Market Digest \u2013 Week Ending 9\/2\r\n\r\nIt was another boring week for markets. Domestic stocks bounced around a little, ending the week slightly higher after Friday\u2019s weaker than expected jobs report dampened expectations for a September rate hike. Foreign stocks were also up, while gold and the dollar were relatively flat. Oil prices continued to fall after US government data showed supplies at the highest level in 20 years.\r\n\r\nWeekly Returns:\r\n\r\nS&P 500: 2,180 (+0.5%)\r\nFTSE All-World ex-US: (+1.7%)\r\nUS 10 Year Treasury Yield: 1.60% (-0.03%)\r\nGold: $1,325 (+0.3%)\r\nUSD\/EUR: $1.116 (-0.3%)\r\n\r\nMajor Events:\r\n\r\n\u2022 Monday \u2013 Consumer spending and incomes increased 0.3% and 0.4%, respectively, in the month of July. Both were in line with expectations.\r\n\u2022 Tuesday \u2013 Mondelez International officially dropped its pursuit of Hershey after its latest offer was spurned. Shares of the chocolate maker fell 11% on the news.\r\n\u2022 Tuesday \u2013 The EU ordered Apple to pay $14.5 billion in owed taxes, stating the technology giant benefited from illegal tax benefits in Ireland.\r\n\u2022 Wednesday \u2013 The US pending home sales index increased 1.3% in July, coming in ahead of expectations.\r\n\u2022 Friday \u2013 US payrolls increased 151,000 in August, falling short of estimates and adding uncertainty to the timing of the Fed\u2019s next rate hike.\r\n\r\nOur take:\r\n\r\nLabor Day weekend is upon us\u2014the unofficial end of summer for most, and the beginning of summer for those in the Bay Area. But regardless of where you live, it\u2019s a weekend of travel, leisure and relaxation.\r\n\r\nHowever there was an important piece of news last week that didn\u2019t receive much attention\u2026For some, it might even provide an extra sigh of relief as we head into the three day weekend.\r\nLast week the IRS issued Revenue Procedure 2016-47, which officially changed its rule on retirement plan rollovers. Previously, if you were rolling over a retirement plan and took possession of the assets, often in the form of a check, there was a 60 day deadline to get it into another retirement account. And there were NO exceptions. This means if you accidentally missed the deadline you had to pay ordinary income tax on the full amount, and you would lose the tax-deferred status of the account. Those under the age of 59\u00bd would also be hit with a 10% penalty. Those are pretty severe consequences. \r\n\r\nWell it appears the IRS now recognizes life can get in the way. They didn\u2019t eliminate the 60 day deadline, but they are allowing it to be waived under certain circumstances. Some examples include a lost check or death in the family. You can find the full rule here: Waiver of 60-Day Rollover Requirement. Either way, this is a win for investors. Tax-deferred retirement accounts provide valuable compound growth over time. It\u2019s a gift from the government you don\u2019t want to lose.\r\n\r\nEnjoy Labor Day weekend.