The Morning View from West End: May 4, 2018

BY: MARSHALL BARTLETT
Senior Vice President / Portfolio Manager
(615) 591-0611   mbartlett@argenttrust.com

Announced this morning, the economy added 164,000 jobs in April, lower than the 191k expected. The unemployment rate ticked two tenths lower to 3.9%, the first time it has been below 4% since the year 2000. Average Hourly Earnings increased just 0.1% for the month and increased 2.6% on an annual basis.

Overall, an adequate headline jobs number with a softness in Average Hourly Earnings. While wage growth remain elusive, the unemployment rate moving below 4% suggests a tight labor market in the future and possible upward wage pressure. The Federal Reserve likely remains on track for their planned interest rate increases in the months ahead.

Trade talks between the U.S. and China ended after two days, without resolution on some key issues. Both sides agreed to continue talking, although it is unclear how or when this will occur. As a result, the overhang of uncertainty over trade should continue to weigh on the markets. 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.

About

Argent Financial Group

Celebrating its 30th anniversary in 2020, Argent Financial Group (Argent) is a leading, independent, fiduciary wealth management firm. Responsible for more than $30 billion in client assets, Argent provides individuals, families, businesses and institutions with a broad range of wealth management services, including trust and estate administration, investment management, ESOPs, retirement plan consulting, funeral and cemetery trusts, charitable organization administration, oil and gas (mineral) management and other unique financial services. Headquartered in Ruston, Louisiana, Argent was formed in 1990 and traces its roots back to 1930.

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