Welcome back, and a Happy New Year to all our listeners! Today, Megan Horneman looks into the latest insights from the ISM Manufacturing Report, a crucial indicator for the overall manufacturing sector in the US. Despite being in contraction territory for the 14th consecutive month, Megan touches on why this doesn't necessarily signal an impending recession. She breaks down the various components of the report, highlighting significant declines in inventories and prices paid, which, while negative for the index, could positively impact inflation. Megan also talks about the weak areas, such as new orders and customer inventories, emphasizing their role as leading indicators for the economy. If you have any questions or comments, feel free to reach out to podcast at Verdence dot com. Here's to another great year of Markets with Megan. Thank you for tuning in! 

Watch today's episode here: https://youtu.be/UMKmSw_xmG4

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...

Megan unpacks the latest inflation trends in our final episode of the year. She offers her view on the PCE Core deflator's latest figures—a key indicator the Federal Reserve keeps under close watch. With a decrease in the year-over-year rate, she expertly breaks down what this may spell for the Fed's monetary policies and how it contrasts with investors' hopeful outlook on future rate cuts. This analysis is a must-hear for anyone looking to understand the implications of these economic shifts as we say goodbye to this year and cautiously step into the next.

As we end the year with nearly 90 episodes of Markets with Megan, this session is a reflective look back and an eager glance forward. Megan extends her heartfelt thanks to all of you who've joined us. She looks forward to more in-depth discussion to come in 2024, ensuring that our conversation on the ever-evolving market dynamics continues. As the holiday cheer sets in, Megan's invitation stands: reach out, engage, and be part of the dialogue that shapes our understanding of the markets. Happy holidays, and here's to a prosperous New Year from all of us at Verdence Capital Advisors! 

https://youtu.be/7upw8925V6k

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...

In today's episode, Chief Investment Officer Megan Horneman, takes a look into the latest economic data. Megan discusses data on various indicators, including jobless claims, GDP, and Empire Manufacturing, with a focus on the significant Leading Economic Indicator Index. Highlighting the 20th consecutive month of negative readings, she explores the prolonged negativity in the index amid overall market optimism. Despite weak areas in the economy for November, such as the work week, jobless claims, and consumer confidence, Megan reflects on the historical context of the index, challenging expectations.  For questions or discussions, reach out to the podcast at Verdence dot com. 

https://youtu.be/WEtLF15kgks

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...

In this episode of Markets with Megan, Chief Investment Officer Megan Horneman, provides insights into the December Consumer Confidence Report. The report reveals a significant surprise, surpassing expectations with the highest levels of consumer confidence since July. Megan breaks down the index's components, emphasizing the positive impact of decreasing interest rates and the recent dovish stance of the Federal Reserve. Despite the optimistic outlook, she suggests against unwarranted optimism and highlights potential risks for the economy in the coming year. Megan also notes the need to monitor consumer spending closely, as excessive confidence could reignite inflation, undoing the Federal Reserve's efforts. Stay tuned for more insights on the PCE deflator later this week, and for any questions or comments, reach out to us at podcast at Verdence dot com.

https://youtu.be/-HPG6sj9KaQ

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...

In our last segment, we discussed the positive NEHB Housing Sentiment Index, and in today's episode, we're excited to share more good news with the Housing Starts and Building Permits report. Housing Starts defied expectations, surging by an impressive 15% in November, marking the most significant monthly increase in six months. The focus was on single-family home starts, particularly in the Northeast and the South regions. However, Building Permits, showed a modest decline, adding a twist to the narrative. As we analyze the housing data, we observe the aftermath of the October peak in mortgage rates at 7.9%, which has since dropped nearly a full percent to around 7%. For any questions or comments, please reach out to us at podcast at Verdence dot com.

https://youtu.be/-HPG6sj9KaQ

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...

In today's episode, Chief Investment Officer Megan Horneman takes a look into the latest housing market insights. Discussing the November NEHB Housing report, Megan notes a surprisingly positive sentiment despite historical weaknesses, attributed to a near-term peak in interest rates and subsequent declines in mortgage rates. An important trend to focus on includes a significant 60% of surveyed developers extending incentives to spur demand, addressing concerns about housing inflation. Additionally, 36% of builders reported cutting prices for the month, suggesting a potential bottom in housing inflation. Megan mentions the importance of continued vigilance in monitoring data trends in the future. Stay informed on economic updates by joining for future episodes, and for any questions or comments, reach out to  podcast at Verdence dot com. 

https://youtu.be/w3gim47iszM

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...

In the latest episode of "Markets with Megan," Chief Investment Officer Megan Horneman talks about the recent Federal Reserve meeting and press conference led by Jerome Powell. Megan provides a comprehensive overview of the decision to maintain unchanged interest rates, while discussing the sentiments suggesting potential rate cuts in 2024. She focuses on key points from the press conference, such as the Fed's cautious stance on interest rates, reduced inflation expectations, and a dovish outlook on economic growth. Highlighting the committee's acknowledgment of potential weaknesses in the economy and the expected easing in the job market, Megan notes the positive impact on equities and significant changes in bond market yields.

https://youtu.be/a88YMjmohzM

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...

Season's greetings! In today's festive episode of Markets with Megan, Chief Investment Officer Megan Horneman transforms the classic "12 Days of Christmas" into 12 unique wishes for 2024. Megan wishes for everything from hoping for one million more homes on the market to dreams of a 2% inflation target and envisioning a 6% mortgage rate. Whether it's a desire for an equity rally beyond the current dominant companies or a wish for 12 months with no rate hikes by the Federal Reserve, Megan is embracing the holiday spirit with optimism and good cheer. While acknowledging the likelihood that some wishes are extremely unlikely, it's all in the joy of the season. Reach out to podcast at Verdence dot com for questions, insights, and economic updates. Wishing you a joyful and prosperous holiday season!

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...

In this episode of Markets with Megan, Chief Investment Officer, Megan Horneman discusses the current economic landscape. Megan focuses on the persistent contraction in the ISM Manufacturing Index, signaling potential recessionary conditions. Despite economic concerns, markets are rallying due to comments from Federal Reserve Chairman Jerome Powell, hinting at a more dovish stance in 2024. Megan suggests against over-optimism, citing ongoing inflation issues and the Fed's commitment to avoiding its resurgence. Stay tuned for next week's insights, featuring crucial economic data such as the ISM services report and the monthly payroll report. 

https://youtu.be/-iObUmiG4x0

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...

In today's episode of "Markets with Megan," we take a look into key economic indicators from October, focusing on personal income and spending, the labor market, inflation, and pending home sales. Despite personal income and spending hitting expectations, the personal savings rate edged up, though it remains notably lower than the 20-year average. Megan talks about the unchanged initial jobless claims but mentions a significant increase in continuing claims, signaling challenges in the labor market. The Fed's preferred gauge for inflation, the PCE core, showed that the year-over-year figure remains above the target range at 3.5%. Unfortunately, pending home sales took a hit, reaching their lowest level on record. These early indicators for the fourth quarter suggest a shift from the third quarter, with potential weaknesses coming. Tune in next time as we analyze ISM Manufacturing which is expected to be in contraction territory again. For any questions or comments, reach out to us at podcast at Verdence dot com. 

https://youtu.be/awODUE2mn-w

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...