The Morning View: August 15, 2018

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

Announced this morning, Retail Sales for the month of July increased 0.5%, more than forecasts. The increase was driven by clothing, food and beverage, as well as online shopping. Sales of sporting goods and furniture declined. The data suggests consumers are continuing to spend in the first month of the third quarter, which could lead to continued strength in the economy as consumer spending is approximately 70% of GDP. Given this activity, hopefully inflation can remain in control in the months ahead. In all, equity futures are lower this morning heading into the market open as investors continue to digest the news on how Turkey is addressing weakness in their currency.

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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