&P 500 companies that have reported results have beat expectations. On the data front, weekly mortgage applications fell 11.9% last week, led by a 17% drop in refinancing. European shares are mixed with technology stocks lagging and material stocks leading. On the Brexit front, parliament voted to allow PM Johnson’s Withdrawal Bill to proceed, however, rejected the timeline. The EU will now decide on whether to grant an extension. Asian shares closed mixed with Chinese shares lagging the region.

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60 Hits

U.S. Stocks are Flat this Morning as Markets Digest Earning Reports #Futures #Earnings #Brexit

U.S. stocks are flat this morning as markets digest earning reports. Mixed earnings results have stocks trading near unchanged. Earnings released this morning included McDonalds, Procter & Gamble, Lockheed Martin, UPS, United Technologies and many more. On the data front, later this morning markets will get a look at existing home sales from September. European shares are mixed, with energy names leading, as investors wait for developments on Brexit later today. Parliament will vote on two separate issues today to see if the Johnson will indeed need to seek an extension to the October 31st deadline. Asian shares closed mostly higher with Chinese stocks leading, while Japanese markets were closed on holiday.

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Taxable Munis: A Relative Value Opportunity

October 21st, 2019

     Core bonds are a vital component of investment portfolios.  These bonds serve as a pillar of strength during risk off periods while other assets may be losing value.  Treasuries, agencies and very high-quality corporates fit this category and provide this benefit to investors.  We strongly recommend that investors include these bonds in their portfolios, but caution that a set-it-and-forget-it approach can leave money on the table.  Often, relative value opportunities arise, and active managers can add value by repositioning into more attractively priced bonds.  At United, we constantly search the bond market for relative values; particularly amongst high quality bonds.  Today, we feel that we’ve found one in taxable municipals.

2017’s Tax Cuts and Jobs Act made it more difficult for municipal issuers (states, towns, school districts etc.) to refinance debt.  The act eliminated issuers’ ability to ‘advance refund’ older, high interest debts with new tax-free bond offerings.  As a workaround, municipalities have recently been issuing taxable bonds to refinance older tax-free bonds.  As a result, the anticipated supply of taxable bonds has risen dramatically.  30-day visible supply recently hit the highest level since 2010 (per Bloomberg data).  We feel the market has not been completely prepared to absorb this unusual amount of supply, and the resulting imbalance has pushed yields higher on a relative basis.                 

Today, Bloomberg’s 10-year taxable AA yield curve indicates a yield of 2.55%.  Since the 10-year US treasury sits at 1.79%, taxable munis offer a greater than usual 76 basis points of spread.  Meanwhile, 10-year AA corporates offer 2.4% representing a tighter than usual spread.  Considering this, investing in taxable munis offers a rare 15 basis point yield advantage over corporates.  This is particularly attractive as AA corporates typically offer higher yield than AA taxable munis.*  In our view, taxable munis represent clear value as the uptick in supply has made them particularly cheap relative to corporates.  As a result, we have increased exposure to taxable munis in our clients’ IRAs and tax deferred accounts.

 

*Bloomberg Taxable Municipal AA+ AA AA- 10 year Index BV2TAG10, Bloomberg AA+ AA AA- Corporate Bond 10 Year Index IGUUDC10, spread data since taxable index was created 1/4/16.

 

Matt DeLorenzo, Fixed Income Strategist

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78 Hits

U.S. Stock Futures are Drifting Higher on Trade Optimism #China #Earnings #Brexit

U.S. stock futures are drifting higher on trade optimism. Comments out of China on Saturday helped to boost futures after China’s Vice Premier Liu He said that substantial progress has been made on a phase one agreement. On the earnings front, approximately 25% of S&P500 companies will report earnings this week including Caterpillar, Boeing, Amazon, Intel, McDonalds and more. There is no economic data scheduled for release today. European shares are higher despite the weekend Brexit delay. British lawmakers passed an amendment that will require PM Boris Johnson to seek an extension so that the proper legislation will be in place prior to exiting the EU. Asian stocks closed higher with Japanese stocks leading.

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57 Hits

U.S. Futures are Unchanged Following the First Week of Earnings Reports #Futures #Earnings #Brexit

U.S. futures are near unchanged as the first week of earning reports comes to a close. Nearly 15% of S&P500 companies reported earnings this week with the large majority reporting better than expected results. There is no economic data scheduled for release today, however, several Fed Presidents are slated to talk at a few conferences across the country. European stocks are mixed ahead an important parliamentary vote on Saturday that could clear the way for the U.K. to exit the European Union by October 31st. Asian shares closed mostly lower after China reported slower than expected GDP growth in the third quarter.

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U.S. and European Stocks are Higher on Potential Brexit Deal #Futures #Brexit #BrexitDeal

U.S. and European stocks are higher on potential Brexit deal. U.K. Prime Minister Boris Johnson tweeted that they have reached a Brexit deal, which was later confirmed by EU Commission President Jean-Claude Junker in a tweet that the deal is “fair and balanced”. Market optimism grew after these tweets despite the Northern Irish Democratic Party (DUP) saying that they could not support the deal as is. It is expected that British lawmakers will vote on the deal on Saturday. On the data front, housing starts fell more than expected in September as weakness in multi-family units dragged, however, permits fell less than expected. Weekly jobless claims rose by 4,000 last week to 214,000, slightly above consensus estimates. The Philadelphia Fed business outlook survey was slightly weaker than expected in October. Later this morning market will get a look at industrial production from September. European stocks are trading higher with bank stocks leading. Asian shares closed mixed, with little conviction in either direction.

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Preventive Care Benefits: Your Health Plan’s Best Kept Secret

'Preventive care is comprised of any medical service that defends against health emergencies. It includes doctor visits, such as annual physicals, well-woman appointments, immunizations and screenings. The goal of preventive care is to help people stay healthy, and to nip diseases in the bud before they become catastrophic.'

Seven out of ten deaths among Americans each year are aresult of chronic diseases, many of which are preventable. Preventive health services can help detect health problems early, when the chances for treatment and cure are better, or even prevent health problems before they start. Unfortunately, many employees don’t take advantage of these services – simply because they don’t know their insurance covers it. Preventive health services are covered under all health insurance plans with no additional out-of-pocket costs when provided by in-network providers.

All plans must cover the following preventive services without charging a copayment or coinsurance even if you haven’t met your yearly deductible. These services are at no cost only when delivered by a doctor or other provider in your plan’s network.

The information below provided by HealthCare.gov outlines the preventive services that are covered for all adults, women and children.

Preventive Services For All Adults

1. Abdominal aortic aneurysm one-time screening for men of specified ages who have ever smoked

2. Alcohol misuse screening and counseling

3. Aspirin use to prevent cardiovascular disease and colorectal cancer for adults 50 to 59 years with a high cardiovascular risk

4. Blood pressure screening

5. Cholesterol screening for adults of certain ages or at higher risk

6. Colorectal cancer screening for adults 50 to 75

7. Depression screening

8. Diabetes (Type 2) screening for adults 40 to 70 who are overweight or obese

9. Diet counseling for adults at higher risk for chronic disease

10. Falls prevention (with exercise or physical therapy and vitamin D use) for adults 65 and over, living in a community setting

11. Hepatitis B screening for people at high risk, including people from countries with 2% or more Hepatitis B prevalence, and U.S.-born people not vaccinated as infants and with at least one parent born in a region with 8% or more Hepatitis B prevalence.

12. Hepatitis C screening for adults at increased risk, and one time for everyone born 1945–1965

13. HIV screening for everyone ages 15 to 65, and other ages at increased risk

14. Immunization vaccines for adults — doses, recommended ages, and recommended populations vary:

  • Diphtheria
  • Hepatitis A
  • Hepatitis B
  • Herpes Zoster
  • Human Papillomavirus (HPV)
  • Influenza (flu shot)
  • Measles
  • Meningococcal
  • Mumps
  • Pertussis
  • Pneumococcal
  • Rubella
  • Tetanus
  • Varicella (Chickenpox)

15. Lung cancer screening for adults 55-80 at high risk for lung cancer because they’re heavy smokers or have quit in the past 15 years

16. Obesity screening and counseling

17. Sexually transmitted infection (STI) prevention counseling for adults at higher risk

18. Statin preventive medication for adults 40 to 75 at high risk

19. Syphilis screening for adults at higher risk

20. Tobacco use screening for all adults and cessation interventions for tobacco users

21. Tuberculosis screening for certain adults without symptoms at high risk

 

Preventive Services For Women

1. Breast cancer genetic test counseling (BRCA) for women at higher risk

2. Breast cancer mammography screenings every 1 to 2 years for women over 40

3. Breast cancer chemoprevention counseling for women at higher risk

4. Cervical cancer screening

  • Pap test (also called a Pap smear) every 3 years for women 21 to 65
  • Human Papillomavirus (HPV) DNA test with the combination of a Pap smear every 5 years for women 30 to 65 who don’t want a Pap smear every 3 years

5. Chlamydia infection screening for younger women and other women at higher risk

6. Diabetes screening for women with a history of gestational diabetes who aren’t currently pregnant and who haven’t been diagnosed with type 2 diabetes before

7. Domestic and interpersonal violence screening and counseling for all women

8. Gonorrhea screening for all women at higher risk

9. HIV screening and counseling for sexually active women

10. Osteoporosis screening for women over age 60 depending on risk factors

11. Rh incompatibility screening follow-up testing for women at higher risk

12. Sexually transmitted infections counseling for sexually active women

13. Syphilis screening for women at increased risk

14. Tobacco use screening and interventions

15. Urinary incontinence screening for women yearly

16. Well-woman visits to get recommended services for women under 65

 

Preventive Services For Pregnant Women or Women Who May Become Pregnant

1. Anemia screening on a routine basis

2. Breastfeeding comprehensive support and counseling from trained providers, and access to breastfeeding supplies, for pregnant and nursing women

3. Contraception: Food and Drug Administration-approved contraceptive methods, sterilization procedures, and patient education and counseling, as prescribed by a health care provider for

women with reproductive capacity (not including abortifacient drugs). This does not apply to health plans sponsored by certain exempt “religious employers.”

4. Folic acid supplements for women who may become pregnant

5. Gestational diabetes screening for women 24 to 28 weeks pregnant and those at high risk of developing gestational diabetes

6. Gonorrhea screening for all women at higher risk

7. Hepatitis B screening for pregnant women at their first prenatal visit

8. Preeclampsia prevention and screening for pregnant women with high blood pressure

9. Rh incompatibility screening for all pregnant women and follow-up testing for women at higher risk

10. Syphilis screening

11. Expanded tobacco intervention and counseling for pregnant tobacco users

12. Urinary tract or other infection screening

 

Preventive Services For All Children

1. Alcohol, tobacco, and drug use assessments for adolescents

2. Autism screening for children at 18 and 24 months

3. Behavioral assessments for children ages: 0 to 11 months, 1 to 4 years, 5 to 10 years, 11 to 14 years, 15 to 17 years

4. Bilirubin concentration screening for newborns

5. Blood pressure screening for children ages: 0 to 11 months, 1 to 4 years , 5 to 10 years, 11 to 14years, 15 to 17 years

6. Blood screening for newborns

7. Cervical dysplasia screening for sexually active females

8. Depression screening for adolescents beginning routinely at age 12

9. Developmental screening for children under age 3

10. Dyslipidemia screening for all children once between 9 and 11 years and once between 17 and 21 years, and for children at higher risk of lipid disorders ages: 1 to 4 years, 5 to 10 years, 11 to 14 years,15 to 17 years

11. Fluoride chemoprevention supplements for children without fluoride in their water source

12. Fluoride varnish for all infants and children as soon as teeth are present

13. Gonorrhea preventive medication for the eyes of all newborns

14. Hearing screening for all newborns; and for children once between 11 and 14 years, once between

15 and 17 years, and once between 18 and 21 years

15. Height, weight and body mass index (BMI) measurements for children ages: 0 to 11 months, 1 to 4years, 5 to 10 years, 11 to 14 years, 15 to 17 years

16. Hematocrit or hemoglobin screening for all children

17. Hemoglobinopathies or sickle cell screening for newborns

18. Hepatitis B screening for adolescents at high risk, including adolescents from countries with 2% or more Hepatitis B prevalence, and U.S.-born adolescents not vaccinated as infants and with at least one parent born in a region with 8% or more Hepatitis B prevalence: 11–17 years

19. HIV screening for adolescents at higher risk

20. Hypothyroidism screening for newborns

21. Immunization vaccines for children from birth to age 18 — doses, recommended ages, and recommended populations vary:

  • Diphtheria, Tetanus, Pertussis (Whooping Cough)
  • Hemophilus influenza type b
  • Hepatitis A
  • Hepatitis B
  • Human Papillomavirus (HPV)
  • Inactivated Poliovirus
  • Influenza (flu shot)
  • Measles
  • Meningococcal
  • Pneumococcal
  • Rotavirus
  • Varicella (Chickenpox)

22. Iron supplements for children ages 6 to 12 months at risk for anemia

23. Lead screening for children at risk of exposure

24. Maternal depression screening for mothers of infants at 1, 2, 4, and 6-month visits

25. Medical history for all children throughout development ages: 0 to 11 months, 1 to 4 years, 5 to 10years, 11 to 14 years, 15 to 17 years

26. Obesity screening and counseling

27. Oral health risk assessment for young children ages: 0 to 11 months, 1 to 4 years, 5 to 10 years

28. Phenylketonuria (PKU) screening for newborns

29. Sexually transmitted infection (STI) prevention counseling and screening for adolescents at higher risk

30. Tuberculin testing for children at higher risk of tuberculosis ages: 0 to 11 months, 1 to 4 years, 5 to 10years, 11 to 14 years, 15 to 17 years

31. Vision screening for all children

 

For more information, please visit https://www.healthcare.gov/coverage/preventive-care-benefits/

 

To learn more about the services offered by United Asset Strategies, visit us at www.unitedasset.com

 

Additional Sources

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U.S. Stocks Retreat After Data #RetailSales #Mortgage #HongKong

U.S. stocks retreat after data. Stock futures started lower as concerns over trade resurfaced after the U.S. House of Representatives passed a bill that would change the trade status of Hong Kong if it was found that human rights are not being respected. Stocks added to losses after retail sales from September was reported as weaker than expected. Retail sales fell 0.3% in September, against expectations of a 0.3% increase. In other data, mortgage application rose slightly last month as refinancing outpaced the decline in new purchases. Later this morning markets will get a look at business inventories from August and housing market conditions for October. European stocks are mixed, with materials stocks lagging, as Brexit negotiations have stalled over future trade. Asian shares closed mixed with Japanese shares leading the region.

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64 Hits

U.S. Stocks are Holding Gains as Earnings Season Kicks Into Gear #Futures #Earnings #Brexit

U.S. stocks are holding gains as earnings season kicks into gear. Earnings from JPMorgan, Citi, Johnson & Johnson, Black Rock, United Health and others have helped boost stocks this morning. On the data front, the Empire manufacturing survey scheduled for release today was released yesterday in error, beating estimates for October. European stocks are mostly higher, with retail stocks leading, as optimism grows that a Brexit deal is possible prior to the October 31st deadline. Asian shares closed mixed with Chinese stocks lagging as questions rise over a potential U.S./Chinese phase one trade deal.

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72 Hits

U.S. Stocks are Lower After China Says More Talks are Needed for a Deal #TradeDeal #China #TradeTalks

U.S. stocks are lower after China says more talks are needed for a deal. Chinese media reported that progress was made, but more talks are needed before a “phase one” deal could be signed. There is no economic data for release today and the U.S. bond market will be closed on holiday. European shares are trading lower, with material stocks lagging, after details of a Chinese/U.S. trade deal are in question. Asian shares closed mostly higher with Japanese shares leading. Chinese markets were higher despite weaker-than-expected import and export data from September.

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80 Hits

U.S. Stocks are Higher on Hopes of Partial Trade Deal #Trump #China #Trade

U.S. stocks are higher on hopes of partial trade deal. Hopes for a partial trade deal rose after comments from President Trump on how well talks are going and the plan for him to meet with Vice Premier Liu He at the White House later today. Both sides seem to be taking steps to pave the way for improved negotiations, including China setting a timetable for opening financial markets to foreign investors. On the data front, import prices rose more than expected in September, while export prices fell. Later this morning markets will get the first look at consumer sentiment for October. European shares are higher on trade news and optimism that a Brexit deal could be reached by the end of the month. Asian shares closed higher, with Chinese stocks leading, as optimism over a trade deal ramps higher.

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74 Hits

U.S. Futures are Slightly Lower After a Volatile Overnight Session #China #TradeTalks #CPI

U.S. futures are slightly lower after a volatile overnight session. S&P500 futures fell nearly 1.5% over a 15 minute period last evening, only to fully erase all losses two hours later on mixed reports that a lack of trade progress would lead to the Chinese delegation leaving a day earlier than planned. Stocks futures have consolidated since and are now slightly lower with little reaction to this mornings data. Consumer prices were reported as unchanged in September, with core prices rising 0.1%. Weekly jobless claims fell 10,000 to 210,000 last week. European shares are mixed with healthcare stocks lagging other sectors. On the data front, U.K. GDP rose slightly more than expected, rising 0.3%. Asian stocks closed mostly higher after erasing early losses, with Chinese stocks leading.

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80 Hits

U.S. Futures are Higher on Trade Headlines #TradeTalks #Mortgage #Refinancing

U.S. futures are higher on trade headlines. Reports that China would be open to a partial trade deal, one-day after the U.S. blacklisted additional Chinese companies from doing business with U.S. companies, has sent stocks higher this morning. On the data front, weekly mortgage applications rose 5.2% on the back of strength in refinancing. Later this morning markets will get a look at job openings and labor turnover from August and the FOMC minutes later this afternoon. European stocks are trading higher with automotive stocks leading as trade headlines dominate. Asian stocks closed mixed as yesterday’s trade headlines were a headwind.

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80 Hits

U.S. Stocks are Lower as Trade Tensions Weigh #Futures #TradeTalks #China

U.S. stocks are lower as trade tensions weigh. U.S./China trade tensions rose after the U.S. expanded the list of Chinese companies prohibited from doing business with U.S firms, including some of China’s top artificial intelligence companies. China’s foreign ministry announce that a retaliation will follow. On the data front, the Bureau of Labor Statistics reported that producer prices fell in September, falling 0.3% against expectations for slight rise. European shares are lower on trade tensions, with financial and retail stocks leading the decline. Asian markets closed higher with Japanese shares leading.

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73 Hits

U.S. Stocks are Mildly Lower as Markets Digest Friday’s Gains #Jobs #TradeTalks #China

U.S. stocks are mildly lower as markets digest Friday’s gains. U.S. major indices rose in excess of 1.3% on Friday after the September jobs report was just enough, after revisions, to move stocks higher. Investors will be cautiously monitoring trade developments as the Chinese trade representatives will arrive in the U.S. on Thursday to resume trade talks. Weighing on markets this morning is a report that the Chinese do not plan to change policies related to industrial policy or government subsidies. European stocks are higher with energy stocks leading, despite weaker investor sentiment and German industrial orders. Asian shares closed mostly lower with Chinese stocks lagging.

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98 Hits

U.S. Futures Bounce After the Employment Report #JobsReport #Jobs #Unemployment

U.S. futures bounce after the employment report. Stocks erased early losses after the Labor Department reported that non-farm payrolls rose by 136,000 in September. While this growth was below estimates of 145,000 jobs, there was a 45,000 job cumulative upward revision to July and August. The unemployment rate fell to 3.5%, the lowest reading in 50 years, however, wages were unchanged against estimates for 0.3% growth. Healthcare saw the strongest job growth in September, while retail and manufacturing lost jobs. European stocks are higher, getting a mid-day boost from the U.S. employment report. Asian stocks closed mixed with Chinese shares lagging the region.

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104 Hits

U.S. Futures are Roughly Unchanged Ahead of Data #JoblessClaims #ISM #Tariffs

U.S. futures are roughly unchanged ahead of data. This morning weekly jobless claims rose slightly more than expected to 219,000. Later this morning markets will get a look at factory orders from August and the ISM non-manufacturing from September. The markets are expecting the ISM non-manufacturing to maintain strength as the services sector continues to expand. European stocks are mixed after the U.S. is set to impose $7.5B in tariffs on European exports beginning in mid-October. Asian stocks closed mostly lower with Japanese stocks leading the losses. Concerns over global trade is weighing on Asian stocks after the recent move by the U.S. to enforce tariffs on European exports.

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93 Hits

U.S. Stocks are Lower Following Tuesday’s Weakness #ISM #ADP #AutoSales

U.S. stocks are lower following Tuesday’s weakness. Stocks fell yesterday after a weaker-than-expected ISM manufacturing index stoked recession fears. Today, ADP released private payroll data that was slightly weaker than expectations, rising 135,000 in September and a downward revision of 38,000 in August. Later this morning markets will get a look at motor vehicle sales from September. European shares are sharply lower after weaker U.S. data and a reduction in the expected GDP growth forecast for Germany. Asian stocks closed lower with Chinese and Indian markets closed on holiday.

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89 Hits

U.S. Futures are Higher Ahead of Data #Futures #PMI #ISM

U.S. futures are higher ahead of data. Later this morning markets will get a look at PMI manufacturing and ISM manufacturing from September, both expected to rise slightly from August. European stocks are trading mostly lower after euro zone PMI manufacturing from September was the worst reading since 2012, with Germany leading the weakness. Asian stocks closed mostly higher with Australian stocks leading after the RBA reduced their cash rate by 0.25% to 0.75%. China and Hong Kong's markets were closed on holiday.

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103 Hits

U.S. Futures are Higher on the Last Trading Day of the Quarter #SPX #Trump #China

U.S. futures are higher on the last trading day of the quarter. Today marks the last trading day of Q3 with the SP500 nearly unchanged thus far this quarter, rising by 0.6% through Friday. Markets are getting a boost today after the Trump administrations has downplayed reports from Friday that the U.S. would restrict U.S. investment in Chinese companies. European shares are mostly higher with materials stocks leading, reversing losses from earlier in the session. Eurozone unemployment felt to an 11-year low in August, falling to 7.4%. Asian shares closed mixed with Chinese shares leading after stronger than expected manufacturer activity in September.

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93 Hits

U.S. Futures are Holding Gains After Data #DurableGoods #PCE #ConsumerSentiment

U.S. futures are holding gains after data. The Commerce Department reported that new orders rose slightly in August, better than the 1.2% decline that was expected. Core capital goods was reported below expectations, falling 0.2% for the month, while analyst were expecting no change. Personal income rose in line with estimates in August, however, consumer spending missed expectations. Later this morning markets will get a look at the final read on consumer sentiment in September. European shares are higher with materials stocks leading higher. Asian shares closed mixed with Japanese shares lagging.

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98 Hits

Lee DeLorenzo Named to Barron's Hall of Fame for 2019

Lee DeLorenzo has been inducted into the Barron's Hall of Fame for 2019. The Hall of Fame recognizes advisors ranked by Barron's for at least 10 years. Those inducted are recognized for their exceptional service, leadership, commitment and stewardship, and have been consistently named to one of Barron's industry leader rankings. 

Barron's ranked advisors are selected based upon revenue generated, assets under management, as well as the quality of their practices. This marks the 10th consecutive year that Lee DeLorenzo has been named as a Barron's Top Women Advisor. Lee will also be a guest speaker at this year's Barron’s Women's Conference in December.

About United Asset Strategies:

As a fully integrated wealth management firm experienced in asset management, financial and retirement planning, and insurance and pension services, United Asset Strategies makes it a priority to listen to and understand the needs of each client, gaining valuable insight into their unique financial & personal goals in order to guide them towards financial success. The United team remains mindful of each client’s  goals and risk tolerances, and believes that stewardship is a cornerstone to a successful practice and the overall client experience.

For more information about Barron's Hall of Fame Advisor, Lee DeLorenzo, visit https://www.barrons.com/directory/lee-delorenzo

To learn more about United Asset Strategies, please visit www.unitedasset.com

 

Lee DeLorenzo Barron's Hall of Fame

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94 Hits

U.S. Stocks are Reversing Gains After Whistleblower Report Released #Trump #Ukraine #GDP

U.S. stocks are reversing gains after whistleblower report released. Moments ago, the House Intelligence Committee released the complaint at the center of the impeachment inquiry, which has pulled stocks lower. On the data front, the final look at Q2 GDP was in line with previous estimates at 2.0% as consumer spending was strong. In the latest read, the notable change was a reduction in business investment below previous estimates, declining 1%. Weekly jobless claims were reported in line with estimates at 213,000 last week. Later this morning markets will get a look and pending home sales from August. European stocks are mostly higher as the latest consumer confidence reading out of Germany was better than expected. Asian stocks closed mixed with Chinese stocks lagging the region.

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92 Hits

U.S. Stocks Have Pared Losses as Markets Digest Headlines #Trump #Mortgage #HomeSales

U.S. stocks have pared losses as markets digest headlines. News that House Speaker Nancy Pelosi would launch a formal impeachment inquiry on President Trump sent stocks lower yesterday, continuing into the after-hours. This morning stocks have clawed back to unchanged as the reality that the chances of the proceedings going through to the Senate and two-thirds of Senators voting against him is not likely. On the data front, mortgage applications fell 10% last week, with weakness in refinances pulling the index lower. Later this morning markets will get a look at new home sales from August. European stocks are lower with technology stocks leading the decline. Asian stocks closed mostly lower with Chinese stocks leading the decline.

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443 Hits

U.S. Stocks are Higher on Trade Optimism #TradeTalks #China #Brexit

U.S. stocks are higher on trade optimism. News that China that has granted exemptions for some companies from tariffs and that deal talks are set to resume in October has helped lift stocks this morning. On the data front, markets will get a look at home prices from July and September consumer confidence this morning. European stocks are mostly higher with travel and leisure stocks leading. On the Brexit front, the U.K.’s Supreme Court ruled that PM Boris Johnson’s parliament recess was unlawful. Following the ruling, lawmakers are likely return to parliament as soon as tomorrow. Asian stocks closed mostly higher as trade talks progress.

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104 Hits

U.S. Stocks are Trading Slightly Lower Over Global Growth Concerns #Europe #DAX #PMI

U.S. stocks are trading slightly lower over global growth concerns. U.S. stocks are being dragged down by European equities after weak data in Europe. The German DAX is leading the losses as German flash PMI came in below expectations with factory sentiment at the weakest level during this cycle. Asian shares closed mixed with Chinese shares lagging while Indian shares rallied after a surprise tax cut. Markets in Japan were closed on holiday.

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114 Hits

Markets are Moving Higher to Close the Week #Futures #Stocks #SPX

Markets are moving higher to close-out the week. Stocks are getting a slight bump this morning after failing to hold yesterday’s stronger gains as the S&P 500 approaches all-time highs. There is no economic data for release today. European stocks are mostly higher with most sectors trading higher. On the data front, later this morning markets will get a look at euro zone consumer confidence for September. Asian shares closed mostly higher, with Japanese shares lagging after inflation slowed again in August.

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115 Hits

U.S. Futures are Slightly Higher as Markets Digest the Fed’s Comments #Futures #Powell #Brexit

U.S. futures are slightly higher as markets digest the Fed’s comments. After cutting rates by the expected 25 basis points, the Fed Chairman said that this cut was insurance for potential negative economic developments and not part of a longer-term rate cutting cycle. Markets seemed disappointed initially as they were looking for the Fed’s dot plot to move lower, signaling more rate cuts this year. On the data front, jobless claims rose less than expected last week, rising 208,000. The Philadelphia Fed business outlook survey was slightly better than expectations in September, coming in at 12. Later this morning markets will get a look at existing home sales from August. European stocks are higher with most sectors trading higher. The Bank of England announced that they are leaving rates steady ahead of Brexit uncertainty. Asian shares closed mostly higher with Hong Kong stocks lagging the region. The Bank of Japan also left rates steady and will try to keep their 10-year bonds near 0%.

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102 Hits

U.S. Stocks are Slightly Lower Ahead of the Fed Policy Decision #FOMC #Fed #Housing

U.S. stocks are slightly lower ahead of the Fed policy decision. The FOMC will announce their latest policy decision at 2pm today. The market is expecting a 25 basis point cut to the fed funds target range, bringing it to 1.75 to 2.0%. The market will likely pay close attention to the press conference that follows, looking for clues on future policy decisions. On the data front, August housing starts rose 12.3%, led by a surge in multi-family housing. Building permits were also stronger than expected, rising 7.7% in August. European stocks are higher with most sectors trading in positive territory. Asian shares closed mixed as energy names dragged down stocks as oil prices retraced from Monday’s surge.

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115 Hits

U.S. Futures are Lower as the Fed Begins Their Two Day Meeting #Futures #FOMC #Fed

U.S. futures are lower as the Fed begins their two-day meeting. The latest Fed policy decision will be announced on Wednesday, with markets expecting a 25 basis point cut in rates. Later this morning markets will get a look at industrial production from August and housing market conditions in September. European stocks are mostly lower with materials stocks leading the decline. Asian shares closed mixed, with Chinese stocks lagging, as concerns over rising energy cost took hold.

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108 Hits

U.S. Stocks are Lower Following a Weekend Attack on a Saudi Arabian Oil Facility #Oil #SaudiAramco #China

U.S. stocks are lower as oil prices spike following a weekend attack on a Saudi Arabian oil facility. Saturday’s drone strike has disrupted the global supply chain with an estimated 5% of the world's supply being affected. Saudi Aramco has stated they can restore a significant amount of the volume, but repairs could take weeks to get back to full capacity. Markets also await monetary policy decisions from the Fed, the Bank of England and Bank of Japan. The Federal Open Market Committee (FOMC) is poised to make its monetary decision on Wednesday with markets expecting another 25 bp cut to the target fed funds rate. Global growth worries continue as China's industrial production comes in softer than expected. The U.S. dollar gains ground as regional manufacturing activity slowed more than expected but remained in expansion territory. Asia finished mixed and Europe is lower.

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113 Hits

U.S. Futures are Holding Slight Gains After Data #China #RetailSales #ECB

U.S. futures are holding slight gains after data. Futures got a boost early from news that China would add additional U.S. agriculture products to their list of products exempt from tariffs. On the data front, retail sales rose 0.4% in August, beating expectations for a 0.2% rise. Automobile sales gave retail a big bump in August as retail sales were unchanged when autos were stripped out. Import prices fell 0.5% in August, while export prices fell 0.6%. The drop in export prices was well below expectations of a 0.1% decline. Later this morning markets will get a look at business inventories from July and a preliminary look at September consumer confidence. European shares are getting some follow-through one day after the ECB cut deposit rates and initiated a new asset purchase program. Asian stocks closed higher with Japanese shares leading the region.

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119 Hits

U.S. Futures are Higher After President Trump Delayed Tariffs #TradeTalks #Tariffs #CPI #ECB

U.S. futures are higher after President Trump delayed tariffs. While only a two week delay, markets cheered the concession as it will allow the two countries to reignite trade talks prior to the increase in tariffs. On the inflation front, consumer prices rose 0.1% m/m and 1.7% y/y in August, in line with estimates. Core inflation was slightly higher than expected, rising 0.3% m/m and 2.4% y/y. Weekly jobless claims were below estimates, falling 13,000 to 204,000 last week. European stocks are broadly higher after the ECB announced a new stimulus plan. The new plan includes lowering the deposit rate by 0.1% to -0.5% as well as an asset purchase program of 20B euros per month for as long as necessary. Asian stocks closed mostly higher with Japanese stocks leading the region.

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107 Hits

U.S. Stocks are Slightly Higher with Technology Leading #Technology #Inflation #Mortgage

U.S. stocks are slightly higher with technology leading. Technology shares are bouncing back after two days of selling pressure on the sector and momentum names. On the inflation front, producer prices rose 0.1% in August and 1.8% YoY, both in line with expectations. Mortgage applications rose 2% last week after falling 3% in the prior week. European shares are higher, with banks leading, ahead of tomorrow’s ECB meeting. Asian shares closed mostly higher with Hong Kong stocks leading the region. On the trade front, China’s Ministry of Finance announced that several U.S. products will be exempt from additional tariffs, including several products used for animal feed as well as lubricants and cancer drugs.

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141 Hits

U.S. Stock Futures are Lower with Technology Stocks Lagging #Stocks #Technology #JOLTS

U.S. stock futures are lower with technology stocks lagging. Technology stocks are showing weakness again this morning after momentum names saw the most weakness in yesterday’s session. On the data front, later this morning markets will get a look at job openings and labor turnover when the July JOLTs report is released at 10am. European stocks are mostly lower with healthcare stocks lagging. Investors remain cautious ahead of the ECB policy decision on Thursday. Asian stocks closed mixed as Chinese producer prices fell more than expected in August.

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111 Hits

U.S. Futures are Higher with Bank Stocks Leading #Futures #YieldCurve #Brexit

U.S. futures are higher with bank stocks leading. Bank stocks are gaining as Treasury yields rise and the 2’s/10 spread widens. There is no economic data scheduled for this morning. European shares are mixed as U.K. lawmakers continue to work toward forcing PM Boris Johnson to seek a Brexit extension if a deal can’t be made by the October 31st deadline. Asian shares closed mostly higher despite weaker than expected 2Q GDP growth and weaker export data out of China.

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132 Hits

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