The Morning View from the West End: August 3, 2018

  • August 6, 2018

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

Announced this morning, the economy added 157,000 jobs in July, a bit below forecasts. The unemployment rate fell one-tenth to 3.9% as expected. Average hourly earnings increased 0.3% for July and 2.7% on an annual basis. Although the headline jobs number for July was below forecasts, it was offset somewhat by an upward revision in June. Additionally, the average hourly earnings reading shows wage growth remains at levels seen in recent months, not accelerating substantially. Given this report, the Federal Reserve likely remains on track for their measured increases in the months ahead, assuming inflation remains at current levels. In all, equity futures are mixed and bond rates are unchanged following the report.

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.