BY: MARSHALL BARTLETT
Senior Vice President / Portfolio Manager
(615) 591-0611 mbartlett@argenttrust.com
Announced this morning, the economy added 103,000 jobs in March, lower than the 175k estimated by economists. The unemployment rate held steady at 4.1%. A gauge on wages, average hourly earnings increased 0.3% for March and increased 2.7% on an annual basis, as expected. A lower headline number than previous months coupled with expected wage growth suggests the Federal Reserve should remain on track with their measured rate increases in the months ahead.
In addition, trade tensions are continuing between the U.S. and China, as the White House is considering an additional $100 billion of tariffs on Chinese imports. China responded indicating they will combat these “at any cost.” As we head into the first quarter earnings season, market volatility is likely to continue until the uncertainty created by these trade tensions dissipates. In all, equity futures are lower this morning heading into the market open.
This information has been prepared by Argent Trust to highlight issues which may be of interest to the recipient and is not intended as legal, investment or tax advice. You are urged to seek legal, tax and accounting counsel for your particular situation before acting on topics discussed here. At Argent Trust, we assist our clients in managing and enhancing their wealth. Please call us at 615.591.0044 with questions or to schedule a meeting. © 2018 Argent Financial.
