Employment Update, Inflation Update - September 13th, 2024
Employment Report – By RJ Economist, Eugenio Aleman
Last weeks job number was a mixed bag in my opinion. The number came in stronger than Raymond James expected at 142,000, but both previous months were revised lower. These revisions are starting to become the norm, and sets expectations for a revision for August. Below is Eugenios opinion.
Consumer Price Index Release – By Eugenio Aleman.
The inflation number was another mixed number, as the month over month reading was higher than expected at 0.3% compared to expected 0.2%, yet the year over year reading, was lower at 2.5% down from last years 2.9%. Due to a surprise in shelter costs increasing. This gives the federal reserve a stronger narrative to drop rates at a gradual pace, rather than an increase in larger 50 basis point cuts.
Barrons Article – September Lives Up to Its Reputation for the Stock Market—at Least for 1 Day
Last week Barron’s had an article out regarding the month of September. Below is the link and an important snip I wanted to share with you!
Information was developed by First Trust, an independent third party. The opinions of Brian S. Wesbury, Robert Stein and Strider Elass are independent from and not necessarily those of RJFS or Raymond James.
