Megan Horneman, Chief Investment Officer at Verdence Capital Advisors, brings you the latest insights into the surge in service sector growth in today's episode. Megan discusses the recently unveiled data on the service sector, a pivotal aspect of American consumer spending. This report, surpassing expectations, reflects a substantial upswing, particularly in imports and the attention-grabbing prices paid component. The surge in this service number, the highest in monthly growth since August 2012, has caught the eye of the Federal Reserve, raising concerns about inflationary pressures. As a result, equity markets are responding with a dip, and the outlook hints at a reconsideration of the timeline for future rate hikes. If you have questions or comments please reach out to podcast at Verdence dot com.

Watch today's episode here: https://youtu.be/tRKUk4-YJe8

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...