BY: MARSHALL BARTLETT
Senior Vice President / Portfolio Manager
In this morning’s announcement, the Consumer Price Index increased 0.3% in April, a bit lower than forecasts, and grew 2.0% on an annual basis. The core rate, which excludes food and energy prices, increased 0.1% in April also a bit below forecasts and grew 2.1% on an annual basis. Another indication that inflation remains benign, near the Federal Reserve target, allowing a patient stance on interest rates to be maintained. Meanwhile, the U.S. and China are continuing to negotiate on trade following the increases in tariffs that went into effect last night. While a trade agreement is important for both sides and the global community, many economic data points in the U.S. are on stable ground with a growing economy, a firm labor market, low inflation, and a patient Federal Reserve. In all, equity futures and yields are lower this morning heading into the market open given the ongoing trade discussions.
This material is intended to be for informational purposes only and is intended for current or prospective clients of Argent Trust Company. This information is obtained from sources believed to be reliable, and its accuracy and completeness are not guaranteed. Information does not constitute a recommendation of any investment strategy, is not intended as investment advice and does not take into account all the circumstances of each investor. Forward‐looking assumptions are Argent Trust Company’s current estimates or expectations of future events or future results based on proprietary research and should not be construed as an estimate or promise of results that a portfolio may achieve. Actual results could differ materially from the results indicated by this information. Investments can go down as well as up. Past performance is not a reliable indicator of future results.