Ready to unravel the mysteries of the latest retail sales report? Buckle up, as I take you on a journey beneath the surface of these whopping numbers. We'll reveal the unexpected winners and losers, with sectors like autos, furniture, and electronics not quite riding the wave. But wait till you hear about the explosive growth of internet sales — all thanks to Amazon's Prime Day!

However, it's not all rosy, as we grapple with some hard-hitting questions about the potential sustainability of this consumer resilience. Will factors like higher gasoline prices, looming student loan repayments, and rising credit card debts be the straw that breaks the camel's back? Tune in as we also decipher the market's reaction to the report and its fear of an unending Federal Reserve tightening cycle. For all the investment enthusiasts out there, join me to gauge the market and the future possibilities. And always, feel free to reach out with your questions or comments at podcasts at verdence dot com. 

https://youtu.be/2zMUMTqInpE

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 delivers a comprehensive review and recap of the second quarter earnings season. With over 90 percent of S&P 500 companies having already reported their earnings, Megan highlights that an impressive 80 percent of them have exceeded estimates, surpassing the five-year average. Notably, earnings have surpassed initial estimates by a remarkable five to seven percent, a significant deviation from the typical three to five percent trend.

Megan sheds light on standout sectors, such as consumer discretionary, which has demonstrated sustained demand for areas like hotels, leisure, and recreation. This phenomenon, coupled with the pivotal role of Amazon, has propelled the consumer discretionary sector to achieve robust earnings during this quarter. Conversely, the energy sector faced challenges, marked by a staggering 50 percent year-over-year decline due to lower energy prices.

Beyond earnings, Megan addresses the intriguing trend of companies experiencing less margin squeeze than initially predicted. The ability to pass on prices has played a key role in maintaining healthier profit margins. Looking ahead to 2024 and beyond, Megan emphasizes the current lack of consensus among analysts regarding earnings projections, warranting continued vigilance.

For more insightful analysis, updates, and expert opinions on the financial landscape, stay tuned to "Markets with Megan." If you have any questions or feedback, we invite you to connect with us by reaching out to the podcast at verdence.com. Thank you for joining us on this journey of financial exploration and understanding.

https://youtu.be/0a7oMc87lZk

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...

Do you ever wonder how global events impact your wallet? Brace yourself for a deep dive into the murky, complex world of commodity markets. Join me, Megan Horneman, Chief Investment Officer at Verdence Capital Advisors, as we explore how the Russia-Ukraine war and Saudi Arabia's decision to extend production cuts are increasing pressure on the oil market, and consequently, your gas price.

The heatwave isn't just making you sweat, it's making your wallet lighter too. We'll unravel how rising temperatures are causing refineries to operate below capacity, leading to higher gasoline prices. But what does this mean for consumer spending and inflation in the coming months? Tune in as we dissect the impacts of these market trends and make sense of the numbers shaping your financial future. Questions or feedback? Don't hesitate to reach out at podcasts at verdence dot com. 

https://youtu.be/mrDabr0NoyE

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...

Are you ready to truly understand the monthly jobs report and its impact on the equity market? By the end of this episode, you may have a whole new perspective. I'm Megan Horneman, Chief Investment Officer for Verdence Capital Advisors, and I'll be your guide as we navigate this seemingly 'just right' report. Today, we appreciate the decrease in the unemployment rate, celebrate the better-than-anticipated average hourly earnings, and cheer for the decline in the underemployment rate.

As we delve deeper, we reveal the slowest duo of job creation months since the end of 2020 and the beginning of 2021. We'll discuss the significance of the declining weekly work hours and the downward trend of temporary workers, and how these could mean a potential rise in unemployment. The market may be happy with this report for now, but we'll explore what it might imply for the Fed's decisions. So, join us for a revealing conversation, and don't forget to drop us a line with your queries or comments. 

https://youtu.be/qdQHi_x9ngI

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...

Ever wonder how the uncelebrated ISM Service Report could impact your wallet? Well, curiosity is rewarded in this episode of Markets with Megan. Your host, Megan Horneman, is primed to illuminate the world of the service sector - an essential, yet often overlooked, part of our economy. Unpack the sector's importance and learn about the resilience it has shown in recent months. From medical to financial services, cell phones to transportation, discover these expenses' significant role in our daily lives.

In this episode, we dare to venture into the world of inflation, highlighting the jump in the price-paid component and backlog of orders. We also expose potential cracks in the labor market, with the employment component teetering on the brink of contraction. Megan, Chief Investment Officer for Verdence Capital Advisors, walks us through these developments, their potential implications for the Federal Reserve, and how they might echo in the upcoming employment report. Tune in for an in-depth analysis of economic data you won't find elsewhere and be prepared to reach out with questions or thoughts - we're all ears.

https://youtu.be/L00PAoDcS9g

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...

Imagine the enormity of our national defense spending, now imagine spending just as much on simply covering the cost of our debt. That's the stark reality facing the US economy, as Fitch downgrades US government debt from AAA to AA+. This week on 'Markets with Megan' we delve into the ramifications of this downgrade, the rising interest rates, and a slowing economy, all of which are causing significant tremors in the equity and bond markets. Join us as our Chief Investment Officer, Megan Horneman, unravels the financial market dynamics, and paints a vivid picture of the looming economic headwinds.

As we discuss the financial storm gathering on our horizon, Megan shines a light on the net interest costs expected to skyrocket by another 50% over the next five years. Fiscal and monetary policies are handcuffed, unable to offer much-needed relief. The episode takes a closer look at the impact of rising interest rates on equities, with a keen eye on the hard-hit tech and high PE businesses. So, tune in to navigate the economic maze, understand the reasons behind the debt downgrade, and prepare for its market implications. Don't hesitate to reach out with your thoughts or queries at podcast at verdence .com as we continue to decode global economy trends.

https://youtu.be/hvxHsGa2MVU

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...

Are we standing on the brink of a recession? Join us as our Chief Investment Officer, Megan Horneman, takes a deep dive into the ISM Manufacturing Index - an often overlooked but crucial economic indicator. With a compelling discussion on how the index has plunged into contraction territory for a concerning nine months, Megan highlights how this has historically signaled an impending recession. Listen in as she unpacks each component of the index, all of which are also in contraction, and elaborates on the impact of these on inflation, the supply chain, and most crucially, the labor market. 

Megan doesn't hold back, bringing to light the troubling fall in employment rates, which are hitting lows not seen since July 2020. She paints a stark picture of the correlation between this level of the index and the unemployment rate, pointing out the disconnect in current trends. This is no ordinary dip in the market; this raises real fears for the future of our labor force. As she voices her concerns about potential cracks in the market, Megan echoes the need for caution as we navigate the second half of this year. Got a burning question or want to share your thoughts? Shoot us an email at [email protected]. This episode promises to be an enlightening exploration of the economic landscape, one you definitely won't want to miss!

https://youtu.be/3MuSnEpl5B8

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...

Ready to uncover some startling revelations about the U.S. economy? Join us as we welcome Megan Horneman, the Chief Investment Officer for Verdence Capital Advisors, in a riveting discussion about the Federal Reserve Senior Loan Officer Survey. Megan points to some concerning data, like the increasing number of banks tightening their lending standards for both large companies and small businesses since the pandemic began. She reveals that the current lending conditions are now worrisomely similar to those of the Great Recession.

But that's not all. In this deep dive, Megan also highlights the decline in demand for commercial and industrial loans, painting a somewhat grim outlook for the future. She emphasizes that these tight lending conditions do not immediately impact the economy, but rather have a delayed effect. So, as we brace ourselves for what might lie ahead in the second half of the year, this episode is a must-listen for anyone interested in understanding the potential economic challenges that may arise due to these shifting lending trends. So, don't miss out on this enlightening discussion with Megan Horneman.

https://youtu.be/S6gX9DyAJks

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...

Ever wondered what effect the return of federal student loan repayments could have on the economy? This episode of Markets with Megan Horneman, Chief Investment Officer for Verdance Capital Advisors, will make you sit up and take notice as she unpacks the potential ramifications of the resumption of these payments. You'll be engrossed as Megan explains how this could potentially expedite a reduction in consumer spending power, with an estimated $205 billion less to be spent each year, equating to roughly 0.75% of nominal GDP.

As Megan delves into what the fourth quarter may hold, we're left pondering the impact this might have on already burdened consumers. Projections suggest that spending patterns could alter, the overall economic outlook may darken, and we could be on the brink of a bearish economy. Tune in for this insightful discussion on a topic that's not getting the attention it deserves but could significantly influence the state of our economy. After the episode, if you have any burning questions or thoughts, we'd love to hear from you. Don't miss out on this engaging dialogue that could reshape your understanding of student loans and their effect on the economy.

https://youtu.be/i_V6gGL9kq0

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...

Get ready for an engaging week ahead as we prepare for the reports of about 150 companies in the S&P 500. With companies like Microsoft, Alphabet, Meta, Visa, and even some energy companies like Exxon, this week promises to be a potential market mover. Keep an ear out for more updates as we continue to track the earnings season and its impact on the market. Have questions or comments? Reach out to us at podcasts at Verdence dot com. Listen in as Megan provides insights only a seasoned investment officer can.

https://youtu.be/VekRAtP3zRo

Transcript (first 1500 words):
Hello, this is Megan Horneman, the Chief Investment Officer for Verdence Capital Advisors, coming to you with Markets.
With Megan, what we're going to do is give a little bit of an update on what we're seeing thus far for second quarter earnings season and then a preview of the companies that are coming out this coming week.
So last week we concluded the second week of earnings season.
The S&P 500 earnings are still expected to decline by the most that we've seen since the pandemic, but earnings season has been mixed.
We've had some better reports, especially in the financial side, the big financials but we have about 60% of the companies that are beating their earnings per share estimate.
We only have roughly 90 of the 500 companies that have reported thus far.
The bulk of it is going to be this coming week.
But here's the key takeaways that we've seen out of the financials and a couple of the tech and discretionary names.
First of all, there is still concern about the consumer.
The consumer is not as solid as some of the headline and economic data shows.
We're seeing that with some of the big banks and credit card companies increasing loan loss reserves for credit, for consumer credit, and we're actually seeing them taking losses already for delinquent credit cards.
From a business perspective, the big banks are increasing their loan loss provisions, meaning that they're expecting more companies to default.
The banks, the small and mid cap banks we got some information out of them and we're seeing that they're going to struggle for a while with an increase in regulations and now they're trying to repair their balance sheets.
So there's no room for error there from a small and mid cap banking perspective.
And then, lastly, we've seen margins are still a concern.
We s

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...