From the desks of Stanley Katz & Lauren Madera
STAY SAFE & HEALTHY!
US stock market indices had mixed results during the shortened trading week (i.e., DJIA: -0.27%, S&P 500: -0.70%, Nasdaq: +0.55%). The economic theme du jour now features the debt ceiling, which the US hit this past Thursday. Capitol Hill will start debating the matter over the next few months as US Treasury Secretary Yellen estimates a June outright default. Looks like we will have another 2011-like showdown in Congress. For an in-depth view on this topic click the Schwab link below.
Although it appears that the economy is slowing, one piece to the puzzle seems out of place: wages. The labor market remains tight even with recent layoff announcements, most notably stemming from the tech sector. If the economy effectively absorbs the layoffs, wage rates could remain sticky. Thus, inflation may stay for a while. Click the Northern Trust research piece below titled “Watching Wages.”
Below are links to a number of third-party research reports that we have read and analyzed over the past week. We hope you will find the information interesting, useful, and worthwhile.
J.P. Morgan Asset Management:
Stanley Katz & Lauren Madera, Financial Advisors
ClientFirst Financial Strategies, Inc.
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