The latest inflation report came in right on expectations, but the underlying data tells a more complicated story.

In today’s episode of Markets with Megan, Megan disects the February Consumer Price Index (CPI) report and what it means for inflation, interest rates, and the Federal Reserve.

🚨 Topics Megan Covers:

• Headline inflation rises 2.4% year-over-year
• Core inflation comes in at 2.5% year-over-year
• Energy services jump 3.1% month-over-month and 10.9% year-over-year
• Medical care services rise 4% year-over-year
• Services inflation excluding shelter remains elevated at 3.3%
• Electronics and goods prices rise due to semiconductor shortages and higher metals prices

While the CPI report looked relatively tame on the surface, several key categories that affect everyday consumers are still showing strong price pressures. Rising costs in energy services, medical care, food, and consumer goods suggest inflation may not be fully behind us.

With the Federal Reserve meeting on March 18, policymakers are likely to remain cautious. Even with a routine inflation report and weaker labor market data, the Fed may hesitate to cut interest rates while energy prices and geopolitical risks remain elevated.

📊 Investors are now watching closely to see whether inflation continues to cool or begins to reaccelerate, especially as global energy markets remain volatile.

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#Inflation #CPI #FederalReserve #InterestRates #Economy #StockMarket #EnergyPrices #MarketUpdate #Investing #MarketsWithMegan

https://youtu.be/bOF6GO_3AEU

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...

Markets remain under pressure as geopolitical tensions in the Middle East continue to escalate, with a critical global energy chokepoint now at the center of investor concern.

In this episode Verdence CIO Megan Horneman explains why the Strait of Hormuz has become the market’s primary focus. The strategic waterway carries roughly 20% of the world’s seaborne oil supply, and with tanker traffic currently down as much as 90–95%, disruptions are sending shockwaves through energy markets and investor sentiment.

Oil prices have surged above $100 per barrel, while gasoline prices are climbing sharply from their January lows. As energy costs rise, investors are increasingly worried about the potential for inflation pressures and a short-term slowdown in consumer spending, especially if higher fuel prices combine with signs of labor market softness.

Megan breaks down how this uncertainty is affecting global equities, why growth stocks and high-valuation sectors are under the most pressure, and how rising interest rates are amplifying market volatility.

📊 How could rising oil prices, geopolitical risk, and inflation concerns shape markets in the weeks ahead? Watch now to hear Megan’s perspective.

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#MarketsWithMegan #OilPrices #MarketVolatility #StraitOfHormuz #Geopolitics #Inflation #StockMarket #Investing #EnergyMarkets #EconomicOutlook #Stagnation

https://youtu.be/lTlSmdB_i4U

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...

Markets faced another wave of volatility today as a weak February jobs report collided with rising geopolitical tensions and surging energy prices.

In this episode of Markets with Megan, Verdence CIO Megan Horneman breaks down the latest labor market data showing the U.S. economy lost 92,000 jobs in February, while the unemployment rate rose to 4.4%. Although the report raised concerns about labor market softness, several temporary disruptions — including severe weather, healthcare labor strikes, and ongoing federal job reductions — may have distorted the headline numbers.

At the same time, markets are grappling with rising energy prices tied to tensions surrounding the Strait of Hormuz, pushing crude oil to its highest level since 2023 and sending gasoline prices to a two-year high. These inflationary pressures are driving Treasury yields higher and weighing on risk assets.

Megan explains how rising interest rates are putting pressure on growth stocks, small-caps, and global equities, while also highlighting where market pullbacks may be creating potential investment opportunities as valuations begin to reset.

📊 What does the latest jobs report mean for the economy, inflation, and the Federal Reserve? And where might investors find opportunity amid rising volatility?

Watch now to hear Megan’s perspective.

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https://youtu.be/YDsB7Ytu3m4

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...

Markets turned sharply volatile as the Middle East conflict entered its fourth day, expanding beyond initial strikes and raising fears of prolonged disruption in the Strait of Hormuz.

In today’s special Impact Report on Markets with Megan, hear what escalating geopolitical tensions mean for oil prices, inflation expectations, Federal Reserve policy, and global markets.

🚨 Topics Megan Covers:

• Crude oil rises to $77 per barrel, highest level since January 2025
• The VIX volatility index jumps to its highest level since Liberation Day
• The S&P 500 posts its worst day since October
• All 11 sectors trade lower, led by materials, industrials, and consumer discretionary
• Two-year inflation expectations hit a 10-month high
• Fed funds futures move from 3.00% to 3.20%, pricing out rate cuts
• Tanker traffic through the Strait of Hormuz, which moves 20 million barrels per day, drops significantly
• Gasoline prices climb to $3.10, up 30 cents

With oil supply routes under threat and inflation expectations rising, markets may remain volatile in the weeks ahead. Investors are now weighing how long this conflict lasts and whether disruptions in global energy flows continue.

📊 What does higher oil mean for the economy?

• A sustained $10 increase in oil could reduce GDP by 10 to 20 basis points
• The same move could lift headline inflation by 20 basis points
• Higher gasoline prices reduce consumer spending power by billions annually

While short-term volatility is elevated, history shows that geopolitical shocks often become long-term buying opportunities. Megan explains why prior Middle East disruptions have not derailed long-term equity growth and how portfolios were positioned ahead of this risk.

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#OilPrices #StraitOfHormuz #MiddleEastConflict #Inflation #FederalReserve #InterestRates #StockMarket #VIX #EnergyMarkets #MarketVolatility #Investing 

https://youtu.be/1IDCiA-4Cwc

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...

Geopolitical tensions escalated over the weekend as the United States and Israel launched coordinated strikes on Iran, and markets reacted immediately.

In today’s episode of Markets with Megan, CIO Megan Horneman discusses what this expanding Middle East conflict means for oil prices, inflation, interest rates, and global markets.

🚨 Market Reaction:

- Oil prices surged 6%, reaching their highest level since June 2025
- Natural gas jumped 7%
- 20% of global oil flows through the Strait of Hormuz, a key risk point
- U.S. equities opened sharply lower but recovered
- Energy stocks rose 1.5%
- Consumer discretionary stocks fell 1.25%
- 2-year inflation expectations jumped to 2.9% (highest since April 2025)
- Gold moved closer to record highs
- Why This Matters for Investors

Higher oil prices increase the risk of:
✔ Rising inflation
✔ Higher interest rates
✔ Pressure on consumer spending
✔ Volatility in global equity markets

With oil supply routes potentially at risk, markets may remain volatile in the weeks ahead as investors monitor supply chain disruptions and geopolitical developments.

Is this a temporary spike or the start of a broader inflation resurgence?

Subscribe for weekly breakdowns of:
Inflation • Federal Reserve policy • GDP • Labor markets • Geopolitical risks • Market volatility

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#OilPrices #MiddleEast #Iran #Inflation #StockMarket #EnergyStocks #FederalReserve #InterestRates #Gold #MarketVolatility #Investing #MarketsWithMegan #economicoutlook 

https://youtu.be/Oj1Ecmch16M

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...

The latest economic data is sending mixed — and potentially troubling — signals.

In today’s episode of Markets with Megan, Megan reveals the newest U.S. GDP report and inflation data, and why markets are watching closely.

🚨 The Headlines:
Q4 GDP came in at just 1.4%, far below expectations of 2.8%
Core inflation rose back to 3% year-over-year
Short-term core trends accelerated to 3.1%
Durable goods inflation jumped
Consumer spending slowed, led by weaker auto sales
So what does it mean when growth weakens but inflation heats back up?

We walk through:
✔ What drove the GDP slowdown
✔ Why inflation is reaccelerating
✔ The risk of sticky price pressures
✔ What this means for Federal Reserve policy
✔ Whether rate cuts could be delayed
✔ And how investors should think about markets right now

While markets turned positive today, the combination of slower economic growth and rising inflation creates uncertainty for interest rates, equities, and bond markets.

Is this just a temporary data blip — or an early warning sign?

🎙️ Subscribe for weekly breakdowns of:
Inflation data • Federal Reserve policy • GDP reports • Labor market updates • Housing trends • Market volatility

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https://youtu.be/4NAWBQW7DrY

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...

Markets love a good data day—until the Fed has the last word. We open with a clear read on the economy’s engine room: core durable goods rose for the sixth straight month, even as the aircraft-heavy headline slipped. Under the hood, momentum clustered in AI-adjacent categories like computers, electronics, and electrical equipment, with machinery and metals showing double‑digit year‑over‑year gains. That mix points to real business investment in compute, power, and automation—signals that feed directly into fourth quarter GDP and, potentially, future productivity.

Housing adds another puzzle piece. Starts climbed to a five‑month high and permits hit a nine‑month high, hinting at a slow thaw in a starved inventory market. The surge leaned multifamily, where large projects can move faster, and the regional spread told its own story: a sharp jump in the Northeast, strength in the West and Midwest, and a softer patch in the South. More supply down the road could help cool rent inflation, one of the stickiest components in the inflation basket.

Then the tone shifts. The Federal Reserve’s January minutes leaned hawkish, with several participants endorsing a “two‑sided” stance that keeps potential rate hikes on the table if inflation lingers above target. The market’s early rally faded as equity traders recalibrated optimistic rate‑cut timelines against a Fed that’s still focused on persistent price pressures. We connect these dots: how capex strength meets policy caution, why services and shelter inflation matter most now, and where investor expectations may need to cool.

If you’re tracking the path of rates, the durability of the AI and industrial cycle, and the outlook for housing supply, this conversation is your map for the weeks ahead. Follow, share with a friend, and leave a quick review to tell us where you think rates go next.

https://youtu.be/GwQ0Agcnj2Y

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...

The labor market just surprised investors and it may change the Federal Reserve narrative.

In today’s episode of Markets with Megan, Megan Horneman breaks down the delayed January Non-Farm Payrolls report, which showed the U.S. economy added 130,000 jobs, beating expectations and signaling more resilience than many anticipated.

Despite prior concerns about weakening job openings and rising layoffs, this report revealed encouraging signs:

📈 Payroll growth beat forecasts

⬇️ Unemployment ticked down to 4.3%

👷 Temporary workers increased for the third straight month — often a leading indicator of hiring strength

⏱️ Average workweek rose, another positive signal

🏥 Gains in private education, health services, and professional/business services

Although annual revisions showed fewer jobs were created last year than previously reported, the weakness appears to be further behind us. The data suggests the labor market may be stabilizing — not deteriorating.

For the Federal Reserve, this likely means no rush to cut interest rates. A resilient jobs market gives policymakers room to stay patient, especially ahead of upcoming inflation data.

Markets reacted sharply rallying initially before reversing, highlighting just how sensitive investors remain to labor and inflation signals in early 2026.

📊 Is the labor market finding a bottom?
📉 Will the Fed stay on hold longer than markets expect?
📈 And what does this mean for equities going forward?

Megan walks through what investors should watch next.

🎧 Subscribe to Markets with Megan for daily breakdowns of economic data, Federal Reserve policy, and market implications.

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#MarketsWithMegan #JobsReport #NonFarmPayrolls #LaborMarket #FedPolicy #InterestRates #StockMarket #EconomicData #InflationWatch #MarketVolatility #Investing

https://youtu.be/6VmZ616ynhE

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...

Markets are off to a volatile and unstable start in 2026 —but why?

In today’s Markets with Megan, Megan Horneman walks through the six key forces driving market volatility, explaining how economic data, policy uncertainty, and shifting investor behavior are colliding across asset classes.

What 6 forces are shaking the markets?

1️⃣ A weakening labor market
Job openings have fallen to their lowest level since 2020, while January layoffs surged nearly 120% year over year, raising concerns that labor market cracks are widening.

2️⃣ Rising AI capital expenditures pressuring big tech
Heavy investment in AI by major hyperscalers has increased scrutiny around returns on capital, creating volatility in once-dominant tech stocks.

3️⃣ A rotation away from mega-cap leadership
Investors are moving toward small- and mid-cap stocks, with the equal-weighted S&P 500 outperforming the market-cap-weighted index — contributing to choppy market action.

4️⃣ Seasonality and midterm election uncertainty
February is historically one of the weakest months for the S&P 500, and midterm election years tend to bring deeper drawdowns and heightened volatility.

5️⃣ Federal Reserve leadership and balance-sheet concerns
Markets are reacting to uncertainty around the Fed’s future direction, particularly fears of aggressive balance-sheet reduction and its impact on liquidity and credit markets.

6️⃣ A slowing, debt-strained consumer
Disappointing December retail sales, slowing discretionary spending, and rising delinquencies across credit cards, auto loans, and student debt are signaling pressure on consumer-driven growth.

📉 With volatility hitting equities, commodities, and Bitcoin, Megan explains what these forces mean for economic growth, market leadership, and investor positioning in the months ahead.

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https://youtu.be/KpX4CniuOJE

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...

Markets reacted negatively to today’s economic data — and the labor market was at the center of the concern.

In this episode of Markets with Megan, Megan Horneman breaks down the latest U.S. labor market data, including the JOLTS report, Challenger job cuts, and weekly jobless claims, and explains why markets didn’t like what they saw.

Job openings fell to 6.5 million, the lowest level since September 2020, while the number of unemployed Americans climbed to 7.5 million. For the first time since the post-pandemic recovery began, there are now more unemployed workers than available job openings — a key signal that labor market tightness has fully reversed.

Megan also discusses why the quits rate holding at 2% may help ease wage pressures, even as broader labor conditions soften. Meanwhile, the Challenger Gray & Christmas report showed January layoffs surged 118% year-over-year, marking the worst January for job cuts since 2009. Although a large portion of layoffs came from a handful of major companies, hiring intentions fell to their lowest level on record.

Weekly jobless claims also jumped to an eight-week high, adding to investor unease — though severe weather disruptions may have played a role.

📉 With weakening labor data, rising layoffs, and declining risk assets like Bitcoin and precious metals, Megan explains what this shift in employment trends could mean for markets, wages, inflation, and the upcoming jobs report.

🎧 Subscribe to Markets with Megan for daily insights on economic data, Federal Reserve policy, and market implications.

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#MarketsWithMegan #LaborMarket #JobsReport #JOLTS #JoblessClaims #Layoffs #EconomicData #RecessionWatch #FedPolicy #MarketVolatility #Inflation #Investing #stockmarket 

https://youtu.be/pGbDBibSG1s

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...