Podcasts about treasury note

Advisors on This Week's Show Michael Hoelzl Art Rothschild Kyle Tetting Steve Giles With Max Hoelzl Engineered by Jason Scuglik Market Closings for the Week Nasdaq – 26518, up 629 points or 2.4% S&P 500 – 7501, up 69 points or 0.9% Dow Jones Industrial Average – 51656, up 362 points or 0.7% 10-year U.S. Treasury Note – 4.45%, down 0.03 point With an abundance of economic data this week we have a lot to cover. Here's some of the key topics and insights: The Iran crisis reinforced the global economy’s resilience. Markets and industries adapted, countries with strategic energy reserves fared better, energy efficiency continues to improve, and AI-related investments helped support markets during the turmoil. The Fed signaled a more hawkish tone under Chairman Kevin Warsh. The dot plot points to possible future rate hikes, Warsh maintained his skepticism toward forward guidance, and new internal task forces suggest a broader review of how the Fed operates without threatening its independence. Corporate earnings expectations remain strong. After 29.3% earnings growth in the first quarter, analysts expect 22.9% growth in the second quarter and roughly 25% growth for full-year 2026. Economic data continue to point to moderate but positive growth. Retail sales exceeded expectations and consumer spending remained healthy, while mixed housing and leading indicator data suggest the economy is slowing but not stalling.

Advisors on This Week's Show Michael Hoelzl Art Rothschild Kyle Tetting With Max Hoelzl Engineered by Jason Scuglik Market Closings for the Week Nasdaq – 25889, up 179 points or 0.7% S&P 500 – 7431, up 48 points or 0.6% Dow Jones Industrial Average – 51202, up 336 points or 0.7% 10-year U.S. Treasury Note – 4.48%, down 0.06 point With an abundance of economic data this week we have a lot to cover. Here's some of the key topics and insights: SpaceX IPO dominates headlines Inflation concerns continue to pressure rate-cut expectations Rising energy prices remain the biggest inflation driver and are beginning to push food prices higher again. Consumer sentiment highlights strain on lower-income households University of Michigan survey data show lower-income consumers have been hit hardest by higher gasoline prices. Geographic concerns should not automatically disqualify investment opportunities. European indexes are less concentrated in technology and communication stocks, offering diversification benefits.

Advisors on This Week's Show Dave Sandstrom Tom Pappenfus Kyle Tetting With Max Hoelzl Engineered by Jason Scuglik Market Closings for the Week Nasdaq – 25709, down 1263 points or 4.7% S&P 500 – 7384, down 196 points or 2.6% Dow Jones Industrial Average – 50867, down 166 points or 0.3% 10-year U.S. Treasury Note – 4.54%, up 0.08 point With an abundance of economic data this week we have a lot to cover. Here's some of the key topics and insights: -Markets still trading on the highs and lows of the AI trade -Friday jobs report and continued inflamatory pressures saw 10Y treasury bump past 4.5% Friday, another threat to some growth stocks -Space X IPO is close! -Spending growth continues from consumers across all income brands, which brings a still persistent dislocation between spending and consumer sentiment.

Advisors on This Week's Show Art Rothschild Kendall Bauer Kyle Tetting Tom Booth Engineered by Blake Miller Market Closings for the Week Nasdaq – 26973, up 629 points or 2.4% S&P 500 – 7580, up 107 points or 1.4% Dow Jones Industrial Average – 51032, up 453 points or 0.9% 10-year U.S. Treasury Note – 4.45%, down 0.11 point Another day, another week, more records on Wall Street.  With an abundance of economic data this week we have a lot to cover. Here's some of the key topics and insights: -One could argue that stock prices are too high, but that doesn’t mean they can’t go higher – Volatility remains in oil markets, but oil prices likely higher for longer -Bond yields have climbed a bit -Per the FBI, the rate of internet crimes is climbing, likely due to AI -Trump Accounts are starting to become available and funding begins July 4, 2026

Advisors on This Week's Show Kyle Tetting Dave Sandstrom John Sandstrom Engineered by Jason Scuglik Market Closings for the Week Nasdaq – 26344, up 119 points or 0.5% S&P 500 – 7473, up 65 points or 0.9% Dow Jones Industrial Average – 50580, up 1054 points or 2.1% 10-year U.S. Treasury Note – 4.56%, down 0.04 point A quick look into this week’s episode:  As earnings season nears its completion, markets will be set adrift again. The rising bond yields leave investors asking questions, but there are some benefits to higher interest rates. The ability to launch an ETF is not terribly costly now, and the record number of ETFs created in 2025 is creating concerns in the marketplace. And more! Listen below or wherever you find your favorite podcasts.

Advisors on This Week's Show Adam Baley Kendall Bauer Steve Giles Engineered by Jason Scuglik Market Closings for the Week Nasdaq – 26225, down 22 points or 0.1% S&P 500 – 7409, up 10 points or 0.1% Dow Jones Industrial Average – 49526, down 83 points or 0.2% 10-year U.S. Treasury Note – 4.60%, up 0.23 point Inflation is soaring, and confidence remains fragile.  With an abundance of economic data this week we have a lot to cover. Here's some of the key numbers: -Consumer prices rose 3.8% year over year.  Even stripping out volatile food and energy prices, core inflation rose 2.8%, which is well above our comfort zone. -Producer prices soared 6% year over year, driven by surging oil costs. Soaring producer prices renew inflation worries as businesses are likely to pass those higher costs on to consumers in the coming months. -Retail sales rose .5% last month, though largely driven by higher gasoline prices.  However, online shopping by consumers showed resilience. -industrial production and Business Inventories rose in April, both showing stability in consumer demand.

Advisors on This Week's Show Kyle Tetting Kendall Bauer Engineered by Jason Scuglik Market Closings for the Week Nasdaq – 26247, up 1084 points or 4.3% S&P 500 – 7399, up 153 points or 2.1% Dow Jones Industrial Average – 49609, down 19 points or 0.0% 10-year U.S. Treasury Note – 4.36%, down 0.01 point Earnings Season and Investment Insights Investors remain focused on earnings and interest rates, with a marked shift in stock prices since the end of March reflecting increasing optimism about stocks more broadly. The S&P is experiencing one of its best earnings seasons in 20 years, with growth in the first quarter looking to exceed 28%. New investment tools in the Exchange Traded Fund space continue to emerge chasing a variety of investment themes, but challenges remain as investment expense and trend-chasing obscure what's right with what's possible. On the economic front, relative stability in the labor market belies broader concerns about the war and rising prices. The reminder remains: cautious balance remains a far more prudent path than trying to predict bursting bubbles.

Advisors on This Week's Show Kyle Tetting Steve Giles Mike Hoelzl Engineered by Jason Scuglik Market Closings for the Week Nasdaq – 25119, up 282 points or 1.1% S&P 500 – 7232, up 67 points or 0.9% Dow Jones Industrial Average – 49513, up 283 points or 0.6% 10-year U.S. Treasury Note – 4.38%, up 0.07 point In this week's episode, we break down a pivotal moment for the Federal Reserve and what it means for markets going forward. With Jay Powell presiding over his final meeting as Fed Chair—while signaling he'll remain on the Board amid an ongoing DOJ probe—we unpack the historical significance of the moment and the policy decisions that came with it. Rates held steady at 3.5%–3.75%, offering investors a sense of stability, but rising disagreement within the Fed reveals a more complicated picture beneath the surface. Earnings season, meanwhile, is delivering both excitement and volatility. Standout performances from major names saw double-digit jumps following their reports. With trading volumes surging and sharp market reactions becoming the norm, investors are navigating a fast-moving landscape. We also tackle the growing conversation about U.S. debt, which has now surpassed 100% of GDP. While this milestone raises long-term concerns about fiscal sustainability, we explain why it doesn't necessarily signal an imminent crisis. Finally, we round out the episode with key economic data releases. Consumer confidence showed modest improvement in April, with optimism in the labor market offsetting concerns about geopolitical tensions and rising gas prices. On the labor front, initial jobless claims dropped to their lowest level in over 50 years, reinforcing the strength of the job market and complicating the Fed's fight against inflation. GDP growth came in at a solid 2.0% annualized rate for Q1, boosted in part by ongoing AI investment, while core PCE remains elevated around 3.2%, underscoring that inflation is still very much in play. As always – if you have any questions about what we’ve discussed this week, give your advisor a call at 414-223-1099!

Advisors on This Week's Show Kyle Tetting Art Rothschild Adam Baley (with Joel Dresang, engineered by Jason Scuglik) Week in Review (April 20-24, 2026) Significant Economic Indicators & Reports Monday No major announcements Tuesday Retail sales rose 1.7% in March, driven by higher gas prices. The U.S. Census Bureau said 12 of 13 categories reported higher revenue than February. The exception was miscellaneous stores. Gas station sales jumped 15.5% in a month when prices rose 24%, according to the U.S. Energy Information Administration. Excluding gas stations and car dealers, retail spending increased 0.6%. Sales at bars and restaurants rose 0.1%, following a 0.5% gain in February and two months of declines. Adjusted for inflation, total retail sales rose 0.8%, the most in a year. Retail sales represent about two-thirds of U.S. consumer spending, which accounts for about 70% of the gross domestic product. Prospects for home sellers brightened slightly in March with a bump up in the pending home sales index from the National Association of Realtors. The trade group said its index rose 1.5% from February but was down 1.1% from the year before. It stood more than 26% below the 2001 index base, which the Realtors consider to be a normal sales level. The association said the monthly increase in contract signings amid rising mortgage interest rates suggested pent-up demand. It cited a lack of inventory, especially for young, first-time buyers. Among the top 50 metro areas in the country, the Realtors said the Milwaukee-Waukesha area had a 13.5% one-year gain in pending sales, second only to the Kansas City area, at 15%.  Wednesday No major announcements Thursday The four-week moving average for initial unemployment claims rose slightly for the third week in a row to remain 42% below its average since 1967. A Labor Department report suggested continued reluctance among employers to let workers go. Total jobless claims dropped 1.9% from the week before to 1.9 million, which was 2.9% below the same time in 2025. Friday Consumer sentiment declined 6.6% in April as the U.S.-Israeli war in Iran continued to weigh down expectations for personal finances and the broader economy. Sentiment overall was nearly 5% lower than in April 2025 and near its low levels in mid-2022, when inflation reached 40-year highs. According to the University of Michigan survey, consumers expect inflation to rise to 4.7% in the next year and to settle around 3.5% longer term. The latest Consumer Price Index showed inflation at 3.3% in March, well above the Federal Reserve’s long-term target of 2%. Market Closings for the Week Nasdaq – 24837, up 368 points or 1.5% S&P 500 – 7165, up 39 points or 0.5% Dow Jones Industrial Average – 49229, down 218 points or 0.4% 10-year U.S. Treasury Note – 4.31%, up 0.06 point

Advisors on This Week's Show Kyle Tetting Dave Sandstrom John Sandstrom (with Max Hoelzl,Joel Dresang, engineered by Jason Scuglik) Week in Review (April 13-17, 2026) Significant Economic Indicators & Reports Monday Housing sales stayed “sluggish” in March amid the weakest market in more than 30 years, according to the National Association of Realtors. The annual sales rate dipped another 3.6% from February to 3.98 million, 1% lower than the year before. The trade group blamed elevated mortgage rates and continued lack of inventory. Another 300,000 to 500,000 houses would be needed in addition to the 1.4 million already for sale to reach the historic balance between supply and demand, the group said. The imbalance has resulted in price increases. The median sales price rose 1.6% from the year before to a record $408,880 in March. The Realtors estimated that rising prices have increased the typical homeowner’s wealth by $128,100 since 2000. Tuesday The Bureau of Labor Statistics reported that wholesale inflation rose 0.5% in March, as prices on goods increased while services were unchanged. An 8.5% jump in energy prices, including nearly 16% in gasoline, accounted for the bulk of the rise in the cost of goods. The Producer Price Index advanced 4% from the year before, the steepest increase in more than three years. Excluding volatile prices for food, energy and trade services, the core PPI rose 0.2% from February and was up 3.6% from the year before, the most since November. Wednesday No major announcements Thursday The four-week moving average for initial unemployment claims rose for the seond week in a row following five weeks of no increases. The indicator of employers' willingness to let workers go remained 42% below the all-time average, dating to 1967, according to Labor Department data. Total claims for jobless benefits fell 4% from the week before to 1.9 million, which was 3% off from where it was the year before. Industrial production sank in March for the first time in four months as output from mines, utilities and manufacturing all declined. The Federal Reserve Board said overall production fell 0.5%, although it was up 2.4% through the first quarter and was 0.7% ahead of where it stood in March 2025. Factory production dropped 0.1% from February on broad declines led by automotive, which were partly offset by increased output from construction supplies as well as defense and space equipment. Industries' capacity utilization rate fell slightly from February and stayed below its 54-year average, suggesting higher prices weren't imminent. Friday No major announcements Market Closings for the Week Nasdaq – 24468, up 1566 points or 6.8% S&P 500 – 7126, up 309 points or 4.5% Dow Jones Industrial Average – 49448, up 1531 points or 3.2% 10-year U.S. Treasury Note – 4.25%, down 0.08 point

Advisors on This Week's Show Kyle Tetting Steve Giles Kendall Bauer (with Jason Scuglik) Week in Review (April 6-10, 2026) Significant Economic Indicators & Reports Monday No major announcements Tuesday The Commerce Department signaled ongoing weakness in demand for long-lasting manufactured products as orders for durable goods declined in February for the third month in a row and the fourth time in five months. A drop-off in requests for aircraft led a 1.4% dip in orders for the month, though commercial aircraft orders boosted the year-to-year totals to an 8.1% increase. Excluding transportation equipment, orders rose 0.8% from January and were up 5.3% from February 2025. Core capital goods orders, considered a proxy for business investments, rose 0.6% for the month and increased 4.2% from the same time last year. The Federal Reserve reported that revolving credit debt outstanding rose at an annual rate of 0.6% in February. That was down from paces of 2.3% and 7.4% in the preceding months and suggests a rising reluctance among consumers to carry credit card debt. Revolving credit debt has declined 1.8% from its peak in October 2024. The report showed total consumer debt growing at an annual 2.2% pace, including a 2.8% rise in non-revolving credit, which includes student loans and vehicle financing. Wednesday No major announcements Thursday The four-week moving average for initial unemployment claims rose for the first time in six weeks but remained 42% below the long-term average. The measure is an ongoing indicator of employers' reluctance to let go of workers. The Labor Department also reported that a little more than 2 million Americans claimed jobless benefits in the most recent week. That's down 1.3% from the week before and down 2.3% from the same time last year. U.S. economic growth slowed more than previously reported at the end of 2025. The Bureau of Economic Analysts said gross domestic product rose at an annual pace of 0.5% in the fourth quarter, down from an earlier estimate of 0.7% and a pace of 4.4% in the third quarter. The bureau said lower investment accounted for most of the revision, although consumer spending also slowed, and government spending declined sharply — partly tied to the shutdown in October and November. The Bureau of Economic Analysis separately reported that consumer spending rose 0.5% in February. Meanwhile, personal income fell 0.1%, resulting in a drop in the personal savings rate. The same report showed the Federal Reserve Board's favorite inflation gauge unchanged from January at 2.8%. The Fed's long-term target for inflation broadly is 2%. Friday Higher energy prices led a surge in inflation in March. The Bureau of Labor Statistics reported that the Consumer Price Index, the broadest measure of inflation, rose 0.9% from February and 3.3% from the year before — the biggest one-year increase since May 2024. Energy costs increased 12.5% in the last year, including a 21.2% spike in gasoline prices just in March. Core inflation, excluding food and energy products, rose 0.3% from February and 2.6% from the year before. The war in Iran has taken a toll on Americans’ confidence in the economy and their financial outlooks. University of Michigan said its consumer sentiment index dropped 11% in March and was 9% below where it stood a year ago. The university said sentiment fell broadly across demographic groups. Expectations for inflation reached the highest levels since a year ago, when they shot up amid uncertainty over U.S. tariff policies. Market Closings for the Week Nasdaq – 22903, up 1024 points or 4.7% S&P 500 – 6817, up 234 points or 3.6% Dow Jones Industrial Average – 47917, up 1412 points or 3.0% 10-year U.S. Treasury Note – 4.32%, up 0.01 point

Advisors on This Week's Show Kyle Tetting Art Rothschild Adam Baley (with Max Hoelzl, Joel Dresang, engineered by Jason Scuglik) Week in Review (March 23-27, 2026) Significant Economic Indicators & Reports Monday A drop in residential building in January led a slight decline in U.S. construction spending. The Commerce Department reported a 0.3% drop in overall building expenditures. Housing, which accounts for more than 40% of all construction spending, fell nearly 1%, while manufacturing — about 9% of expenditures — declined 2%. Compared to January 2025, overall construction spending rose 1%, with housing up 2% and manufacturing down 15%. Tuesday The Bureau of Labor Statistics revised fourth quarter worker productivity growth to a 1.8% annual rate from a previous estimate of 2.8%. Output weakened to a 1.5% pace from an earlier estimate of 2.6%. In both estimates, the number of hours worked dropped 0.2%. Year to year, productivity rose 2.1% from 2024 to 2025. That was on pace with the current business cycle, which started at the end of 2019. The all-time average since 1947 is 2.2%. Productivity in the previous cycle, which included the Great Recession, averaged 1.5%. Wednesday No major announcements Thursday The four-week moving average for initial unemployment claims fell for the fourth week in a row and the fifth time in six weeks. Data from the Labor Department shows the moving average down 42% from its historic average since 1967. The lack of layoffs suggests continued employer reluctance to let workers go in a tight job market. Total jobless claims dropped 1.9% from the week before to 2.1 million, which was 0.8% behind the same time in 2025. Friday Consumer sentiment declined nearly 6% in March as the U.S.-Israel war in Iran lowered outlooks while raising expectations for inflation. Sentiment was 6.5% lower than in March 2025. Consumer forecasts for inflation rose the most since the announcement of tariff increases last April. Economists see sentiment as an indication of consumer spending, which drives about 70% of U.S. economic activity. According to the University of Michigan survey, consumers expect effects from the war to be worse in the short run, but that’s subject to how long the war lasts and the impact of higher oil prices. About one-third of the survey came before the war began.    Market Closings for the Week Nasdaq – 20948, down 699 points or 3.2% S&P 500 – 6369, down 138 points or 2.1% Dow Jones Industrial Average – 45167, down 410 points or 0.9% 10-year U.S. Treasury Note – 4.44%, up 0.05 point

Advisors on This Week's Show Tom Pappenfus Dave Sandstrom (with Max Hoelzl, Joel Dresang, engineered by Jason Scuglik) Week in Review (March 16-20, 2026) Significant Economic Indicators & Reports Monday U.S. industrial production rose 0.2% in February, following a 0.7% gain in January, according to the Federal Reserve. Manufacturing output also increased 0.2%, led by automotive products. In the last year, total production advanced 1.4% while manufacturing rose 1.3%. The capacity utilization rate, considered a leading indicator of inflation, was unchanged in February, staying at 76.3%, well below the long-term average. Tuesday Prospects for home sellers brightened slightly in February with a bump up in the pending home sales index from the National Association of Realtors. The trade group said its index rose 1.8% from January and 0.8% from the year before, though it still stood about 28% below the 2001 index, which the Realtors consider to be a normal sales level. The association credited improved affordability for the rise in pending sales. It also said affordability could be threatened by a “sluggish” job market and rising energy costs stemming from the war in Iran. Wednesday Wholesale inflation rose more than analysts expected in February with the highest jump in goods prices since August 2023. The Bureau of Labor Statistics said its Producer Price Index rose 0.7% from January. It was up 3.4% from the year before, the most in a year. Excluding volatile prices for food, energy and trade services, the core PPI rose 0.5% from January and was 3.5% higher than the year before. Demand for U.S. manufactured goods rose in January for the fourth time in six months. The Commerce Department reported that new orders for factory goods grew by 0.1% from December and were 3.5% ahead of their level in January 2025. Gains were led by commercial aircraft orders, which offset declines in automotive and military aircraft. Excluding the volatile transportation category, orders rose 0.4% for the month and 0.6% for the year. Core capital goods orders, a proxy for business investments, rose 0.1% from December and 2.9% from the year before. As widely anticipated, the policy-making committee of the Federal Reserve Board voted to hold short-term interest rates steady. After a two-day meeting, the Federal Open Market Committee noted that inflation continued to run above the Fed’s 2% target, although the economy appeared to be expanding at a solid pace and the labor market showed little change since the last meeting. Thursday The four-week moving average for initial unemployment claims fell for the third time in four weeks to 42% below its average since 1967. The Labor Department report suggested continued reluctance among employers to let workers go. Total jobless claims dropped 3.4% from the week before to just under 2.2 million, which was 0.3% behind the same time in 2025. The market for new houses sank to its slowest pace in more than three years in January. The annual rate of new residential sales fell nearly 18% from December and was the lowest since October 2022, the Commerce Department reported. As a result, the inventory of unsold new houses rose to a 9.7 months' supply. The median price for a new house fell 6.8% from the year before to $400,500. Friday No major announcements Market Closings for the Week Nasdaq – 21648, down 458 points or 2.1% S&P 500 – 6506, down 126 points or 1.9% Dow Jones Industrial Average – 45577, down 981 points or 2.1% 10-year U.S. Treasury Note – 4.39%, up 0.11 point

Advisors on This Week's Show Kyle Tetting Dave Sandstrom John Sandstrom (with Max Hoelzl, Joel Dresang, engineered by Jason Scuglik) Week in Review (March 9-13, 2026) Significant Economic Indicators & Reports Monday No major announcements Tuesday The National Association of Realtors said the pace of existing home sales rose 1.7% in February, though it was still behind the year-ago rate and around the lowest in more than 30 years. The trade group called demand “muted” as lower mortgage rates and rising wages combined to make housing more affordable than it has been since March 2022. The median sales price rose to $398,000, up 0.3% from February 2025, the 32nd consecutive increase. Wednesday The broadest measure of inflation stayed steady in February. The Bureau of Labor Statistics reported the Consumer Price Index rose 2.4% from February 2025, unadjusted for seasonality. That was the same rate as January and still above the Federal Reserve's long-term target of 2%. Shelter costs led the monthly uptick. Gas prices rose for the first time in three months — prior to subsequent spikes spurred by the Iran war. The core CPI, excluding volatile food and energy costs, was up 2.5% from the year before, also the same rate as January. Thursday The U.S. trade deficit narrowed by 25% in January to $54.5 billion. The Bureau of Economic Analysis said exports rose 5.5% from December, led by non-monetary gold and other precious metals, as well as computers and civilian aircraft. Imports shrank 0.7%, led by pharmaceuticals and automobiles. Since January 2025, the trade gap contracted by almost 58% as exports expanded 10% and imports fell 11%. The four-week moving average for initial unemployment claims fell for the third time in four weeks, suggesting employers continue to be reluctant to let workers leave. According to data from the Labor Department, the four-week number was 41% below the 59-year average. More than 2.2 million individuals were receiving jobless benefits in the latest week, up 3.5% from the week before and down less than 1% from the year before. The Commerce Department said housing starts and building permits in January continued to track below their pre-COVID levels. Although the annual pace of housing starts rose 7% from December and 9.5% from January 2025, it has been below the pre-pandemic level for nearly two years. Building permits fell both from the month before and the year before. Meanwhile, the pace of houses under construction fell again, sinking 26% below their record pace in late 2022. Friday The U.S. economy grew slower than previously estimated at the end of 2025. The gross domestic product rose at an annual rate of 1.7% in the fourth quarter, down from a preliminary report of 2.4% and below the 4.4% pace in the third quarter. The Bureau of Economic Analysis blamed the downward revision on weaker consumer spending and private investments and greater declines in government spending and exports. Adjusted for Inflation, GDP grew 2.1% in 2025, the weakest since a 2.1% decline in 2020. In a possible sign of consumer restraint, personal spending fell slightly behind the pace of personal income in January, raising the personal savings rate to its highest level in six months. The Bureau of Economic Analysis reported a savings rate of 4.5% of disposable income, which has been below the pre-pandemic level of 7.5% for more than four years. The same report showed the Federal Reserve’s preferred measure of inflation staying above its long-range target of 2%. The personal consumption expenditure index was up 2.8% from the year before, vs. 2.9% in December. The last time it was below 2% was February 2021. Durable goods orders were unchanged in January as a plunge in demand for commercial aircraft offset scattered gains elsewhere. The Commerce Department reported that orders overall ran 9% higher than the year before. Excluding volatile transportation orders, demand rose 0.4% from the month before and was up 4.4% from January 2025. Core capital goods orders, a proxy for business investments, were unchanged for the month and up 2.9% from the year before. U.S. employers posted 6.9 million job openings in January, up marginally from December but below the pre-COVID level for the third month in a row. Postings were down 43% from their peak nearly five years ago, the Bureau of Labor Statistics reported. Based on openings and unemployed job seekers, the supply of available labor has outpaced demand since July. That’s after more than four years of the balance favoring workers. The number and rate of workers voluntarily quitting – an indication of worker confidence – stayed below pre-pandemic levels for the 25th month in a row. The University of Michigan said consumer sentiment reversed course following the onset of war in Iran. Polling done before Feb. 28 showed improvements in consumer outlooks, the university said, but opinions plunged thereafter regardless of respondents’ incomes, ages or political affiliations. Overall, consumers had lower expectations for their personal finances and higher forecasts for inflation. Market Closings for the Week Nasdaq – 22105, down 282 points or 1.3% S&P 500 – 6632, down 108 points or 1.6% Dow Jones Industrial Average – 46560, down 942 points or 2.0% 10-year U.S. Treasury Note – 4.29%, up 0.15 point

Advisors on This Week's Show Kyle Tetting Tom Pappenfus (with Joel Dresang, engineered by Jason Scuglik) Week in Review (March 2-6, 2026) Significant Economic Indicators & Reports Monday A two-month expansion of the manufacturing sector slowed in February, just as it did the year before. The Institute for Supply Management said its survey-based manufacturing index signaled the second consecutive month of growth after 10 months of contraction. Prior to 2025, the index shrank 26 months in a row. The trade group said 21% of the manufacturing industry's gross domestic product contracted in February, following 20% in January. The index suggested the overall U.S. economy was growing at an annual rate of 1.7%. Tuesday No significant reports Wednesday The service sector of the U.S. economy expanded in February for the 20th month in a row and at the highest level since mid-2022. The Institute for Supply Management said the four most impactful index components rose together for the third month in a row, repeating a streak from a year ago. The ISM's survey of supply managers reported more uncertainty about trade policies following a U.S. Supreme Court ruling that found some tariffs illegal. But managers also suggested companies were learning to accommodate volatility in tariff rules. Thursday The Bureau of Labor Statistics said worker productivity rose at an annual pace of 2.8%  in the fourth quarter of 2025. The rate resulted from the annual pace of output rising 2.6% while hours worked decreased at a 0.2% pace. Productivity advanced 2.2% over the last four quarters, equal to the average since the end of 2019. That compared to 1.5% annual growth in the previous 12-year business cycle and an average of 2.2% since 1947. Labor costs rose 1.3% in the last year, and the share of output accrued to workers through compensation reached a record low in data going back to 1947. The Labor Department reported the four-week moving average for initial unemployment claims fell for the second time in three weeks. It remained 40% below its average since 1967. Total claims for the latest week declined 2.9% from the week before to just under 2.2 million. That was 1% lower than the year before. Friday Employers cut 92,000 jobs on net in February, the second decline in three months, according to the Bureau of Labor Statistics. Meanwhile, the unemployment rate edged up to 4.4%. The Bureau of Labor Statistics' monthly jobs report, combining payroll data and household surveys, offered mixed signals on a generally weaker labor market. On the plus side, the average hourly wage continued to outpace broad inflation, and the share of prime-age workers either employed or looking for jobs stayed near the highest level since 2001. On the other hand, a measure of underemployment remained above the pre-pandemic mark for the 26th month in a row, and — outside the pandemic — the employment of temporary-help workers dropped to the lowest count since 2012. Retail sales declined in January as seven of 13 categories reported lower revenue, the Commerce Department reported. Gas stations were among the decliners, reflecting lower gas prices in January. But sales at bars and restaurants, an indicator of consumer confidence, fell for the third time in four months. Consumer spending drives about 70% of the U.S. economy, as measured by gross domestic product. Adjusted for inflation, total retail sales dropped for at least the second month in a row. Inflation data for October and November are missing because of a federal government shutdown. Market Closings for the Week Nasdaq – 22388, down 281 points or 1.2% S&P 500 – 6740, down 109 points or 1.6% Dow Jones Industrial Average – 47502, down 1476 points or 3.0% 10-year U.S. Treasury Note – 4.13%, up 0.17 point

Advisors on This Week's Show Kyle Tetting Adam Baley Dave Sandstrom (with Max Hoelzl, Joel Dresang, engineered by Jason Scuglik) Week in Review (Dec. 15-19, 2025) Significant Economic Indicators & Reports Monday No major announcements Tuesday Employers continued to add jobs in November amid signs of a weakening labor market, including the highest unemployment rate in four years. The shutdown-delayed employment report from the Bureau of Labor Statistics showed 64,000 more jobs in November after a 105,000-job decline in October, the third drop in five months. Federal jobs led the October fall as total employment stayed flat since April. Temporary help — considered a harbinger of hiring trends — reached its lowest level outside of the pandemic since 2012, amid recovery from the Great Recession. Because of the 43-day government shutdown, household data was not collected in October and had a higher margin of error in November. That data raised the seasonally adjusted unemployment rate rose to 4.6% in November, the highest since September 2021. The Commerce Department reported no change in retail sales in October. Eight of 13 major categories had higher sales. Decliners were led by car dealers, home-and-garden centers and bars and restaurants. Sales fell at gas stations because of lower prices. Excluding volatile car and gas sales, retailers generated 0.5 % more revenue than in September. About two-thirds of U.S. economic activity is driven by consumer spending, a majority of which is reflected in retail sales. Wednesday No major announcements Thursday The broadest measure of inflation showed a 2.7% annual pace in November. Because of the shutdown, the Bureau of Labor Statistics skipped its October report, the first miss  since 1948, but showed a lower Consumer Price Index increase for the first time since April, when the year-to-year rate was 2.3%. Inflation stayed above the long-range Federal Reserve target of 2% but was down from a four-decade high of 9.1% in June 2022. According to the incomplete report, gas prices were up 11% from the year before and shelter costs rose 3%. Excluding volatile costs for energy and food, the core CPI rose 2.6% from November 2024. The four-week moving average for initial unemployment claims rose for the second week in a row, the Labor Department reported. The gauge of employers' willingness to release workers was 40% below the long-term average and up 5% from the low just before the COVID-19 pandemic. Total jobless claims rose nearly 16% in the latest week to just below 2 million, up almost 2% from the year before. Friday Existing home sales rose 0.5% in November, a third consecutive increase, the National Association of Realtors reported. The annual sales rate of 4.1 million houses and condos was 1% below the year before; 2024 had the lowest sales in 30 years. An economist for the trade association said housing wealth was at an all-time high, so homeowners are in no hurry to list their properties. Low inventory has helped boost prices, rising to a median price of $409,200 in November, a 1.2% gain from the year before and the 29th consecutive increase. The University of Michigan's consumer sentiment index rose marginally in December, though it was 28.5% lower than the year before. Conditions for buying durable goods fell for the fifth month in a row as 63% of consumers surveyed foresaw a continuing rise in unemployment. Inflation expectations fell but remained higher than they were in January. Economists follow consumer sentiment as a leading indicator of consumer spending. Market Closings for the Week Nasdaq – 23286, up 91 points or 0.4% Standard & Poor's 500 – 6837, up 10 points or 0.1% Dow Jones Industrial – 48254, down 204 points or 0.4% 10-year U.S. Treasury Note – 4.15%, down 0.04 point

Advisors on This Week's Show Kyle Tetting Art Rothschild Steve Giles (with Max Hoelzl, Joel Dresang, engineered by Jason Scuglik) Week in Review (Oct. 27-31, 2025) Significant Economic Indicators & Reports Monday An indicator of demand for manufactured products, the Commerce Department's report on durable goods orders, was unavailable because of the federal government shutdown. Tuesday Housing prices continued slowing in August, according to the S&P Cotality Case-Shiller national home price index. The measure showed a 1.5% year-to-year gain in residential prices, the lowest in more than two years and below the overall inflation rate for the fourth straight month. An S&P analyst said the housing market has been trying to find a sustainable equilibrium following its post-pandemic boom. He added, "(H)omeowners are watching their real equity erode while buyers face the dual challenge of elevated prices and high borrowing costs." The Conference Board said its consumer confidence index moved sideways in October. The index dipped slightly from September with lower expectations offsetting consumers' marginally higher opinion of the present situation. The business research group said pessimism about the future continued to suggest an impending recession for the ninth month in a row. Prices and inflation remained the top concerns among survey respondents. Mentions of tariffs declined from earlier surveys but stayed elevated. Some consumers expressed dismay about the federal government shutdown. Wednesday The National Association of Realtors said its pending home sales index was unchanged in September and down 0.9% from the year before. The trade association said lower mortgage rates and increased wealth effect – from record-high stock prices and elevated home values – could not overcome apparent softening in the job market.  The pending sales index remained more than 25% below its 2001 base, which the Realtors consider a normal level of sales activity. As expected, the Federal Open Market Committee lowered short-term lending rates by one quarter of a percentage point for the second time in six weeks. The Federal Reserve Board's policy-making body said continued consideration of slowing labor markets prompted it to loosen monetary control, though it also expressed reluctance to lower rates while inflation stayed above the long-term target of 2%. The September Consumer Price Index showed broad inflation rising at a 3% annual rate, although more complete data reports have been curtailed by the federal government shutdown. Thursday The broadest measure of U.S. economic output, the quarterly report on gross domestic product, was not available from the Bureau of Economic Analysis because of the federal government shutdown. The GDP report includes the Fed's preferred measure of inflation, the personal consumption expenditure index. The Labor Department's report on initial unemployment insurance claims was not available for the fifth week in a row because of the federal government shutdown. Friday The Bureau of Economic Analysis did not release its consumer spending report for September because of the federal government shutdown. Market Closings for the Week Nasdaq – 23725, up 520 points or 2.2% Standard & Poor's 500 – 6840, up 49 points or 0.7% Dow Jones Industrial – 47563, up 356 points or 0.8% 10-year U.S. Treasury Note – 4.10%, down 0.10 point

In this episode, Kathy and Liz Ann open by discussing the implications of the recent rate cut by the Federal Reserve, focusing on the labor market and upcoming economic indicators. They explore how the rate cut may affect various economic sectors, including borrowing rates and consumer spending. They also highlight the importance of under-the-surface labor market data in predicting future Fed actions.Liz Ann Sonders, Schwab's Chief Investment Strategist, interviews Doug Ramsey, Chief Investment Officer of the Leuthold Group. They discuss the implications of the Federal Reserve's easing cycle on the economy, focusing on labor market dynamics, employment indicators, and the current state of the equity market. They analyze the recent bull market, its origins, and the potential for emerging leadership in various sectors, while also addressing the significance of the yield curve and market valuations.Finally, Kathy and Liz Ann offer their outlook for next week's economic data and indicators.On Investing is an original podcast from Charles Schwab. For more on the show, visit schwab.com/OnInvesting.If you enjoy the show, please leave a rating or review on Apple Podcasts.Important DisclosuresInvestors should consider carefully information contained in the prospectus, or if available, the summary prospectus, including investment objectives, risks, charges, and expenses. You can request a prospectus by calling 800-435-4000. Please read the prospectus carefully before investingThe information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed.Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.The comments, views, and opinions expressed in the presentation are those of the speakers and do not necessarily represent the views of Charles Schwab.All names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Supporting documentation for any claims or statistical information is available upon request.Investing involves risk, including loss of principal.Futures and futures options trading involves substantial risk and is not suitable for all investors. Please read the Risk Disclosure Statement for Futures and Options prior to trading futures products.Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance.Indexes are unmanaged, do not incur management fees, costs and expenses, and cannot be invested in directly. For more information on indexes, please see schwab.com/indexdefinitions.The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data.Tens/Twos or 10s/2s refers to the spread between the 10-Year Treasury maturity rate minus the 2-Year Treasury maturity rate. The rates are comprised of Market Matrix U.S. Generic spread rates (USYC2Y10).  This spread is a calculated Bloomberg yield spread that replicates selling the current 2-year U.S. Treasury Note and buying the current 10-year U.S. Treasury Note, then factoring the differences by 100.(0924-V45J)

  Landaas & Company newsletter  April edition now available. Advisors on This Week's Show Kyle Tetting Adam Baley Mike Hoelzl (with Max Hoelzl, Joel Dresang, engineered by Jason Scuglik) Week in Review (April 15-19, 2024) Significant Economic Indicators & Reports No major announcements Monday In a further sign of economic resilience, consumers continued spending at stores in March with retail sales advancing 0.7% from February. The Commerce Department reported that 8 of 13 major categories had sales increases in March, including a 2.7% gain for online retailers and a 2.1% rise for gas stations, where sales increased in part because of higher prices. Sales at car dealers declined 1.1%. Furniture stores, appliance centers and sporting goods retailers also suffered setbacks. Sales at bars and restaurants increased by 0.4%, suggesting consumers remain comfortable spending. Adjusted for inflation, retail sales rose 0.3%, a second consecutive gain. Tuesday The U.S. housing market continued to suggest weakness in March as the pace for both housing starts and building permits stayed below pre-pandemic levels. Figures from the Commerce Department showed new construction about 25% below its pace in mid-2022. The pace of housing permits, an indicator of commitments to future homebuilding, also continued to hover lower following interest rate boosts by the Federal Reserve two years ago. But both permits and starts remained at levels on par with 2007, before the Great Recession. Meantime, data showed that the rate of houses under construction stayed near record highs, with completions around their fastest pace in 17 years. Increased automotive manufacturing in March helped boost U.S. industrial production by 0.4% in March. The Federal Reserve reported that industrial output rose at the same pace as in February and was unchanged from the year before. Through the first quarter of 2024, industrial production declined at a 1.8% annual rate led by a 12% drop in mining output. The same report showed the capacity utilization rate, a measure of potential inflation pressure, rising for the second month in a row, though it stayed below the long-time average. Wednesday No major announcements Thursday The four-week moving average for initial unemployment claims was unchanged for the second week in a row, staying 41% under the long-term average, dating to 1967. The measure of employers' reluctance to let workers go continued to indicate a tight labor market. According to Labor Department data, total jobless claims fell to 1.9 million in the latest week, down less than 1% from the week before, though up nearly 7% from the year before. The annual pace of existing home sales sank 4.3% in March, its first setback in four months, dropping 3.7% behind its year-ago rate. The National Association of Realtors said sales have been stagnating because of high interest rates and ongoing low supplies of inventory. The trade group said the median sales price rose 4.8% from the March 2023 to $393,500, the ninth consecutive increase. The Conference Board reported that its index of leading economic indicators declined 0.3% in March, after a slight gain in February. The business research group said the six-month movement of its index contracted at a slower pace. It suggested the U.S. economic outlook was “fragile – even if not recessionary.” Among the challenges ahead, according to the group, are rising consumer debt, higher interest rates and stubbornly elevated inflation rates. Friday No major announcements MARKET CLOSINGS FOR THE WEEK Nasdaq – 15282, down 893 points or 5.5% Standard & Poor's 500 – 4967, down 156 points or 3.0% Dow Jones Industrial – 37986, up 3 points or 0.0% 10-year U.S. Treasury Note – 4.62%, up 0.12 point Not a Landaas & Company client yet? Click here to learn more. More information and insight from Money Talk Money Talk Videos Follow us on Twitter.

  Landaas & Company newsletter  April edition now available. Advisors on This Week's Show Kyle Tetting Art Rothschild Mike Hoelzl (with Max Hoelzl, Joel Dresang, engineered by Jason Scuglik) Week in Review (April 8-12, 2024) Significant Economic Indicators & Reports Monday No major announcements Tuesday No major announcements Wednesday Overall inflation continued to stall in March, staying above the Federal Reserve's long-term target. The Consumer Price Index, the broadest measure of inflation, rose to a 3.5% year-to-year rate, bouncing higher for the second month in a row after falling from as high as 9.1% in June 2022. The Bureau of Labor Statistics said increased costs for shelter, gasoline and car insurance contributed to faster inflation, keeping it above the Fed's long-range target of 2%. A core measure of CPI, which excluded volatile food and energy prices, stayed at a year-to-year rate of 3.8% for the second month in a row. Thursday Inflation on the wholesale level rose in March with the Producer Price Index gaining 0.2%, only one-third of the advance in February. The Bureau of Labor Statistics said the index rose 2.1% from March 2023, the fastest 12-month pace in 11 months. Costs for services increased while goods prices declined overall, led by gasoline. The core Producer Price Index – excluding volatile prices for energy, food and trade services – rose 0.2% from February and was up 2.8% from the year before, on par with the yearly rate since May. The four-week moving average for initial unemployment claims dipped for the second time in three weeks, reaching 42% below the long-term average since 1967. The measure of employers' reluctance to let workers go was 3% above its level just before the COVID-19 pandemic, according to data from the Labor Department. Altogether, just under 2 million Americans claimed jobless benefits in the most recent week, down 3.6% from the week before but up 5% from the same time last year. Friday A preliminary April reading of consumer sentiment shows Americans have registered little change since January. The survey-based index from the University of Michigan has been midway between an all-time low in mid-2022 and the optimism level just before the pandemic four years ago. Surveys showed a slight increase in expectations for inflation, which the university said might suggest some frustration with an apparent stalling in the slowdown of inflation. MARKET CLOSINGS FOR THE WEEK Nasdaq – 16175, down 73 points or 0.5% Standard & Poor's 500 – 5123, down 81 points or 1.6% Dow Jones Industrial – 37984, down 920 points or 2.4% 10-year U.S. Treasury Note – 4.50%, up 0.12 point Not a Landaas & Company client yet? Click here to learn more. More information and insight from Money Talk Money Talk Videos Follow us on Twitter. Landaas newsletter subscribers return to the newsletter via e-mail

  Landaas & Company newsletter  March edition now available. Advisors on This Week's Show Kyle Tetting Art Rothschild Kendall Bauer (with Jason Scuglik, Joel Dresang) Week in Review (March 18-22, 2024) Significant Economic Indicators & Reports Monday No major announcements Tuesday The pace of housing starts rose 11% in February, and it was up 6% from the year before, the Commerce Department and Department of Housing and Urban Development reported. Permits for new housing also increased at a seasonally adjusted annual rate, especially for single-family residences. Amid longstanding low inventories of housing units, the rate at which new houses are being completed is finally reaching levels not seen since before the Great Recession. Also, housing under construction has been hovering at record paces, according to data going back to 1970. Wednesday No major announcements Thursday The four-week moving average for initial unemployment claims rose for the second week in a row but stayed 42% below the 57-year average, according to new data from the Labor Department. The moving average, an indicator of employers' reluctance to let workers go, continued to suggest strength in the labor market. Total claims rose 0.2% from the week before to 1.8 million, which was up 8% from the same time in 2023. The annual rate of existing home sales rose 9.5% to nearly 4.4 million in February, which was still 3% slower than the year before. The National Association of Realtors said demand for housing continued to be strong while inventory improved nearly 6% from January. Still, supply remained historically record low, with 2.9 months' worth of houses available at February's sales rate. The median sales price was $384,500, up almost 6% from the year before, the eight increase in a row. The Conference Board's index of leading economic indicators rose 0.1% in February, its first gain in two years, led by increases in factory hours, stock prices and residential construction. The business research group said its index declined 2.6% since August, an improvement from a 3.8% decline in the previous six months. The group also warned that higher interest rates and rising consumer debt posed threats to continued personal spending, which drives about two-thirds of U.S. economic growth. Friday No major announcements MARKET CLOSINGS FOR THE WEEK Nasdaq – 16429, up 456 points or 2.9% Standard & Poor's 500 – 5234, up 117 points or 2.3% Dow Jones Industrial – 39475, up 761 points or 2.0% 10-year U.S. Treasury Note – 4.22%, down 0.09 point Not a Landaas & Company client yet? Click here to learn more. More information and insight from Money Talk Money Talk Videos Follow us on Twitter. Landaas newsletter subscribers return to the newsletter via e-mail

  Landaas & Company newsletter  March edition now available. Advisors on This Week's Show Kyle Tetting Dave Sandstrom Kendall Bauer (with Max Hoelzl, Joel Dresang, engineered by Jason Scuglik) Week in Review (March 11-15, 2024) SIGNIFICANT ECONOMIC INDICATORS & REPORTS Monday No major announcements Tuesday The broadest measure of inflation nudged up narrowly in February, reinforcing sentiment that it's too soon for the Federal Reserve to start cutting interest rates. The Bureau of Labor Statistics reported the Consumer Price Index rose 3.2% from February 2023, unadjusted for inflation. That was up from 3.1% in January but down from a four-decade high of 9.1% in 2022. Higher prices for gasoline and shelter accounted for 60% of the CPI's one-month gain of 0.4%, which was the highest since September. The core CPI, excluding volatile food and energy costs, was up 3.8% from the year before, the smallest 12-month rise in almost three years. Wednesday No major announcements Thursday Wholesale inflation ticked up in February, led by higher energy prices. The Bureau of Labor Statistics said its Producer Price Index rose 0.6% from January, the largest advance since August. Excluding volatile prices for food, energy and trade services, the core PPI rose 0.4%, down from a 0.6% increase in January. Year to year, the headline PPI rose 1.6% in February, the highest rate in five months. The Commerce Department said retail sales gained 0.6% in February, only the second gain in five months, but another sign that consumers are keeping the economy growing. Car dealers, gas stations, home-and-garden centers and appliance stores led the list of retailers reviving sales from a 1.1% decline in January. The sales represent most of the consumer spending that accounts for about two-thirds of U.S. economic activity. Adjusted for inflation, retail sales advanced in February for the first time in five months. The four-week moving average for initial unemployment claims fell for the fourth week in a row, dipping 43% below the 57-year average. Data from the Labor Department continued to suggest a tight job market in which employers are reluctant to let workers go. Some 2.1 million individuals were receiving jobless benefits in the latest week, up 1% from the week before and up 7.2% from the year before. Friday U.S. industrial production rose 0.1% in February after weather-related declines January. The gain was the first in three months, according to the Federal Reserve. Compared to the year before, output was down 0.2%. Manufacturing production advanced 0.8% from January and was down 0.7% from February 2023. Capacity utilization, considered a leading indicator of inflation, remained at 78.3% in February, below the long-term average for the 10th month in a row. The University of Michigan said consumer sentiment essentially was on hold pending the November election. The preliminary measure of expectations in March was little changed from February, putting it midway between historic lows during the inflation peaks of 2022 and the level of sentiment just before the COVID-19 pandemic. Economists rely on sentiment as an indicator of consumers' appetite for spending. MARKET CLOSINGS FOR THE WEEK Nasdaq – 15973, down 112 points or 0.7% Standard & Poor's 500 – 5117, down 7 points or 0.1% Dow Jones Industrial – 38715, down 8 points or 0.0% 10-year U.S. Treasury Note – 4.30%, up 0.22 point Not a Landaas & Company client yet? Click here to learn more. More information and insight from Money Talk Money Talk Videos Follow us on Twitter. Landaas newsletter subscribers return to the newsletter via e-mail

  Landaas & Company newsletter  February edition now available. Advisors on This Week's Show Kyle Tetting Tom Pappenfus (with Max Hoelzl, Joel Dresang, engineered by Jason Scuglik) Week in Review (Feb. 19-23, 2024) Significant Economic Indicators & Reports Monday Markets closed for Presidents Day Tuesday The Conference Board is no longer forecasting a recession for 2024 but says it expects next to no growth in the U.S. economy in the middle half of the year. The business research group said its index of leading economic indicators declined by 0.4% in January, double the dip in December. But the latest six-month read of the index fell 3%, compared to a decline of 4.1% in the prior six months. Also – for the first time in two years – more than half of the index's components were positive for the six-month period. Wednesday No major releases Thursday The four-week moving average for initial unemployment insurance claims declined for the first time in four weeks, remaining 41% below the 57-year average, according to new Labor Department data. Nearly 2.2 million Americans claimed jobless benefits in the latest week, up 0.5% from the week before and up 9.6% from the same time in 2023. The National Association of Realtors heralded a rise in existing home sales in January as the beginning of a comeback for housing. The annual rate of unit sales rose 3.1% from the pace in December with a 2% increase in inventory and the seventh consecutive year-to-year gain in prices. Home sales ended 2023 at the lowest level in about three decades, but mortgage rates have declined since peaking in October. The supply of houses for sale remained below their level in January 2023. The median sale price was the highest ever for January: $379,100. Friday No major releases MARKET CLOSINGS FOR THE WEEK Nasdaq – 15997, up 221 points or 1.4% Standard & Poor's 500 – 5089, up 83 points or 1.7% Dow Jones Industrial – 39132, up 504 points or 1.3% 10-year U.S. Treasury Note – 4.26%, down 0.04 point Not a Landaas & Company client yet? Click here to learn more. More information and insight from Money Talk Money Talk Videos Follow us on Twitter. Landaas newsletter subscribers return to the newsletter via e-mail

  Landaas & Company newsletter  February edition now available. Advisors on This Week's Show Kyle Tetting Steve Giles Tom Pappenfus (with Max Hoelzl and Joel Dresang) Week in Review (Feb. 5-9, 2024) Significant Economic Indicators & Reports Monday The largest segment of the U.S. economy showed continued expansion in January with the Institute for Supply Management's service index reaching its highest level since September. Based on surveys with supply managers, the index signaled growth for the 13th month in a row. Among the highlights were faster growth in new orders, employment and supplier deliveries. The trade group said supply managers reported steady business and were optimistic because of potential interest rate cuts from the Federal Reserve. Executives also expressed caution about inflation and geopolitical conflicts. Tuesday No major releases Wednesday The U.S. trade deficit narrowed in 2023 from a record high in 2022, as the value of imports declined. The Bureau of Economic Analysis reported that the 2023 trade gap was $773.4 billion, down 18% from the year before. Exports grew 1.2% in the year while imports fell 3.6%. Trade deficits detract from economic output, as measured by the gross domestic product. For the year, Mexico ranked first in imports to the U.S., displacing China for the first time in 20 years. The Federal Reserve reported a slower increase in consumer credit card debt outstanding in December. So-called revolving credit debt rose at a 1% annual rate in December, the 31st gain in 32 months - and the slightest advance in that period. For the fourth quarter, credit card debt rose at a 6.8% annual rate, down from 10.1% in the third quarter. Economists look at credit card debt as a sign of consumer confidence. Consumer spending accounts for about two-thirds of U.S. economic activity. Thursday The four-week moving average for initial unemployment claims rose for the second week in a row, although it still reflected a historically tight hiring market. Data from the Labor Department showed the latest four-week average was 42% below the all-time average, dating back to 1967. As an early measure of layoff trends, new jobless claims have suggested employers' reluctance to let workers. Total claims rose 6% from the week before to 2.2 million, which was 14% higher than the year before. Friday No major releases MARKET CLOSINGS FOR THE WEEK Nasdaq – 15991, up 362 points or 2.3% Standard & Poor's 500 – 5027, up 68 points or 1.4% Dow Jones Industrial – 38671, up 17 points or 0.0% 10-year U.S. Treasury Note – 4.19%, up 0.15 point Not a Landaas & Company client yet? Click here to learn more. More information and insight from Money Talk Money Talk Videos Follow us on Twitter. Landaas newsletter subscribers return to the newsletter via e-mail

  Landaas & Company newsletter  February edition now available. Advisors on This Week's Show Kyle Tetting Adam Baley Mike Hoelzl (with Max Hoelzl, engineered by Jason Scuglik) MARKET CLOSINGS FOR THE WEEK Nasdaq – 15629, up 174 points or 1.1% Standard & Poor's 500 – 4959, up 68 points or 1.4% Dow Jones Industrial – 38655, up 545 points or 1.4% 10-year U.S. Treasury Note – 4.03%, down 0.13 point Not a Landaas & Company client yet? Click here to learn more. More information and insight from Money Talk Money Talk Videos Follow us on Twitter. Landaas newsletter subscribers return to the newsletter via e-mail

  Landaas & Company newsletter  February edition now available. Advisors on This Week's Show Kyle Tetting Steve Giles Kendall Bauer (with Max Hoelzl, Joel Dresang, engineered by Jason Scuglik) Week in Review (Jan. 22-26) Significant Economic Indicators & Reports Monday The Conference Board said its index of leading economic indicators declined slightly in December, continuing to suggest a pending recession. The business research group said its gauge fell 0.1% from November, following a 0.5% drop from October. Over the last half of 2023, the index fell 2.9%, improving from a 4.3% decline in the first six months of the year. Of 10 leading indicators, six were positive, the organization said, but they were offset by weaker manufacturing, high interest rates and low consumer confidence. The Conference Board forecast a recession for the second and third quarters of 2024, with a revival toward the end of the year. Tuesday No major releases Wednesday No major releases Thursday The Commerce Department said durable goods orders were unchanged in December, following a 5.5% gain in November. Compared to the year before, long-lasting factory orders were up 4.4%, with aircraft accounting for the bulk of the increase. Excluding transportation equipment, orders rose just 0.8% from the end of 2022. A proxy for business investment gained 0.3% from November and was up 1.7% from December 2022. The U.S. economy rose at an annual pace of 3.3% in the fourth quarter, down from 4.9% in the previous three months. The Bureau of Economic Analysis said the deceleration in gross domestic product was led by consumer spending, which slowed to a 2.8% annual rate from 3.1% in the third quarter. Also slowing: Inventories, federal spending and residential spending. Compared to the fourth quarter of 2022, GDP rose 3.1%, the strongest showing in seven quarters. The four-week moving average for initial unemployment claims fell to its lowest level since January. The average was 45% below the all-time average dating back to 1967. The Labor Department said 1.8 million Americans claimed jobless benefits in the latest week, up 0.8% from the week before and 11% higher than the same time in 2022. The Commerce Department reported an 8% gain in the annual rate of new home sales in December. Sales were up 4% from the year before and just below where they were heading into the COVID-19 pandemic. The median sales price dropped 14% from the year before to $413,200. In 2023, 53% of new homes were sold at $400,000 or more, compared to 63% in 2022. Friday The Bureau of Economic Analysis said consumer spending jumped 0.7% in December, more than double the 0.3% increase in personal income. Adjusted for inflation, spending rose 0.5% from November. Consumer spending accounts for about two-thirds of gross domestic product, so the gain was another sign of resilience amid the highest interest rates in a couple of decades. The personal consumption expenditures index, which the Federal Reserve Board follows for inflation, rose 2.6% from December 2022, the slightest incline since February 2021, which was the last time the rate was below the Fed's 2% long-term target. The rate reached a 40-year high exceeding 7% in June 2022. An early indicator of home sales increased in December. The National Association of Realtors' index of pending home sales rose 8.3% from November and was up 1.3% from December 2022. The trade group said more home buyers have begun turning to the relatively larger stock of new homes for sale amid chronic shortages of existing houses. The group said an easing in mortgage rates since peaking in November also has encouraged potential home buyers. The Realtors forecast a 13% gain in annual home sales in 2024. MARKET CLOSINGS FOR THE WEEK Nasdaq – 15455, up 144 points or 0.9% Standard & Poor's 500 – 4891, up 51 points or 1.1% Dow Jones Industrial – 38109, up 246 points or 0.6% 10-year U.S. Treasury Note – 4.16%,

  Landaas & Company newsletter  January edition now available. Advisors on This Week's Show Kyle Tetting Art Rothschild (with Joel Dresang, engineered by Jason Scuglik) Week in Review (Jan. 8-12, 2024) Significant Economic Indicators & Reports Monday In another sign of strength in consumer spending, credit card debt rose again in November, at the fastest pace in a year and a half. The Federal Reserve Board reported that revolving consumer debt outstanding increased at an annual pace of nearly 18%, the steepest pace since May 2022. Consumer spending accounts for about two-thirds of U.S. economic output, as measured by the gross domestic product. Credit card debt partly reflects the confidence of consumers to keep spending. Tuesday The U.S. trade deficit narrowed by 2% in November to $63.2 billion, a result of both exports and imports shrinking. Exports declined by 1.9% from October, led by decreased sales of industrial supplies and automotive products. Imports also fell 1.9%, led by drops in U.S. purchases from abroad of cellphones and pharmaceutical preparations. Through the first 11 months of 2023, the deficit – which detracts from gross domestic product – narrowed more than 18%; exports gained 1%, and imports declined 3.6%. Wednesday No major announcements Thursday The four-week moving average for initial unemployment claims fell for the fourth time in five weeks. An indicator of employers' reluctance to let workers go, the average reached 207,000 claims, which was 43% behind the average since 1967 and down from a record high of 5.3 million in April 2020. The Labor Department said 1.9 million Americans claimed jobless benefits in the week ended Dec. 30. That was up 3% from the previous week and more than 11% ahead of the same time in 2022. Shelter costs accounted for more than half of the quicker pace of inflation in December. The Bureau of Labor Statistics reported the Consumer Price Index, the broadest measure of inflation, rose 0.3% from November. The CPI advanced 3.4% from December 2022. That's the highest inflation rate since September but down from a 40-year high of 9.1% in June 2022. The Federal Reserve Board's long-range inflation target is 2%. Excluding volatile prices for food and energy items, the core CPI rose by 0.3% for the fourth time in five months. Year to year, the core measure was up 3.9%, the lowest rate since May 2021. Friday The Bureau of Labor Statistics reported that wholesale inflation retreated 0.1% in December, the third consecutive decline. The Producer Price Index fell because of a drop in goods prices, chiefly diesel fuel. The index was up 1% from the year before, compared to a 6.4% increase at the same time in 2022 and a record 11.7% in March 2022. Excluding volatile prices for food, energy and trade services, the so-called core PPI rose 0.2% from November and was up 2.5% from December 2022. MARKET CLOSINGS FOR THE WEEK Nasdaq – 14973, up 449 points or 3.1% Standard & Poor's 500 – 4784, up 87 points or 1.8% Dow Jones Industrial – 37593, up 127 points or 0.3% 10-year U.S. Treasury Note – 3.95%, down 0.09 point Not a Landaas & Company client yet? Click here to learn more. More information and insight from Money Talk Money Talk Videos Follow us on Twitter. Landaas newsletter subscribers return to the newsletter via e-mail

  Landaas & Company newsletter  December edition now available. Advisors on This Week's Show Kyle Tetting Adam Baley Kendall Bauer (with Max Hoelzl, Joel Dresang, engineered by Jason Scuglik) Week in Review (Dec. 25-29, 2023) Significant Economic Indicators & Reports Monday No major releases Tuesday Housing inflation continued to climb in October. The S&P CoreLogic Case-Shiller national index rose 4.8% from its year-earlier measure. It was the fifth consecutive acceleration and the ninth in a row, based on seasonally adjusted monthly gains. A representative for the index described broad-based price growth nationwide reaching its fastest pace since 2022, when the Federal Reserve began a string of interest rate increases. With rates easing in recent months, analysts expect home prices to keep escalating. Wednesday No major releases Thursday The four-week moving average for initial unemployment claims fell for the third week in a row and the fifth time in six weeks, suggesting ongoing strength in the labor market. The measure of employers' willingness to let workers go was 42% below its 56-year average, according to Labor Department data. Total claims reached more than 1.8 million, down less than 1% from the week before but up 17% from where it stood at the same time in 2022. The National Association of Realtors said softer mortgage rates spurred more interest in home buying in November, but its pending home sales index remained unchanged from the month before. The index was down more than 5% from the year before. The trade group said lower mortgage rates and the prospect of the Fed reducing interest rates in 2024 should boost home sales in the new year. Friday No major releases MARKET CLOSINGS FOR THE WEEK Nasdaq – 15011, up 19 points or 0.1% Standard & Poor's 500 – 4770, up 15 points or 0.3% Dow Jones Industrial – 37689, up 303 points or 0.8% 10-year U.S. Treasury Note – 3.87%, down 0.4 point Not a Landaas & Company client yet? Click here to learn more. More information and insight from Money Talk Money Talk Videos Follow us on Twitter. Landaas newsletter subscribers return to the newsletter via e-mail

  Landaas & Company newsletter  December edition now available. Advisors on This Week's Show Steve Giles Dave Sandstrom (with Max Hoelzl, Joel Dresang, engineered by Jason Scuglik) Week in Review (Dec. 11-15, 2023) Significant Economic Indicators & Reports Monday No major announcements Tuesday The broadest measure of inflation continued to ease in November, declining on a year-to-year rate to 3.1%. The Bureau of Labor Statistics reported that the Consumer Price Index was still above the long-range Federal Reserve target of 2%, but it was down from a four-decade high of 9.1% in June 2022. For the month, the CPI added 0.1% from October as shelter costs edged up and gas prices declined. Excluding volatile costs for energy and food, the core 12-month inflation rate was 4%, tied with October as the lowest since August 2021. Wednesday Inflation on the wholesale level flattened in November, as the Producer Price Index remained unchanged following a 0.4% decline in October. Compared to the year before, the PPI rose 0.9%, the lowest since June, which was the slimmest advance since the early months of the COVID-19 pandemic. Excluding food, energy and trade, the core PPI rose 0.1% for the month and was up 2.5% from Nov. 2022. The policy-making committee of the Federal Reserve Board held steady on short-term interest rates, deciding not to change the cost of short-term borrowing for its third meeting since July. Since March 2022, the Fed had raised rates 10 times to their highest level in 22 years in an effort to control four-decade high inflation. The Federal Open Market Committee projected this week that it would lower borrowing costs by three-quarters of a percentage point by the end of 2024, Thursday The Commerce Department reported a 0.3% increase in retail sales in November, more than reversing a decline of 0.3% in October. The rise was broadly distributed: Eight of 13 major categories had higher sales in November, excluding gas stations, where lower prices cut into revenue. Consumer spending notably rose at bars and restaurants, often an indicator of consumer confidence. About two-thirds of U.S. economic activity is driven by consumer spending. Compared to November 2022, only two retail categories had lower sales, besides gas stations: Furniture stores and home-and-garden centers. The four-week moving average for initial unemployment claims fell for the third time in four weeks, dipping to 42% below its 56-year average. Although data can be marginally affected by seasonal downtime, including around Thanksgiving, the Labor Department reported total claims rising 18% from the week before to nearly 1.9 million. That's also up about 18% from where it stood the year before but still suggested employers' reluctance to let workers go. Friday The return of striking autoworkers helped boost industrial production in November, according to the Federal Reserve. Total industrial output rose 0.2% in November, though it lagged 0.4% from the year before. Manufacturing production was up 0.3% from October but was down 0.2% excluding automotive. Capacity utilization rate, an early indicator of inflation pressure, rose marginally to 78.8% in November, staying below the 50-year average of 79.7%. MARKET CLOSINGS FOR THE WEEK Nasdaq – 14814, up 410 points or 2.8% Standard & Poor's 500 – 4719, up 115 points or 2.5% Dow Jones Industrial – 37309, up 1061 points or 2.9% 10-year U.S. Treasury Note – 3.93%, down 0.32 point Not a Landaas & Company client yet? Click here to learn more. More information and insight from Money Talk Money Talk Videos Follow us on Twitter. Landaas newsletter subscribers return to the newsletter via e-mail

  Landaas & Company newsletter  November edition now available. Advisors on This Week's Show KYLE TETTING ART ROTHSCHILD STEVE GILES (with Max Hoelzl and Joel Dresang engineered by Jason Scuglik) In a special Thanksgiving Money Talk Podcast, Kyle Tetting, Art Rothschild and Steve Giles discuss wise ways investors can plan to charitably share their wealth. Among the topics: Gifting appreciated securities Qualified charitable distributions from retirement accounts Donor-advised funds Learn more IRS Publication 526, Charitable Contributions Charitable Contributions, IRS Tax Topic An IRS FAQ on qualified charitable distributions from IRAs ONLINE GUIDES FOR SCRUTINIZING CHARITIES: BBB Wise Giving Alliance Charity Navigator Charity Watch --- Week in Review (Nov. 20-24, 2023) SIGNIFICANT ECONOMIC INDICATORS & REPORTS Monday The U.S. economy continued to show signs of weakening in October, according to the Conference Board's index of leading economic indicators. The business research group reported a 0.8% drop in the index from September and a 3.3% drop since April. That compared with a 4.5% decline in the prior six months. Manufacturing orders, consumer expectations, stock prices and lending conditions all pulled the index down in October, the Conference Board said. The group repeated its forecast of a recession in the near term and predicted the economy would expand by just 0.8% in 2024. Tuesday The National Association of Realtors said high mortgage rates and low inventories led to another decline in existing home sales in October. The annual sales rate dropped 4.1% from September to just below 3.8 million houses and condos. That was nearly 15% below the pace in October 2022. Although the number of houses for sale nudged up from September, it was down almost 6% from the year before, which helped raise the median sales price to a record $391,800. That was up 3% from October 2022, the fourth consecutive gain in prices. Wednesday The Commerce Department said durable goods orders fell 5.4% in October, the third setback in four months. Commercial aircraft led the decline. Excluding the volatile transportation sector, orders were unchanged from September and up 0.7% from the year before. Including transportation, demand for long-lasting manufactured items rose 4% from October 2022. Core capital goods orders, a proxy for business investments, dropped marginally from September and were up less than 2% from the year before. The four-week moving average for initial unemployment insurance claims declined for the first time in three weeks, staying 40% below the 56-year average. The measure continued to indicate employers' reluctance to let workers go. Total claims dropped to 1.6 million, down nearly 2% from the week before but up 28% from the same time last year. Considered a precursor to spending, consumer sentiment, rose for the fourth month in a row in November as Americans lowered expectations for business conditions and fretted that inflation would quicken again after slowing recently. The University of Michigan said the sentiment reading reached 61.3 in November, down 4% from October but up 8% from November 2022. Though they lowered their outlook overall, consumers registered optimism for their own personal finances. They also raised their long-term expectations for inflation to 3.2%, the highest since 2011. Thursday Markets and government offices closed for Thanksgiving. Friday No major releases  MARKET CLOSINGS FOR THE WEEK Nasdaq – 14251, up 126 points or 0.9% Standard & Poor's 500 – 4559, up 45 points or 1% Dow Jones Industrial – 35390, up 443 points or 1.3% 10-year U.S. Treasury Note – 4.48%, up 0.04 point Not a Landaas & Company client yet? Click here to learn more. More information and insight from Money Talk Money Talk Videos Follow us on Twitter. Landaas newsletter subscribers return to the newsletter via e-mail

  Landaas & Company newsletter  November edition now available. Advisors on This Week's Show Kyle Tetting Art Rothschild Steve Giles (with Max Hoelzl and Joel Dresang engineered by Jason Scuglik) Week in Review (Nov. 13-17, 2023) Significant Economic Indicators & Reports Monday No major announcements Tuesday Inflation continued to slow in October, thanks in part to lower gas prices. The Bureau of Labor Statistics reported that the Consumer Price Index, the broadest measure of inflation, was unchanged from September and up 3.2% from the year before. That was the smallest 12-month increase in the index since March 2021. Although it continued to exceed the Federal Reserve long-range target of 2%, it was down from a four-decade high of more than 9% last summer. The core CPI, which strips out volatile food and energy prices, rose 4% from October 2022, the lowest gain in more than two years. Wednesday Inflation on the wholesale level declined in October, according to the Producer Price Index. The gauge fell by 0.5% from September, led by lower prices in goods, chiefly energy products, the Bureau of Labor Statistics reported. The one-year wholesale inflation rate was 1.3%, down from nearly 12% in the spring of 2022. Excluding volatile costs for food, energy and trade services, the so-called core Producer Price Index rose 2.9% from October 2022, down from almost 9% in the summer of 2022. Retail sales receded in October for the first time in seven months. Sales fell 0.1% over all with seven of 13 categories reporting lower sales, including car dealers, gas stations, furniture stores and home-and-garden centers. Sales aren't adjusted for price changes, so lower prices at gas stations factored in. Bars and restaurants added sales for the seventh month in a row. Since October 2022, total retail sales rose 2.5% while bars and restaurants increased by 8.6%. Adjusted for inflation, retail sales were down 0.2% from September. Thursday The four-week moving average for initial unemployment claims rose for the fourth week in a row to its highest point since September, according to the Labor Department. The measure was still 40% below the 56-year average, suggesting the relative tightness of the labor market. Total claims rose 0.2% in the latest week to more than 1.6 million, which was 27% higher than the year before. The Federal Reserve reported a slight decline in industrial production in October, the first setback in fourth months. Strikes at automotive plants resulted in a 10% drop in that sector's output from September, the Fed reported, accounting for much of a dip in manufacturing production. As a result, total industrial production declined 0.1% for the month. If not for the auto makers, total production would have gained 0.1%, according to the Fed. Industries' capacity utilization rate, an early indicator of inflation, edged down to its lowest level since June, remaining below the 50-year average for the 12th month in a row. Friday More than a year and a half after the Fed began raising interest rates, housing construction data continued to show a pause in October. The annual pace of building permits and housing starts rose slightly, remaining near pre-pandemic levels but down from accelerations in 2021 and 2022. A report from the Commerce Department showed new authorizations and new construction for single-family houses outgaining  multi-family projects. The rate of housing units under construction slowed marginally in October but stayed near the highest on record, based on data going back to 1970.  MARKET CLOSINGS FOR THE WEEK Nasdaq – 14125, up 327 points or 2.4% Standard & Poor's 500 – 4514, up 99 points or 2.2% Dow Jones Industrial – 34947, up 664 points or 1.9% 10-year U.S. Treasury Note – 4.44%, down 0.19 point Not a Landaas & Company client yet? Click here to learn more. More information and insight from Money Talk Money Talk Videos Follow us on Twitter.

  Landaas & Company newsletter  November edition now available. Advisors on This Week's Show Kyle Tetting Tom Pappenfus Kendall Bauer (with Max Hoelzl and Joel Dresang, engineered by Blake Miller) Week in Review (Nov. 6-10, 2023) Significant Economic Indicators & Reports Monday No major releases Tuesday Imports rose more than exports in September, widening the U.S. trade gap by 4.9% to $61.5 billion. Cellphones and cars led the 2.7% increase in imports, the Bureau of Economic Analysis reported. Exports rose 2.2%, led by petroleum products and soybeans. Through the first three quarters of 2023, the trade deficit widened 20% from the same time in 2022 to $147.4 billion. In that year, exports grew 1% while imports rose 4.2%. Trade deficits detract from gross domestic product, the broadest measure of overall economic growth. The Federal Reserve reported that revolving consumer credit rose at an annual rate of 2.9% in September. The increase in credit card debt suggests consumer spending – which drives about two-thirds of the U.S. economy – remained resilient. It also hints at a possible slowdown, which the Fed has been trying to achieve by raising interest rates the past year and a half. The pace of credit card debt slowed from a 13.7% annual rate in August. The quarterly pace has been decelerating since the end of 2022. Credit card borrowing took two years to recover from its pre-pandemic peak. In contrast, it took a decade to recover from the financial collapse and the Great Recession. Wednesday No major releases Thursday The four-week moving average for initial unemployment claims rose for the third week in a row to its highest level since mid-September. Data from the Labor Department showed the four-week average still down 42% from its 56-year average, reflecting continued reluctance by employers to let workers leave amid a tight hiring market. Nearly 1.6 million Americans were claiming jobless benefits in the latest week, up 0.1% from the week before and up 27% from the same time in 2022. Friday The University of Michigan said consumer sentiment is declining for the fourth month in a row. Despite higher opinions of their personal finances, consumers indicated in the university's preliminary November report that high interest rates and the wars in Gaza and Ukraine soured their outlook on the economy. For the top third of stockholders, sentiment improved. The university said expectations for inflation generally rose from October, especially for gas prices.  MARKET CLOSINGS FOR THE WEEK Nasdaq – 13798, up 320 points or 2.4% Standard & Poor's 500 – 4415, up 57 points or 1.3% Dow Jones Industrial – 34284, up 222 points or 0.7% 10-year U.S. Treasury Note – 4.63%, up 0.07 point Not a Landaas & Company client yet? Click here to learn more. More information and insight from Money Talk Money Talk Videos Follow us on Twitter. Landaas newsletter subscribers return to the newsletter via e-mail

  Landaas & Company newsletter  October edition now available. Advisors on This Week's Show Kyle Tetting Art Rothschild Tom Pappenfus (with Max Hoelzl, Joel Dresang, engineered by Jason Scuglik) Week in Review (Oct. 16-20, 2023) Significant Economic Indicators & Reports Monday No major announcements Tuesday In a further sign of economic resilience, retail sales advanced 0.7% in September. The Commerce Department reported that 10 of 13 major categories had sales increases in September, including a 1.1% gain for online retailers and a 1% bump for car dealers. Appliance stores, home-and-garden centers and clothing stores experienced declines. Sales at bars and restaurants rose by 0.9%, an indication that consumers remain comfortable spending. Consumer spending drives nearly 70% of U.S. economic activity. The Federal Reserve reported that industrial production rose 0.3% in September and capacity utilization advanced to its long-term average for the first time in five months. The capacity rate, a measure of potential inflation pressure, suggested that factories, mines and utilities were regaining balance after months of underusing their operations. The capacity rate for factories stayed below its long-run average for the fifth month in a row. The Fed said total industrial output was up just 0.1% from September 2022 and had grown at an annual rate of 2.5% in the third quarter. Manufacturing production rose 0.4% in September and was down 0.8% from the year before. Wednesday The U.S. housing market continued to suggest weakness in September as the pace for both housing starts and building permits stayed below pre-pandemic levels. Figures from the Commerce Department showed new construction, including multi-family units, about 25% below its pace in mid-2022. Starts for single-family houses have been below their pre-COVID level since May 2022. The pace of housing permits, an indicator of commitments to future homebuilding, also has hovered lower since the Fed began raising interest rates in 2022. Single-family housing permits, however, rose in September for the eighth month in a row, though still below the pre-pandemic level. And though new construction has been slowing, data showed that the rate of houses under construction stayed near record level, despite 14 consecutive declines for single-family units. Thursday The four-week moving average for initial unemployment claims fell for the seventh week in a row, dipping to its lowest point since the beginning of February. The measure of employers' reluctance to let workers go was 44% behind the long-term average, dating to 1967. According to Labor Department data, total jobless claims fell below 1.6 million in the latest week, down nearly 2% from the week before, though up 29% from the year before. The pace of existing home sales sank 2% in September, descending to its lowest mark in 13 years. The National Association of Realtors cited limited inventory and low affordability fueled by rising mortgage rates. Houses sold at an annual rate of 3.96 million, down 15.4% from September 2022, the Realtors reported. Inventory rose 2.7% from August to 1.1 million houses, the lowest for September since 1999. The trade group said the median sales price in September was $394,300, up 2.8% from the year before. The Conference Board said its index of leading economic indicators declined 0.7% in September, shrinking for the 18th month in a row. Of 10 components in the index, nine were either negative or flat. The six-month pace of contraction slowed from the preceding six months. Still, the business research group forecast a shallow recession for the first half of 2024. Friday No major announcements  MARKET CLOSINGS FOR THE WEEK Nasdaq – 12984, down 423 points or 3.2% Standard & Poor's 500 – 4224, down 104 points or 2.4% Dow Jones Industrial – 33126, down 544 points or 1.6% 10-year U.S. Treasury Note – 4.92%, up 0.30 point

  Landaas & Company newsletter  October edition now available. Advisors on This Week's Show Kyle Tetting Steve Giles Kendall Bauer (with Max Hoelzl, and Joel Dresang, engineered by Jason Scuglik) Week in Review (October 9-13, 2023) Significant Economic Indicators & Reports Monday No major announcements Tuesday No major announcements Wednesday Prices on the wholesale level rose more than analysts expected in September, fueled by increases in energy costs. The Bureau of Labor Statistics said its Producer Price Index rose 0.5% from August. Demand for goods climbed 0.9%. Since September 2022, the PPI rose 2.2%, the fastest rate since April, but down from an 11.7% one-year pace in March 2022. Excluding volatile prices for food, energy and trade services, the core PPI advanced 0.2% for the month and was up 2.8% from the year before, which was on par with recent months and down from 7.1% in March 2022. Thursday Shelter costs accounted for more than half of the 0.4% increase in inflation in September. The Bureau of Labor Statistics said gasoline prices also added to its Consumer Price Index. The gain was down from 0.6% in August. In the latest 12 months, the broadest measure of inflation rose at a 3.7% pace, tied with August for the slowest in 30 months and down from 9.1% in June 2022. The core CPI, which strips out volatile costs for food and energy, rose 0.3% from August and 4.1% from September 2022. The year-to-year rate was the lowest in two years and down from 6.6% a year ago. Based on CPI data, the Social Security Administration announced a 3.2% adjustment to benefits in 2024. That was a drop from 8.7% in 2023, the biggest raise for Social Security recipients since 1981. The average cost-of-living adjustment since Social Security began adjusting benefits to inflation in 1975: 3.8%. Social Security said the average recipient can expect an added $50 in their benefit checks, beginning in January. The four-week moving average for initial unemployment claims sank for the sixth week in a row, reaching 44% below the all-time average and the lowest level since January. The Labor Department said fewer than 1.6 million Americans claimed jobless benefits in the most recent week, down 0.2% from the week before but up 28% from the same time last year. The historically low claims numbers illustrate the reluctance of employers to let workers go in a tight labor market. Friday A preliminary reading of consumer sentiment in October showed lower confidence because of higher expectations for inflation. The survey-based index from the University of Michigan dropped 7.5% from where it stood at the end of September. It was 5.2% ahead of where it was in October 2022. One-year expectations for inflation rose to their highest level since May, staying well above the range before the pandemic. Long-term expectations also edged up. According to the university, expectations for rising prices tend to stifle consumer spending, which drives nearly 70% of U.S. economic activity.  MARKET CLOSINGS FOR THE WEEK Nasdaq – 13407, down 24 points or 0.2% Standard & Poor's 500 – 4328, up 19 points or 0.4% Dow Jones Industrial – 33671, up 263 points or 0.8% 10-year U.S. Treasury Note – 4.63%, down 0.16 point Not a Landaas & Company client yet? Click here to learn more. More information and insight from Money Talk Money Talk Videos Follow us on Twitter. Landaas newsletter subscribers return to the newsletter via e-mail

Saied, Haroon and Chris wanted to find a way to give back to the THS community and "thank you" all for your support. We know that at times we can't and don't always answer questions in the "DMs" as well as we would like to. So, we posted a Q&A opportunity on our respective Instagram accounts. We were overwhelmed with the wonderful questions asked and we can't thank each and every single one of you enough. This show is literally funded by your small gestures. Honest five star reviews and your engagement make long nights of editing, mixing and mastering audio for streaming and managing social media accounts worth it. The Higher Standard podcast is what is today because you have enabled us to keep going. Since we got so many questions, we will be trying to do more Q&As and make actually attempt to do a live show on YouTube in the not too distant future. Until then, we hope you enjoy the episode. Resources:Everything You Need to Know About the Bond Market (The Motley Fool)10-Year Treasury Bond Yield: What It IS and Why It Matters (Investopedia)How the 10-year U.S. Treasury Note impacts mortgage rates (MCT Trading)Fed's interest rate history: The federal funds rate from 1981 to the present (Bankrate)Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content.

  Landaas & Company newsletter  September edition now available. Advisors on This Week's Show Kyle Tetting Adam Baley Tom Pappenfus with Max Hoelzl, Joel Dresang, engineered by Jason Scuglik Week in Review (Sept. 18-22, 2023) Significant Economic Indicators & Reports Monday No major announcements Tuesday Trends for housing starts and building permits moved in opposite directions, according to the Commerce Department. The annual pace of starts declined 11% from July, sinking to the slowest pace since June 2020. Meanwhile, permits – an indication of future housing construction – rose nearly 7% from July, though they were almost 3% below the pace in August 2022. After pent-up demand and historically low mortgage rates rallied home building to its briskest levels since 2006, activity has tapered off in the last year amid higher interest rates. The pace of single-family houses under construction slowed for the 15th month in a row. Wednesday No major announcements Thursday Labor market conditions remained robust as the four-week moving average for initial unemployment claims declined for the third week in a row. The measure was 41% below the all-time average and the lowest since February, according to data from the Labor Department, a sign of employers' continued reluctance to let workers go. Nearly 1.7 million Americans were receiving jobless benefits in the latest week, down from 5% the week before but up 30% from the year before. The annual rate of existing home sales fell 0.7% to 4 million in August, the third slowdown in three months, down 15% from the year-ago pace. The National Association of Realtors said an ongoing lack of houses for sale continued to raise prices. Inventory dropped to a 3.3-month supply, about half of what the trade association said was needed to stabilize pricing. The median sales price hit $407,100 in August, up nearly 4% from the year before. The Conference Board's index of leading economic indicators fell in August for the 17th month in a row. The index declined 0.4% from July because of weaker measures for factory orders, consumer expectations, interest rates and credit conditions. Nearly a year and a half of falling indicators prompted the business research group to forecast a “challenging growth period and possible recession,” with projections of 2.2% economic growth in 2023 and 0.8% in 2024. Friday No major announcements MARKET CLOSINGS FOR THE WEEK Nasdaq – 13212, down 497 points or 3.6% Standard & Poor's 500 – 4320, down 130 points or 2.9% Dow Jones Industrial – 33964, down 654 points or 1.9% 10-year U.S. Treasury Note – 4.44%, up 0.11 point Not a Landaas & Company client yet? Click here to learn more. More information and insight from Money Talk Money Talk Videos Follow us on Twitter. Landaas newsletter subscribers return to the newsletter via e-mail

  Landaas & Company newsletter  September edition now available. Advisors on This Week's Show Kyle Tetting Steve Giles (with Max Hoelzl, Joel Dresang, engineered by Jason Scuglik) Week in Review (Sept. 11-15, 2023) Significant Economic Indicators & Reports Monday No major announcements Tuesday No major announcements Wednesday The broadest measure of inflation delivered mixed signals from August. For the month, the Consumer Price Index rose 0.6%, the most in 14 months, according to the Bureau of Labor Statistics. A 10.6% jump in the price of gasoline accounted for more than half the increase. Also contributing: Shelter costs, which rose for the 40th month in a row. The core CPI, which excludes volatile prices for food and energy items, rose 0.3% from July. Year to year, the CPI was up 3.7%, after reaching 3% in June. The core index fell to 4.3% from the year before, the lowest in nearly two years. Thursday Higher gas prices also boosted inflation on the wholesale level in August. The Bureau of Labor Statistics said its Producer Price Index rose 0.7%, the biggest gain in 14 months. Food prices fell for the fourth time in five months. Excluding food, energy and trade services, the core PPI rose 0.3% for the second month in a row. Since August 2022, the PPI rose 1.6%, which was the most since April. The core PPI was up 3% from the year before, compared to 2.9% in July. The four-week moving average for initial unemployment claims fell for the second week in a row and the seventh time in 11 weeks, reaching the lowest level since February.  According to Labor Department data, the average moved to 224,500 new applications, 39% below the average since 1967. Just under 18 million Americans claimed jobless benefits in the latest week, down more than 2% from the week before and up about 28% from the year before. The Commerce Department reported a 0.7% rise in retail sales in August, fueled by higher gas prices. Excluding gas stations, sales rose 0.2% for the month, compared with 0.5% in July. Sales rose in 10 of 13 categories. Sellers of furniture, sporting goods and miscellaneous merchandise experienced declines. Adjusted for inflation, retail sales fell 0.1% in August, the first decline since March. Friday U.S. industrial output rose 0.4% in August, the second gain in a row, though down from a 0.7% increase in July. A 5% drop in production from the auto industry held back the measure, the Federal Reserve reported. Output from factories rose 0.1%, but excluding motor vehicles and parts, manufacturing increased 0.6%. Since August 2022, overall industrial production rose 0.2%, with manufacturing output declining 0.6%. Meanwhile, capacity utilization rose marginally, reaching the 50-year average operating rate. Consumer sentiment stayed relatively steady in early September, according to the University of Michigan. A preliminary index reading of 67.7 was down from 69.5 at the end of August but about 35% above its record low in June 2022. Sentiment remained well below the historical average of 86. The university said consumer outlooks on economic conditions have improved modestly, but threats to shut down the government has the potential to send sentiment sliding. MARKET CLOSINGS FOR THE WEEK Nasdaq – 13708, down 53 points or 0.4% Standard & Poor's 500 – 4450, down 7 points or 0.2% Dow Jones Industrial – 34619, up 42 points or 0.1% 10-year U.S. Treasury Note – 4.32%, up 0.06 point Not a Landaas & Company client yet? Click here to learn more. More information and insight from Money Talk Money Talk Videos Follow us on Twitter. Landaas newsletter subscribers return to the newsletter via e-mail

  Landaas & Company newsletter  September edition now available. Advisors on This Week's Show Kyle Tetting Art Rothschild Mike Hoelzl (with Joel Dresang, engineered by Jason Scuglik) Week in Review (Sept. 4-8, 2023) Significant Economic Indicators & Reports Monday Markets and government agencies closed for Labor Day Tuesday The Commerce Department said factory orders declined in July for the first time in five months. The measure of demand for manufactured goods slipped 2.1% after gaining 2.3% in June. Through the first seven months of 2023, orders were up a mere 0.5% from the year before. Excluding requests for transportation equipment, which has an outsized effect on the indicator, orders rose 0.8% from June but were down 1.6% from July 2022. Orders for core capital goods, a proxy for business investments, rose 0.1% for the month and were up 2.3% from the year before. Wednesday The U.S. trade gap widened by 2% in July to $65 billion. Exports rose 1.6% from June, led by automotive vehicles. Imports increased 1.7%, led by cell phones, semiconductors and industrial supplies. The Bureau of Economic Analysis reported that through July, the deficit declined 21% from the year before with a 1.6% gain in exports and a 4.3% drop in imports. The U.S. service sector expanded in August for the eighth month in a row and at the fastest pace since February. The Institute for Supply Management said its survey of purchasing managers showed general optimism toward business and economic conditions with signs of accelerated growth. The trade group said the index suggested the U.S. economy was growing at an annual rate of 1.6%. Thursday The four-week moving average of initial unemployment claims fell for the first time in four weeks, dropping to 38% below the 56-year average, a sign that employers continue to be reluctant about letting workers go. The Labor Department reported that total claims stayed steady from the week before at 1.7 million, which was up 28% from the year before. Worker productivity rose at an annual rate of 3.5% in the second quarter, according to the Bureau of Labor Statistics. That was down from a previous estimate of 3.7%. The annual rate of output rose 1.9% in the quarter while the hours worked sank 1.5% - the    first quarterly decline in three years. Since the second quarter of 2022, productivity rose 1.3%, the first such increase since the end of 2021. That 1.3% matched the annual rate of productivity growth since the end of 2019, which was slightly below the pace during the previous economic cycle, which started in 2007. Friday No significant reports MARKET CLOSINGS FOR THE WEEK Nasdaq – 13762, down 270 points or 1.9% Standard & Poor's 500 – 4457, down 58 points or 1.3% Dow Jones Industrial – 34577, down 261 points or 0.7% 10-year U.S. Treasury Note – 4.26%, up 0.08 point Not a Landaas & Company client yet? Click here to learn more. More information and insight from Money Talk Money Talk Videos Follow us on Twitter. Landaas newsletter subscribers return to the newsletter via e-mail

  Landaas & Company newsletter  August edition now available. Advisors on This Week's Show Kyle Tetting Tom Pappenfus Mike Hoelzl (with Max Hoelzl, engineered by Blake Miller) Week in Review (Aug. 22-26, 2022) Significant Economic Indicators & Reports Monday No significant releases Tuesday The real estate market continued to struggle in July as the annual rate of existing home sales sank for the fourth time in five months. The National Association of Realtors said sales were on an annual pace of 4.07 million, down 2.2% from June and 16.6% below the rate in July 2022. The trade association blamed low inventory and high interest rates for choppy sales. Conventional mortgage rates recently reached the highest in more than 20 years. The median sales price was $406,700, up about 2% from the year before. Wednesday Though a fraction of the overall market, the annual rate of new home sales rose 4.4% in July, the Commerce Department reported. The pace reached 714,000 houses, which was up 31% from July 2022. The rate was slightly ahead of where it was just before the COVID-19 pandemic. Fewer houses sold for $500,000 or more in July (34% of all sales vs. 46% the year before). The median sales price for a new house fell nearly 9% from July 2022 to $436,700. Thursday The Commerce Department said new orders for durable goods fell in July for the first time in five months. A drop in commitments for commercial aircraft led a 5.2% decline in total orders. Excluding the volatile transportation sector, orders rose 0.5% from June. Overall demand for long-lasting manufactured items was up 4.4% from July 2022 but ahead just 0.5% without transportation. Core capital goods orders, a proxy for business investments, rose 0.1% from June and were 2.3% above of the year before. The four-week moving average for initial unemployment insurance claims rose for the third week in a row. At 236,750 claims, the average was 35% below the 56-year average, suggesting continued reluctance by employers to let go of workers. The Labor Department reported that 1.8 million Americans claimed jobless benefits in the latest week, up 0.2% from the week before and up from 1.4 million the year before. Friday The University of Michigan said its consumer sentiment index declined insignificantly in August, as Americans sensed moderating progress on inflation. The survey-based measure was 39% above its all-time low, reached in June 2022. Though still subdued historically, the index hit its second-highest mark in 21 months. Survey respondents suggested a tentative outlook toward the near-term economy and its effects on their personal finances. Economists consider sentiment a bellwether for consumer spending, which drives two-thirds of the U.S. gross domestic product. MARKET CLOSINGS FOR THE WEEK Nasdaq – 13591, up 300 points or 2.3% Standard & Poor's 500 – 4406, up 36 points or 0.8% Dow Jones Industrial – 34347, down 154 points or 0.4% 10-year U.S. Treasury Note – 5.32%, up 0.07 point Not a Landaas & Company client yet? Click here to learn more. More information and insight from Money Talk Money Talk Videos Follow us on Twitter. Landaas newsletter subscribers return to the newsletter via e-mail

  Landaas & Company newsletter  August edition now available. Advisors on This Week's Show Kyle Tetting Adam Baley Dave Sandstrom (with Max Hoelzl, Joel Dresang, engineered by Jason Scuglik) Week in Review (Aug. 7-11, 2023) Significant Economic Indicators & Reports Monday In a sign of weakening consumer spending, outstanding credit card debt slowed in June. The Federal Reserve reported a 0.6% decline in the annual rate of revolving consumer debt outstanding, the first decrease since April 2022. The pace of total consumer debt rose 4.3% from May, including a 6% jump in non-revolving debt – which is mostly car financing and student loans. With nearly 70% of U.S. economic growth relying on consumer spending, the drop in credit card debt suggests a drop-off in commitment to buying on credit. Credit card debt in June was still up about 30% from where it plunged after the COVID-19 pandemic. Tuesday The U.S. trade deficit narrowed 4.1% in June to $65.5 billion, the Bureau of Economic Analysis reported. Exports declined 0.1% from May, led by industrial supplies and consumer goods. Imports fell 1%, despite higher U.S. demand for overseas automobiles, gems, artwork and non-monetary gold. Through the first half of 2023, the balance between what Americans buy from overseas and what they sell abroad narrowed 22% from the same time last year. Exports fell 2.5% in that period; imports fell 4%. Wednesday No major releases Thursday Higher costs for shelter accounted for 90% of the rise in inflation in July. The Bureau of Labor Statistics said the Consumer Price Index, the broadest measure of inflation, rose 0.2% from June. Prices for car insurance and education also rose, while the cost of air fare, used vehicles and medical care declined. Compared to the year before, the CPI rose to 3.2% from a 3% inflation rate in June. That was the first acceleration in the rate since it crested above 9% in June 2022. The core CPI, which excludes volatile food and energy costs, rose less than 0.2% from June, tied with June for the smallest gain since February 2021. The core CPI rose 4.7% from the year before, the lowest since October 2021. The four-week moving average for initial unemployment claims rose for the first time in six weeks but stayed below the all-time average by 37%, according to data released by the Labor Department. The total number of claims fell 0.4% from the week before to 1.8 million, up from fewer than 1.5 million the year before. Friday Inflation on the wholesale level rose 0.3% in July, led by increased prices for services. The Bureau of Labor Statistics said its Producer Price Index rose 0.8% from July 2022, up from 0.7% in June but down from 11.7% in March 2022. Excluding volatile prices for energy, food and trade services, the core PPI rose 0.2% for the month – the biggest increase since a 0.3% gain in February. Since July 2022, the core PPI rose 2.7%, the lowest 12-month move since February 2021. Consumer opinions toward the economy and their personal finances stayed above year-ago lows but below historical averages in August, according to the University of Michigan consumer sentiment index. The longstanding index hit 71.2 in a preliminary August reading, up about 42% from a record low last summer but down from the long-time average of 86. Since July, consumers felt slightly better about current conditions and slightly worse about future expectations. Survey respondents said they anticipate inflation to be about 3.3% in August 2024 and 2.9% longer term. MARKET CLOSINGS FOR THE WEEK Nasdaq – 13645, down 264 points or 1.9% Standard & Poor's 500 – 4464, down 14 points or 0.3% Dow Jones Industrial – 35281, up 216 points or 0.6% 10-year U.S. Treasury Note – 4.17%, up 0.11 point Not a Landaas & Company client yet? Click here to learn more. More information and insight from Money Talk Money Talk Videos Follow us on Twitter. Landaas newsletter subscribers return to the newsletter ...

  Landaas & Company newsletter  July edition now available. Advisors on This Week's Show Kyle Tetting Steve Giles Tom Pappenfus (with Max Hoelzl and Joel Dresang, engineered by Jason Scuglik) Week in Review (July 17-21, 2023) Significant economic indicators & reports Monday No major releases Tuesday A key measure of consumer spending showed signs of slowing in June. Retail sales rose 0.2% from May, but only seven of 13 categories gained, with lower sales reported among gas stations, grocery stores, home-and-garden centers and others. Noting that retail sales represent about two-thirds of consumer spending, which is the prime driver of U.S. economic growth, the Commerce Department reported that sales were up 1.5% from June 2022. Adjusted for inflation, sales were unchanged from May and down nearly 2% from the year before. The Federal Reserve said industrial production weakened in June, declining for the second month in a row. Output from manufacturing, mining and utilities was down 0.4% from June 2022. In particular, the production of long-lasting consumer goods dropped off in June but still posted a positive second quarter. Industrial capacity use declined to 78.9%, the second month in a row below its 50-year average of 79.7%. A high usage rate can signal rising inflation. Wednesday The U.S. housing market continued to weaken in June following a year of higher mortgage rates. The annual pace for both housing starts and building permits declined from May and lagged the June 2022 level as well. The Commerce Department report showed housing under construction remaining near an all-time peak, although the pace of construction for single-family houses kept trending lower. Thursday The pace of existing home sales continued to slow in June, dipping 3% from May and remaining 19% behind the rate in June 2022. The National Association of Realtors said through the first half of the year, sales were down 23% from the same time last year. An ongoing concern: Inventory. The supply of houses for sale in June remained about the same as in May but was down 14% from the year before and only about half the level the market could absorb, the trade group said. The median price of a house sold in June was $410,200, slightly below the record high set in June 2022. The four-week moving average for initial unemployment claims fell for the third week in a row, reflecting employers' reluctance to let workers go in an historically tight labor market. Average claims dropped 35% below the all-time average dating back to 1967, according to the Labor Department. In the latest week, total claims dropped 0.9% to 1.7 million, up 29% from the year before but down from 12.6 million at the same time in 2021. The Conference Board said its index of leading economic indicators continued to point to a U.S. recession. The index from the business research group fell 0.7% in June, its 15th consecutive deceleration, which is the longest streak since the months leading up to the Great Recession. The group said the index fell 4.2% in the first half of 2023, compared to a decline of 3.8% in the second half of 2022. The Conference Board forecast a recession from the current quarter to the first quarter of 2024. It cited inflation, interest rates, tighter lending and reduced government spending as forces to further slow the economy. Friday No major announcements MARKET CLOSINGS FOR THE WEEK Nasdaq – 14033, down 81 points or 0.6% Standard & Poor's 500 – 4536, up 31 points or 0.7% Dow Jones Industrial – 34228, up 719 points or 2.1% 10-year U.S. Treasury Note – 3.91%, up 0.09 point Not a Landaas & Company client yet? Click here to learn more. More information and insight from Money Talk Money Talk Videos Follow us on Twitter. Landaas newsletter subscribers return to the newsletter via e-mail

  Landaas & Company newsletter  July edition now available. Advisors on This Week's Show Kyle Tetting Tom Pappenfus (with Max Hoelzl and Joel Dresang, engineered by Jason Scuglik) Week in Review (July 10-14, 2023) Significant economic indicators & reports Monday U.S. consumer spending showed resilience in May with credit card debt increasing for the 25th month in a row. The Federal Reserve Board reported revolving consumer credit debt outstanding grew by an annual rate of 8% in May. Non-revolving debt, including student loans and vehicle financing, declined at an annual rate of 0.4%. Compared to May 2022, credit card debt rose by 15% to more than $1.25 trillion, which was more than 12% above its level just before the COVID pandemic. Tuesday No major releases Wednesday The broadest measure of inflation rose at a 3% annual rate in June, less than one-third of where it peaked a year ago. The Bureau of Labor Statistics reported that the Consumer Price Index continued slowing after hitting a 41-year high of 9.1% in June 2022. At 3%, the CPI was at its lowest point since March 2021. The year-to-year increase is still higher than the 2% long-term target of the Federal Reserve. Seasonally adjusted, the index rose 0.2% from May, with increased shelter costs contributing more than 70% of the gain. Excluding volatile energy and food costs, the core index rose 4.8% from June 2022, the lowest since October 2021. Thursday Wholesale inflation also continued to moderate in June. The Producer Price Index rose 0.1% from the year before, having decelerated each month since hitting 11.2% in June 2022, the Bureau of Labor Statistics reported. On a monthly basis, the index budged 0.1% from May only through greater demand for services. Demand for goods was unchanged. Excluding volatile costs for food, energy and trade services, inflation on the wholesale level rose 0.1% from May and 2.6% from June 2022. The four-week moving average for initial unemployment claims fell for the second week in a row to its lowest level in six weeks. The average hit 246,750 in the latest week, down 33% from the 56-year average. Total claims rose 3.8% in the latest week to nearly 1.8 million, which was up from 1.3 million the same time last year. Friday A stable labor market and slowing inflation have boosted consumer sentiment to its highest level since September 2021, according to a preliminary report by the University of Michigan. Seen as a precursor to consumer spending, sentiment has recovered from record lows a year ago and is midway back to where it left off when the COVID-19 pandemic hit. University researchers said that except for low-income workers, consumers surveyed showed broad improvements in how they view the economy and their personal finances. MARKET CLOSINGS FOR THE WEEK Nasdaq – 14114, up 453 points or 3.3% Standard & Poor's 500 – 4506, up 107 points or 2.4% Dow Jones Industrial – 34511, up 776 points or 2.3% 10-year U.S. Treasury Note – 3.82%, down 0.23 point Not a Landaas & Company client yet? Click here to learn more. More information and insight from Money Talk Money Talk Videos Follow us on Twitter. Landaas newsletter subscribers return to the newsletter via e-mail

  Landaas & Company newsletter  June edition now available. Advisors on this week's podcast Kyle Tetting Adam Baley Dave Sandstrom (with Max Hoelzl, Joel Dresang, engineered by Jason Scuglik) Week in Review (June 19-23, 2023) Significant Indicators & Reports Monday Markets closed in observance of Juneteenth Day Tuesday The annual pace of housing starts and building permits suggested the construction industry was picking up in May. A joint report from the departments of Commerce and Housing and Urban Development showed new construction rising nearly 22% from April's pace while permits rose 5%. Permits were at their fastest pace since September, despite being 13% below their level the year before. Housing starts, led by multi-family units, were the highest since April 2022, which marked the fastest pace since 2006. The number of houses under construction in May hovered near record heights, based on data going back to 1970. Wednesday No major reports Thursday The four-week moving average for initial unemployment claims continued to rise, up for the third week in a row and the fourth time in five weeks. The Labor Department reported that the average level of new claims was at its highest point since November 2021. Though still 30% below the 56-year average, the measure of employer reluctance to part with workers was 23% above its low just before the COVID-19 pandemic. Nearly 1.7 million Americans claimed unemployment insurance benefits in the latest week, up 3% from the week before and up 29% from the same time last year. The National Association of Realtors said steady mortgage rates helped existing home sales grow marginally in May. The seasonally adjusted annual rate of 4.3 million houses sold was up 0.2% from April's pace but down 20% from the year before, when conventional mortgage rates were nearly a full percentage point lower. The trade association pointed to low inventory as an ongoing hindrance to sales, noting that the number of houses for sale were about half the level in 2019. Weakened demand resulted in the median sales price sinking 3% from May 2022 to $396,100. The Conference Board's index of leading economic indicators fell 0.7% in May, for the 14th consecutive decline. The business research group cited a negative yield spread and drops in consumer expectations, factory orders and credit conditions for the monthly setback. Since November, the index was down 4.3%, compared to a 3.8% decline over the prior six months. The Conference Board forecast marginal growth for the economy in the second quarter followed by recession toward the end of 2023 and into the beginning of 2024. Friday No major reports MARKET CLOSINGS FOR THE WEEK Nasdaq – 13493, down 197 points or 1.4% Standard & Poor's 500 – 4348, down 61 points or 1.4% Dow Jones Industrial – 33729, down 571 points or 1.7% 10-year U.S. Treasury Note – 3.74%, down 0.03 point Not a Landaas & Company client yet? Click here to learn more. More information and insight from Money Talk Money Talk Videos Follow us on Twitter. Landaas newsletter subscribers return to the newsletter via e-mail

  Landaas & Company newsletter  June edition now available. Advisors on This Week's Show Kyle Tetting Art Rothschild Tom Pappenfus (with Max Hoelzl, Joel Dresang, engineered by Jason Scuglik) Week in Review (June 12-16, 2023) Significant Economic Indicators & Reports Monday No major reports Tuesday The broadest measure of inflation slowed to the lowest rate in more than two years, though it was still twice as high as the long-range Federal Reserve target. The Consumer Price Index rose 4% in May, down from 4.9% in April and a decades-high 9.1% in June, according to the Bureau of Labor Statistics. Inflation inched up 0.1% from April as a 5.6% drop in gas prices offset higher costs for shelter, used vehicles and food away from home. Excluding volatile prices for food and energy, the so-called core CPI rose 0.4% for May, trending on par with April and March. Since May 2022, the core rate increased 5.3%, the lowest in 18 months. Wednesday Inflation on the wholesale level also continued to retreat in May. The Bureau of Labor Statistics said the Producer Price Index declined 0.3% from April, falling for the third time in four months, led by a 14% drop in gas prices. Excluding volatile prices for food, energy and trade services, the core PPI was unchanged from April. Compared to 12 months prior, wholesale inflation rose 1.1% in May, the lowest since the end of 2020 and down from more than 11% last June. Core PPI was up 2.8% from May 2022, when the rate had reached 6.8%. Thursday Amid signs of a slowing economy, consumers continued to fuel further growth in May, sending retail sales up 0.3%. Lower prices at gas stations held back the overall gain in retail sales, which was led by car dealerships and home-and-garden centers. Adjusted for inflation, retail sales rose 0.2% from April, the first measurable increase since December. Compared to May 2022, total retail sales rose by 1.6%, including an 8% gain at bars and restaurants. The four-week moving average for initial unemployment claims rose for the third time in four weeks to its highest level since November 2021. Still, the indicator of employers' willingness to let workers go remained 33% below its 56-year average. According to the Labor Department, total claims for jobless benefits reached more than 1.6 million, down slightly from the week before. The year before, claims were below 1.3 million; at the same point in 2021, they had reached 14.8 million. U.S. industrial output declined 0.2% in May, the first dip in five months. The Federal Reserve reported broad modest setbacks in production except in the manufacturing of defense equipment and aerospace gear. Manufacturing output rose slightly for the fourth time in five months. Capacity utilization — often an early indicator of inflation —fell to 79.6%, just below its level in April and nearly the same as the average 7.97% rate since 1972. Friday With inflation cooling and the debt ceiling lifted, consumer sentiment is on the rise, according to the University of Michigan. A preliminary June reading of the university's longstanding consumer surveys showed sentiment still historically weak but up 28% from the all-time low set a year ago. While expectations for inflation are receding, consumers still anticipate a more difficult economy in the next year. Economists see consumers' sentiment as a predictor of their spending, which generates two-thirds of U.S. economic growth. MARKET CLOSINGS FOR THE WEEK Nasdaq – 13690, up 430 points or 3.2% Standard & Poor's 500 – 4410, up 111 points or 2.6% Dow Jones Industrial – 34301, up 424 points or 1.3% 10-year U.S. Treasury Note – 3.77%, up 0.02 point Not a Landaas & Company client yet? Click here to learn more. More information and insight from Money Talk Money Talk Videos Follow us on Twitter. Landaas newsletter subscribers return to the newsletter via e-mail

  Landaas & Company newsletter  June edition now available. Advisors on This Week's Show Kyle Tetting Steve Giles Tom Pappenfus (with Max Hoelzl, Joel Dresang, engineered by Jason Scuglik) Week in Review (June 5-9, 2023) Significant Economic Indicators & Reports Monday Though at a slower pace, the services industry expanded in May for the fifth month in a row and the 35th time in 36 months, according to the Institute for Supply Management. The ISM services index, based on surveys of purchasing managers, suggested stable but slowing conditions amid sluggish demand and weaker hiring. Slower growth resulted in further reduction in the supply chain challenges that clogged the industry in the early recovery from the pandemic. The ISM reported the lowest back logs and smoothest suppliers' deliveries since 2009. The Commerce Department said factory orders rose in April for the fourth time in five months, though largely because of military orders. Overall, orders gained 0.6% from March, but excluding defense contracts, they declined 0.4%. The military accounted for about half of the 1.4% year-to-year growth in factory orders. In comparison, core capital goods orders, a proxy for business investments, rose 1.3% from March and were up 2.7% from April 2022. Tuesday No major releases Wednesday The U.S. trade deficit widened 23% in April to $74.6 billion from $60.6 billion in March. The Bureau of Economic Analysis reported that U.S. exports shrank 3.6% from March, led by goods, especially oil and industrial materials. Imports grew 1.5%, led by automotive products and cell phones. Through the first four months of 2023, the trade gap grew 24% from the year before. In that time, exports grew 6%, and imports declined 2%. Because trade deficits count against gross domestic product, the widened gap is another sign of slowed economic growth. The Federal Reserve Board reported that outstanding revolving consumer credit debt rose again in April, though at a slightly slower rate. While total debt rose at a 5.7% annual rate from March, revolving credit, which mostly includes credit cards, increased at a 13.1% pace. That was down from 14.6% in March, marking the fourth deceleration in five months. Still, consumers increased credit card debt for the 24th month in a row. An indicator of consumer confidence, the level of credit card debt was up $146 billion or 13% from when the pandemic started. The measure took 26 months to recover from its collapse after the pandemic. In contrast, it took more than 10 years to recover from the Great Recession. Thursday Though still historically low, the four-week moving average of initial unemployment claims rose for the second time in three weeks. The measure of employers' reluctance to let workers go reached its highest level in five weeks but was 35% below the 56-year average, according to Labor Department data. Some 1.6 million Americans claimed jobless benefits in the latest week, down slightly from the week before but up 27% from the year before. Friday No major releases MARKET CLOSINGS FOR THE WEEK Nasdaq – 13259, up 18 points or 0.1% Standard & Poor's 500 – 4299, up 16 points or 0.4% Dow Jones Industrial – 33877, up 114 points or 0.3% 10-year U.S. Treasury Note – 3.75%, up0.05 point Not a Landaas & Company client yet? Click here to learn more. More information and insight from Money Talk Money Talk Videos Follow us on Twitter. Landaas newsletter subscribers return to the newsletter via e-mail

  Landaas & Company newsletter  June edition now available. Advisors on This Week's Show Kyle Tetting Dave Sandstrom Adam Baley (with Max Hoelzl, Joel Dresang, engineered by Jason Scuglik) Week in Review (May 22-26, 2023) Significant Economic Indicators & Reports Monday No major reports Tuesday The annual sales rate of new houses increased un April for the third month in a row and was up nearly 12% from the year before. The pace was 2% below where it was at the onset of the COVID-19 pandemic and down 33% from its recent peak in late 2020. The Commerce Department said the median price fell 8% from April 2022 to just under $421,000. Wednesday No major reports Thursday The four-week moving average for initial unemployment insurance claims was unchanged with just one increase in the last six weeks, according to new data from the Labor Department. An indication of employer reluctance to let workers go, the moving average was down 37% from its long-time average going back to 1967. Some 1.6 million Americans received jobless benefits in the latest week, down 2.8% from the week before but up 24% from the year before. The U.S. economy grew slightly faster than initially estimated in the first quarter, rising at an annual rate of 1.3%. At first, the Bureau of Economic Analysis figured gross domestic product grew at a 1.1% annual pace, but consumer spending, exports, government spending and commercial investments increased more than estimated. Offsets occurred in part through declines in inventories and decreased residential spending – for the eighth consecutive quarter. The inflation-adjusted level of GDP was up 1.6% from the first quarter of 2022 and was 6.8% above the pre-pandemic peak. The Federal Reserve Board's preferred inflation indicator showed a 4.2% increase from the year before, unchanged from previous estimates. The National Association of Realtors said its pending home sales index was unchanged in April but down more than 20% from April 2022 and down about 21% from what the trade group considers normal. The association blamed limited inventory and affordability challenges for a lull in commitments from homebuyers. Having more houses for sale, the Realtors said, would spur sales. Friday The Bureau of Economic Analysis said consumer spending rose 0.8% in April, the fourth gain in a row and the highest since January. Personal income meanwhile rose 0.4%, sending the personal saving rate down to 4.1% of disposable income, the first dip in seven months. In the same report, the Federal Reserve's preferred gauge of inflation rose 4.4% from April 2022, up from 4.2% in March. That's down from a four-decade high of 7% last June but more than double the Fed's long-term target of 2% inflation. A precursor to spending, consumer sentiment, declined further in May, erasing half the gains made since hitting an all-time low last June. The University of Michigan said descending sentiment mirrored how consumers reacted to the partisan debt ceiling standoff in 2011. Surveys showed consumers steady on inflation expectations and personal financial outlooks but worried that a recession would inflict lasting pain. The Commerce Department said military aircraft boosted durable goods orders 1.1% in April. Excluding the volatile transportation sector, orders slipped 0.2%; excluding military equipment, orders declined 0.6%. Since April, total orders rose 2.6% but were up just 0.3% excluding transportation and up 1.1% excluding defense orders. A proxy for business investments rose 1.4% from March and was up 2.7% from April 2022. MARKET CLOSINGS FOR THE WEEK Nasdaq – 12976, up 318 points or 2.5% Standard & Poor's 500 – 4205, up 13 points or 0.3% Dow Jones Industrial – 33093, down 333 points or 1.0% 10-year U.S. Treasury Note – 3.81%, up 0.17% Not a Landaas & Company client yet? Click here to learn more. More information and insight from Money Talk Money Talk Videos Follow us on Twitter.

  Landaas & Company newsletter  May edition now available. Advisors on This Week's Show Kyle Tetting Mike Hoelzl Kendall Bauer (with Max Hoelzl and Joel Dresang engineered by Kevin Lofy) Week in Review (May 15-19, 2023) Significant Economic Indicators & Reports Monday No major announcements Tuesday Consumers returned to car dealerships and home improvement centers and kept going to bars and restaurants in April, as retail sales rose for the first time in three months. The Commerce Department reported a 0.4% increase from March as revenue rose in seven of 13 categories. Spending at retailers advanced 1.6% from April 2022, with higher sales in six categories, including online and at restaurants and bars. Corrected for inflation, sales inched up 0.1% from March and were down 3.2% from April 2022, the fifth year-to-year decline in six months. The Federal Reserve said its industrial production index rose 0.5% in April after two months of moving sideways. A 1% surge in output boosted the index amid a minimal rise in the mining sector and a decline in utilities production resulting from mild weather. Auto making led the lift in manufacturing, which was up for the third time in four months. Total capacity utilization rate rose to 79.7%, the highest since November and on par with its average since 1972. Manufacturing capacity was near its long-term average, and mining capacity remained above normal. Meanwhile, utilities continued to be using less capacity than they have historically. Wednesday Construction of new houses quickened slightly while plans for more stepped back in April, according to a Commerce Department report on building permits and housing starts. The figures showed a 2% rise in the annual pace of starts compared to March at the same time permits fell nearly 2%. Relative to April 2022, both indicators were down more than 20%, coinciding with steep interest rate increases. Both starts and permits stayed below the pace heading into the COVID pandemic. The number of houses under construction remained near record highs, especially for multi-family housing. Thursday The four-week moving average for initial unemployment claims fell for the first time in three weeks after hitting its highest level in 18 months. The average remained above the low point heading into the pandemic but was 34% below the 56-year average. Total claims fell 2% from the week before, just under 1.4 million applications, which was 23% higher than the year before, according to Labor Department data. The Conference Board said its leading economic indicators shrank 0.6% in April, the 13th consecutive decline, signaling recession. The business research group noted that weakness rose from a decline of 1.2% in March, but the six-month drop of 4.4% exceeded the fall during the prior six months. Based on its index, the Conference Board forecast a mild recession for the U.S. economy beginning midyear. A combination of strong job market, vacillating mortgage rates and limited supply is causing existing home sales to bounce around, resulting in a 3.4% decline in April, according to the National Association of Realtors. The annual sales rate fell to below 4.3 million houses, down 23.2% from April 2022. The trade group said inventories rose only slightly and were just 2.9 months' supply at the current sales pace. The median price fell to $388,800, down 1.7% from the year before. It was the second straight year-to-year price drop after nearly 11 years of consecutive gains. Friday No major announcements MARKET CLOSINGS FOR THE WEEK Nasdaq – 12658, up 373 points or 3% Standard & Poor's 500 – 4192, up 68 points or 1.6% Dow Jones Industrial – 33426, up 126 points or 0.4% 10-year U.S. Treasury Note – 3.69%, up 0.23% Not a Landaas & Company client yet? Click here to learn more. More information and insight from Money Talk Money Talk Videos Follow us on Twitter. Landaas newsletter subscribers return to the newslett...

  Landaas & Company newsletter  May edition now available. Advisors on This Week's Show Kyle Tetting Art Rothschild Steve Giles (with Max Hoelzl and Joel Dresang, engineered by Jason Scuglik) Week in Review (May 8-12, 2023) Significant Economic Indicators & Reports Monday No major releases Tuesday No major releases Wednesday Inflation continued to slow in April, though it remained well above Federal Reserve Board targets. The Bureau of Labor Statistics reported that its Consumer Price Index rose 4.9% from April 2022, the 10th consecutive reduction in pace since exceeding a four-decade high of 9% last June. It was the lowest 12 rate since April 2021 but more than double the Fed long-range target of 2% inflation. Shelter costs contributed the most to the monthly rise, but their 0.4% gain from March was the slightest for the category in 15 months. A 3% rise in gasoline prices also boosted the index as well as a 4.4% jump in the cost of used vehicles. Thursday The four-week moving average for initial unemployment claims rose for the second week in a row, reaching its highest point since November 2021. Still, data from the Labor Department showed the measure 31% below the 56-year average, suggesting continued reluctance by employers to let workers go. Total claims for benefits declined 3% in the latest week to just under 1.8 million, compared to 1.4 million the year before. Inflation on the wholesale level registered a 2.3% annual increase in April, the lowest since January 2021. The Producer Price Index was down from as high as 11.2% last June. The Bureau of Labor Statistics said the index rose 0.2% from March, the first monthly gain in four months, mostly because of higher prices for services but also due to an increase in the cost of gasoline. The core rate of wholesale inflation, stripping out volatile prices for food, energy and trade services, also rose 0.2% for the month and was up 3.4% from April 2022. Friday The University of Michigan said consumer sentiment declined sharply from the end of April as both expectations and current assessments fell amid renewed concerns about the economy. Despite lack of empirical evidence, the university said, consumers are losing faith in the economy, exacerbated by political confrontations over the federal debt ceiling. The latest survey wiped out nearly half the gains made since consumer sentiment reached an all-time low last June. MARKET CLOSINGS FOR THE WEEK Nasdaq – 12285, up 49 points or 0.4% Standard & Poor's 500 – 4124, down 12 points or 0.3% Dow Jones Industrial – 33301, down 374 points or 1.1% 10-year U.S. Treasury Note – 3.46%, up 0.02% Not a Landaas & Company client yet? Click here to learn more. More information and insight from Money Talk Money Talk Videos Follow us on Twitter. Landaas newsletter subscribers return to the newsletter via e-mail

Josh and David open with a discussion of white flight and education in Alabama. In the guest segment, longtime Alabama Democratic Conference Chairman Joe Reed joins the show to discuss all things Alabama politics and the future of the Alabama Democratic Party. And we wrap with a discussion of Reed's legacy and this week's Rightwing Nut of the Week. Send us a question: We take a bit of time each week to answer questions from our audience about Alabama politics — or Alabama in general. If you have a question about a politician, a policy, or a trend — really anything — you can shoot us an email at apwproducer@gmail.com or with this form. You can also send it to us on Facebook and Twitter. Or by emailing us a voice recording to our email with your question, and we may play it on air. Either way, make sure you include your name (first name is fine) and the city or county where you live. About APW: APW is a weekly Alabama political podcast hosted by Josh Moon and David Person, two longtime Alabama political journalists. More information is available on our website. Listen anywhere you get your podcasts. Follow us on Twitter and Facebook. Music credits: Music courtesy of Mr. Smith via the Free Music Archive. Visit Mr. Smith's page here.

In this episode, Suze starts with a story about almost being stuck at sea.  The lesson from that experience leads to a Suze School about safe alternatives to the volatility of the stock market. To buy a Series I Bond visit: TreasuryDirect.Gov To read the article about how to buy a Treasury Note visit: https://thefinancebuff.com/tag/treasury-bills To participate in the Federal Student Debt relief Beta visit: https://studentaid.gov/debt-relief/application Take advantage of the Ultimate Opportunity Savings Account with Alliant Credit Union at: https://bit.ly/3vEUTZW Get Suze's special offers for podcast listeners at suzeorman.com/offer Join Suze's Women & Money Community for FREE and ASK SUZE your questions which may just end up on her podcast! To ask Suze a question, download by following one of these links: CLICK HERE FOR APPLE: https://apple.co/2KcAHbH CLICK HERE FOR GOOGLE PLAY: https://bit.ly/3curfMISee omnystudio.com/listener for privacy information.