Seems the S&P 500 has been trading in its narrowest range in decades, showing just how muted market activity has been. In the 17 trading days through last Thursday, the S&P 500 moved less than 0.75% between its daily high and low. That is the most consecutive days with such a narrow trading range in records that go back to 1970, according to Ryan Detrick, senior market strategist at LPL Financial.
The streak was broken on Friday when the S&P 500 swung 1.28% from its session's low to high. But it began anew on Monday and continued Tuesday.
The second-longest streak with such narrow moves? The 16 days from July 11 through Aug. 1 of this year.
Below, some of the best analysis and insight from WSJ writers and columnists, and beyond, on investing, the wealth-management business and more.
TALKING POINTS
Tuesday's markets. Amid the lightest trading volume of the year, U.S. stocks edged lower as the dollar strengthened on expectations that the Federal Reserve was moving closer to raising interest rates, The Wall Street Journal writes. The Dow Jones Industrial Average fell 0.3% to 18454. The S&P 500 and Nasdaq were off 0.2%.
Bank insurance. The Federal Deposit Insurance Corp. said its bank deposit-insurance fund stood at $77.9 billion at the end of the second quarter, the WSJ writes, a long way from the $20.9 billion deficit at the end of 2009 that was driven by a flood of bank failures.
Taxing times. The European Union's antitrust regulator has demanded that Ireland recoup roughly $14.5 billion of unpaid taxes over a decade from Apple, the WSJ writes, a move that could intensify a feud between the EU and the U.S. over the bloc's tax probes into American companies. Apple disputed the reasoning of the decision and said it would appeal.
THE PRACTICE
Home run. Darla Kashian, a financial adviser at RBC Wealth Management in Minneapolis, tells WSJ Wealth Adviser that wealth managers with high-net-worth clients who want to help their parents should consider facilitating a home purchase. Among her tips: Coordinate with siblings who may not share a wealthy client's means.
THE BUSINESS
Finra fine. Caldwell International Securities Corp. agreed to pay more than $2 million in fines and restitution to settle charges from the Financial Industry Regulatory Authority that senior management failed to rain in partner offices where brokers where churning accounts, Reuters writes.
JUST BECAUSE
Fantasy football. The WSJ's sports department explains why participants are passing on running backs in the early rounds of drafts and opting for wide receivers instead. The National Football League has become pass-heavy, most obviously, but a popular league format that counts points per reception has given receivers added value. (Editor's note: I wasn't satisfied with my team in one draft where I used this strategy.)
The Wealth Adviser briefing covers topics of special interest to wealth managers, financial planners and other advisers. It's delivered to subscribers by email each workday morning. If you haven't done so already, you can sign up for it here: http://on.wsj.com/WealthAdviserSignup.
