The Morning View: August 30, 2018

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

Announced this morning, personal spending rose 0.4% in July as expected, while personal income increased 0.3%, slightly lower than expected. Both figures show the consumer remains strong and should continue to support economic growth. Meanwhile, inflation measures remain at the high end of the acceptable range for the Federal Reserve. The US Personal Consumption Expenditures (PCE) deflator increased 0.1% for July and has increased 2.3% on an annual basis. The core PCE deflator, which excludes food and energy, increased 0.2% in July and is up 2.0% on an annual basis. Both increased as expected, which means the Federal Reserve likely remains on track with measured interest rate increases in the months ahead, as stated by chair Jerome Powell last week. 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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