Markets with Megan: A Two-Minute Financial Markets Update

020 Jobs Report 07 07 23


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Episode 020: Welcome to "Markets with Megan," where Megan Horneman, the Chief Investment Officer of Verdence Capital Advisors, provides insightful economic analysis. In this episode, Megan follows up on yesterday's podcast, which served as a prelude to the jobs report. Today, the official jobs report was released, reflecting some weaknesses seen in other labor market indicators. The report reveals the addition of 209,000 jobs, slightly below expectations and significantly lower than the previous ADP report. Join us as Megan breaks down the details and analyzes the implications. Despite the overall weaker job report, the Federal Reserve will focus on the declining unemployment rate and the rise in average hourly earnings, an indicator of inflation. With average hourly earnings increasing over 4 percent year-over-year, it is likely that the Federal Reserve will raise rates in July. However, there are underlying weaknesses, such as a decline in temporary workers and downward revisions to prior months. The Fed's approach may remain data-dependent. Stay tuned for further insights on inflation indicators to gain a better understanding of their September actions. The equity markets are responding with mixed sentiments, as this report offers both bearish and bullish elements. Megan anticipates continued labor market weakness throughout the year, making a recession in the next 12 months increasingly probable. For questions or comments, please reach out to us at [email protected]. Thank you for joining us on this episode of "Markets with Megan"!

https://youtu.be/XKJyFqmn7Jk

Disclaimer: material was prepared by Verdence Capital Advisors, LLC (“VCA”). VCA believes the information and data in this document were obtained from sources considered reliable and correct and cannot guarantee either their accuracy or completeness. VCA has not independently verified third-party sourced information and data. Any projections, outlooks
or assumptions should not be construed to be indicative of the actual events which will occur. These projections, market outlooks or estimates are subject to change without notice. This material is being provided for informational purposes only and is not intended to provide, and should not be relied upon for, investment, accounting, legal, or tax advice. Past performance is not a guarantee of future results. Different types of investments involve varying degrees of risk, and there can be no assurance
that the future performance of any specific investment, investment strategy, or product or anynon-investment related content, made reference to directly or indirectly in these materials will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. You should not assume that any
discussion or information contained in this report serves as the receipt of, or as a substitute for, personalized investment advice from VCA. Due to various factors, including changing market conditions and/or applicable laws, the co...

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Markets with Megan: A Two-Minute Financial Markets UpdateBy Megan Horneman

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