Retailers, home builders and oil companies gave stocks a lift on Tuesday.
Major U.S. stock indexes hovered around record levels during the session but pared their gains toward the close, capping another session of meager moves in thin trading. U.S. stock-trading volume was below average for the month and the year, WSJ writes. Home builders were among the biggest gainers, with Lennar, D.R. Hortonand PulteGroup each rising nearly 3%
"That shows a little confidence in the consumer" at a time when many have been pessimistic, said Jack Duffy, head of U.S. trading at brokerage Auerbach Grayson & Co. LLC.
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
Oil's return to about $50 a barrel presents a test for an idea that gained currency early after the market's long swoon began two years ago: the "shale band," writes WSJ.
The term, coined last year by a Swiss consultancy executive Olivier Jakob last year, refers to a theory that U.S. oil production trends would be determined by two price points —$45 a barrel, below which oil produced from shale formations would drop off, and $65 a barrel, above which there would be significant shale production coming online.
In between was the shale band, a range where shale supply would be basically steady, according to Mr. Jakob, who has since revised his shale band projections down to between $40 and $60. "I think the principle has not changed and I think we saw evidence through the rig count that U.S. oil is quite sensitive," he said.
Charts that scare any bull. Despite Tuesday's gains, there's trepidation in the market, according to WSJ's MoneyBeat. "As the market grinds higher, we continue to see elevated risk of correction," say Bank of America Merrill Lynch analysts, led by Savita Subramanian.
In a note called "Exploring the Dark Side," Ms. Subramanian and her team on Tuesday took a dive into some of the factors that could be catalysts for a 10% drop in stocks. Here are four of them.
PLANNING & INVESTING
California nears its own retirement law. California legislators are expected to pass a law that will expand small business' access to workplace retirement plans, writes InvestmentNews.
If passed, California's Secure Choice program would require automatic enrollment of employers that have at least five employees and don't currently offer a workplace retirement plan, the publication says. It is expected to be passed as soon as next week and would cover roughly 6.8 million people in the state.
Making vacation-home transitions a breeze. Vacation homes are meant to be a delight, but poor planning could make passing them on as an inheritance problematic, financial advisers tell InvestmentNews.
Susan Shier, Northern Trust chief wealth planning and tax strategist, tells the publication "many parents are surprised and disappointed to learn that their kids don't want anything to do with the home."
Plenty of planning ahead of time can stave off any vacation disasters, Mr. Shier says, starting with determining whether the next generation wants to inherit the property and that they are aware of the costs.
THE BUSINESS
Despite graying, RIA industry grows. The number of investment adviser representatives at investment advisory firms has grown despite concerns around its aging workforce, writes Financial Advisor magazine, citing a new study.
The study, conducted by the Investment Advisor Association and National Regulatory Services, showed the number of Securities and Exchange-commission registered advisers was up 3.3% to 11,847 from 2015. The number of clients serviced by those firms was rose 22% from last year, while assets under management was flat at nearly $67 trillion.
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