Podcasts about treasury note

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

This week Stanford Brown CEO Vincent O'Neill meets again with CIO Nick Ryder to discuss the US's 10-year Treasury note breaking the 5 percent barrier for the first time in 16 years. They delve into reasons behind this surge in long-term yields and how much further they might rise. They also discuss the upcoming September quarter CPI data and its impact on the Reserve Bank of Australia's interest rate decisions.   Music provided by: Autumn Trumpet Background Corporate by LesFM | https://lesfm.net/ Music promoted by https://www.chosic.com/free-music/all/ Creative Commons CC BY 3.0 https://creativecommons.org/licenses/by/3.0/

  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

  Landaas & Company newsletter  April edition now available. Advisors on This Week's Show Kyle Tetting Art Rothschild Dave Sandstrom (with Max Hoelzl, engineered by Jason Scuglik)     MARKET CLOSINGS FOR THE WEEK Nasdaq – 12072, down 51 points or 0.4% Standard & Poor's 500 – 4134, down 4 points or 0.1% Dow Jones Industrial – 33809, down 77 points or 0.2% 10-year U.S. Treasury Note – 3.57%, up 0.05 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  March edition now available. 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 20-24, 2023) SIGNIFICANT ECONOMIC INDICATORS & REPORTS Monday No major announcements Tuesday The annual rate of existing home sales rose 14.5% to nearly 4.6 million in February, the first increase after 12 consecutive declines. Still, the pace was 23% slower than the year before, as higher mortgage rates have stifled activity. The National Association of Realtors said improved sales in February were most noticeable where mortgage rates and home prices softened and jobs were growing. Inventories remained near record lows, with only 2.6 months supply. The median sales price was $363,000, down 0.2% from the year before, the first time the year-to-year price fell in nearly 11 years. Wednesday The Federal Open Market Committee, the policy-making panel of the Federal Reserve Board, announced another 0.25 percentage point raise in the short-term fed funds rate. It was the ninth increase in the rate in the last year, raising it from nearly nothing to more than 4.5% in order to cool the overall economy and control inflation. The Fed reaffirmed its commitment to a long-range inflation rate of 2%. The broadly based Consumer Price Index reached 6% in February, having dropped from more than 9% in June. A word cloud of the Fed's statement emphasizes words used by their frequency. Thursday Labor market conditions showed continued strength, with the four-week moving average for initial unemployment claims remaining 47% below the 56-year average. The indicator of employers' reluctance to let workers go fell for the second week in a row, according to the Labor Department. Total claims dropped 3% from the week before to 1.9 million, which was up 4% from the same time the year before. The Commerce Department said new home sales rose 1% in February from the January pace but were 19% behind where they were the year before. A joint announcement with the Department of Housing and Urban Development reported an annual sales rate of 640,000 new houses, marking the 10th month in a row below the pre-pandemic mark of 690,000. The median sales price rose to $438,200, a 2.5% increase from February 2022. The year-to-year median price declined in January for the first time since August 2020. Friday Demand for manufactured items showed overall resilience in February despite the third decline in durable goods orders in four months. Drops in orders for commercial aircraft and automotive products brought down the monthly headline figure from the Commerce Department, as total orders fell 1%. However, orders were unchanged from January when excluding volatile demand for transportation equipment. Compared to the year before, overall orders rose 2% while orders excluding transportation rose 1.9%. Orders for core capital goods, a proxy for business investments, increased for the second month in a row and were up 4.3% from February 2022. MARKET CLOSINGS FOR THE WEEK Nasdaq – 11824, up 193 points or 1.7% Standard & Poor's 500 – 3963, up 47 points or 1.2% Dow Jones Industrial – 32231, up 369 points or  1.2% 10-year U.S. Treasury Note – 3.38%, down 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  March 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 (March 6-10, 2023) SIGNIFICANT ECONOMIC INDICATORS & REPORTS Monday A drop in commercial aircraft demand sent U.S. factory orders lower in January for the second time in three months. The Commerce Department said orders overall declined 1.6% from December and were 4.3% ahead of their level the year before. Excluding volatile orders for transportation equipment, demand rose 1.2% from the month before and was up 4.3% from January 2022. Core capital goods orders, a proxy for business investments, rose 0.8% for the month and 5.5% from the year before. Tuesday The Federal Reserve said credit card debt rose at an annual pace of 11.1% in January, far swifter than the overall 3.7% annualized increase in consumer debt outstanding. Measured year to year, credit card debt rose 15.6% from January 2022, the sixth month in a row to exceed 15%. Sustained use of credit cards suggests consumers continued spending at higher levels despite Fed interest rate increases aimed at weakening demand to help lower decades-high inflation. Wednesday The U.S. trade deficit widened by 1.6% to $68.3 billion in January, the Bureau of Economic Analysis reported. During the month, exports rose by 3.4%, led by pharmaceuticals and autos, offset by a decline in service exports such as travel. Meanwhile, imports rose 3% from December, driven by automotive goods, cell phones and travel services. Compared to January 2022, the trade gap narrowed by 22% as exports rose 13% and imports grew 3.5%. Economists consider trade deficits a detraction from overall economic growth. U.S. employers posted 10.8 million job openings in January, down from an upwardly revised 11.2 million in December. Demand for workers continued to outstrip supply as the number of unemployed workers seeking work in January reached 5.7 million, according to earlier reports from the Bureau of Labor Statistics. The biggest declines in job postings in January were at construction companies, hotels and restaurants, and financial and insurance companies. The number and rate of layoffs increased, while quits – a measure of worker confidence – declined. Thursday The Labor Department reported the four-week moving average for initial unemployment claims rose for the fourth week in a row, though it remained 46% below its average since 1967. Total claims for the latest week declined 2% from the week before to 1.9 million. That was just above the mark from the year before and down from 20.8 million at the same time in 2021. Friday Employers added 311,000 jobs in February, and the unemployment rate edged up from its lowest level since 1969. The Bureau of Labor Statistics' monthly jobs report, combining payroll data and household surveys, showed the robust pace of hiring slowing from the six-month average of 336,000 jobs per month and the 12-month average of 362,000. The leisure and hospitality industry accounted for about a third of the jobs gain in February but remained more than 400,000 (2%) behind its level just before the pandemic. Overall payrolls were up 3 million jobs (2%) from February 2020. Meanwhile, the unemployment rate rose to 3.6% from 3.4% in January with a rise in the number of workers losing jobs or completing temporary positions. MARKET CLOSINGS FOR THE WEEK Nasdaq – 11139, down 550 points or 4.7% Standard & Poor's 500 – 3862, down 184 points or 4.5% Dow Jones Industrial – 31910, down 1481 points or  4.4% 10-year U.S. Treasury Note – 3.70%, down 0.27 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 Tom Pappenfus (with Jason Scuglik, Joel Dresang) Week in Review (Feb. 20-24, 2023) Significant Economic Indicators & Reports Monday Markets closed for Presidents Day Tuesday The National Association of Realtors reported that existing home sales slowed in January for the 12th month in a row. The annual sales rate fell to 4 million houses, down less than 1% from December's pace but 37% below its level of 6.3 million in January 2022. The trade association contended that sales have bottomed out, citing growth in places with lower home values. Inventories rose slightly from December but remained less than half the level considered sustainable to balance supply and demand. The median sales price, $359,000, was up about 1% from the year before, marking the 131st consecutive year-to-year gain. Wednesday No major releases Thursday The four-week moving average for initial unemployment insurance claims rose for the second week in a row following nine consecutive declines. The level was 48% below the 56-year average, according to new Labor Department data. The level returned to where it was just before the COVID-19 pandemic. Barely 2 million Americans claimed jobless benefits in the latest week, just below the year-earlier level but down from nearly 20 million claims at the same time in 2021. The U.S. economy rose slightly less than initially estimated in the fourth quarter, with gross domestic product expanding at a 2.7% annual rate. The Bureau of Economic Analysis said consumer spending, which drives about two-thirds of economic activity, rose at an annual rate of 1.4% from October through December, down from an initial estimate of 2.1%. Business investments, particularly in software, were stronger than initially estimated. Imports, which offset economic growth, declined less than estimated. For all of 2021, the economy grew by 0.9%, adjusting for inflation. It was up 6.3% from its peak just before the pandemic. Friday The Commerce Department said new home sales rose in January to an annual rate of 670,000 houses. That was up 7% from December's rate but 19% behind the 831,000-house pace in January 2022. The median price for a new house was $427,500, down nearly 1% from the year before, marking the first time since August 2020 that the year-to-year comparison declined. The number of new houses for sale in January fell for the fourth month in a row. The Bureau of Economic Analysis showed consumer spending rising in January for the first time in three months and at the highest rate since the March 2021 federal stimulus payment. Expenditures increased 1.8% while personal income rose 0.6%. After adjusting for inflation and taxes, January was the fourth month in a row for income to outpace spending. As a result, the personal saving rate rose for the fourth month straight. The Federal Reserve's main gauge of inflation stayed well above its long-range target of 2%. The year-to-year inflation rate hit 5.4% after hitting 5.3% in December, which was down from a 41-year high of 7% in June. A precursor to spending, consumer sentiment, ticked up for the third month in a row. The University of Michigan said its survey-based index remained closer to its all-time low in June than to the historical average. Improved outlooks toward current economic conditions mostly boosted overall sentiment, the university said, especially among wealthier stockholders. Ongoing uncertainty over inflation prompted a forecast of unstable expectations for the near future. MARKET CLOSINGS FOR THE WEEK Nasdaq – 11395, down 392 points or 3.3% Standard & Poor's 500 – 3970, down 109 points or 2.7% Dow Jones Industrial – 32817, down 1010 points or  3.0% 10-year U.S. Treasury Note – 3.95%, up 0.12 point Not a Landaas & Company client yet? Click here to learn more.

  Landaas & Company newsletter  February edition now available. Advisors on This Week's Show Kyle Tetting Dave Sandstrom Mike Hoelzl (with Max Hoelzl and Joel Dresang, engineered by Kevin Lofy) Week in Review (Feb. 6-10, 2023) Significant Economic Indicators & Reports Monday No major releases Tuesday The U.S. trade deficit expanded to a record $948 billion in 2022, 12% wider than in 2021, the Bureau of Economic Analysis reported. In December alone, the gap grew more than 10% as exports shrank, led by declines of industrial materials and consumer goods. Imports rose in December, with U.S. consumers buying more imported automobiles and cell phones. As a share of the overall economy, the trade deficit was 3.7% of gross domestic product in 2022, up from 3.6% in 2021. In another sign that economic growth may be slowing, the Federal Reserve reported a lower increase in consumer credit card debt outstanding in December. So-called revolving debt rose at a 7.3% annual rate in December, down from nearly 16% in November and the slowest in 17 months. The pace of consumer credit debt overall – including student loans and automotive financing – rose 2.9% in December. With consumer spending driving about two-thirds of the gross domestic product, credit card debt can be considered a gauge of spending confidence. The level in December was $96 billion or 9% above its pre-pandemic peak. Wednesday No major releases Thursday The four-week moving average for initial unemployment claims declined for the ninth week in a row, reaching the lowest level since April. Data from the Labor Department showed the latest four-week average was 49% 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 go in a tight labor market. Total claims rose 2.7% from the week before to 1.9 million, which was 13% lower than the year before and less than one-tenth the total at the same time in 2021. Friday The University of Michigan said consumer sentiment edged up from January as well as the year before, but overall it was 22% below its average since 1978. Short-term inflation continued to worry consumers as well as a concern that higher unemployment may lie ahead. University researchers said their survey results suggest consumers will be cautious in coming months. MARKET CLOSINGS FOR THE WEEK Nasdaq – 11718, down 289 points or 2.4% Standard & Poor's 500 – 4090, down 46 points or 1.1% Dow Jones Industrial – 33869, down 57 points or  0.2% 10-year U.S. Treasury Note – 3.74%, up 0.21 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  January edition now available. Advisors on This Week's Show Kyle Tetting Adam Baley Paige Radke (with Max Hoelzl, Joel Dresang, engineered by Jason Scuglik) Week in Review (Jan. 16-20, 2023) Significant Economic Indicators & Reports Monday Markets closed in observance of Martin Luther King Jr. Day Tuesday No major announcements Wednesday In another sign of slowing inflation, the Producer Price Index declined 0.5% in December, according to the Bureau of Labor Statistics. It was the first monthly slip in wholesale inflation since August and brought the year-to-year measure to 6.2%, the lowest since March 2021. For the month, prices declined for goods and rose slightly for services. Excluding volatile food, energy and trade services prices, the core PPI rose 0.1% from December, its weakest move since November 2020. The Commerce Department said retail sales declined in December for the second month in a row and the third time in four months. The drop-off was widespread across retail categories, including bars and restaurants, but particularly noticeable among car dealers and furniture stores, which are especially vulnerable to rising interest rates. Only building supply centers and sporting goods stores had more sales in December. Adjusting for inflation, retail sales were up 12% since the onset of the pandemic in February 2020. Industrial production also declined in December for the second straight month. The Federal Reserve Board said output from factories, mines and utilities fell 0.7% from November, which was 0.6% lower than October. Manufacturing production fell broadly across sectors with only defense and space equipment markets gaining. Industries' capacity utilization rate – an indicator of inflation – sank for the third month in a row, dipping to its lowest level in a year and below its 50-year average for the second consecutive month. Thursday The pace of U.S. housing starts and building permits continued to slow in December. Both activities dipped below pre-pandemic levels as higher interest rates and lower demand have discouraged developers and builders. The Commerce Department said the annual pace of permits declined nearly 2% from November and was down 30% from December 2021. Starts were down more than 1% from the month before and down 22% from the year before. As new construction slowed, completions outpaced starts, and the level of houses under construction hit a record high, based on data going back to 1970. The four-week moving average for initial unemployment claims fell for the sixth week in a row to its lowest level since May. An indicator of employers' reluctance to let workers go, the moving average was 44% below the average since 1967, according to Labor Department data. Meanwhile, total claims for jobless benefits rose 9% from the week before to 1.9 million. That was down from 2.3 million the year before and 16.9 million the year before that. Friday Full-year existing home sales reached just above 5 million, a 18% drop from 2021, which had been the highest level since 2006. The National Association of Realtors said limited supply and high mortgage rates slowed sales by 1.5% from November, the 11th decline in a row. But the trade group also said it expected sales to pick up soon because inventories were up about 10% from the year before and mortgage rates have been receding since a recent peak above 7% for  a traditional loan in November. The median sales price rose 2.3% from the year before to $366,900, the 130th consecutive year-to-year gain. MARKET CLOSINGS FOR THE WEEK Nasdaq – 11140, up 61 points or 0.6% Standard & Poor's 500 – 3972, down 27 points or 0.7% Dow Jones Industrial – 33374, down 928 points or  2.7% 10-year U.S. Treasury Note – 3.48%, 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 & Company newsletter  January edition now available. Advisors on This Week's Show Kyle Tetting Dave Sandstrom Paige Radke (with Max Hoelzl and Joel Dresang, engineered by Jason Scuglik) Week in Review (Jan. 9-13, 2023) Significant Economic Indicators & Reports Monday Credit card debt rose to a record $1.18 trillion in November, a sign that consumers remain confident spending amid rising interest rates and decades-high inflation. The Federal Reserve Board reported that overall consumer credit outstanding, including vehicle financing and student loans, rose at an annual rate of 7.1% from October. Revolving credit card debt rose at a 16.9% annual pace, up from 10.3% in October and 8.2% in September. Consumer spending drives about 70% of U.S. economic activity and has been expected to slow as the Fed tries to tamp down inflation. Tuesday No major announcements Wednesday No major announcements Thursday The broadest measure of inflation showed prices rising at the slowest annual pace since October 2021. The Consumer Price Index rose 6.5% in the 12 months since December 2021. Down for the sixth month in a row since reaching a 40-year high of 9% in June, the rate is still well above the Fed's long-range target of 2%. Lower prices for gasoline and airline travel helped slow both the one-year and one-month inflation rates overall, but they offset increased costs for food and shelter. The core CPI, which excludes volatile prices for food and energy, rose 5.7% from December 2021, the lowest in a year. The four-week moving average for initial unemployment claims fell for the fifth week in a row, staying 42% below the long-term average and hitting its lowest point since mid-October. The Labor Department said 1.7 million Americans claimed jobless benefits the week after Christmas, up 8% from the week before but down from 2.1 million the year before, vs. 19.4 million the year before that. Friday A preliminary January reading of consumer sentiment suggested attitudes continuing to brighten, though they're still historically low. The University of Michigan said its longstanding index rose to 64.6 mid-month, up from 59.7 in December and down from 67.2 in January 2022. The survey-based index showed improvements both in expectations and in assessments of current conditions. Sentiment toward personal finances was the highest in eight months amid rising incomes and lower inflation. Expectations for inflation eased a bit but remained fraught with uncertainty. MARKET CLOSINGS FOR THE WEEK Nasdaq – 11079, up 510 points or 4.8% Standard & Poor's 500 – 3999, up 104 points or 2.7% Dow Jones Industrial – 34303, up 672 points or  2.0% 10-year U.S. Treasury Note – 3.51%, down 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  January edition now available. Advisors on This Week's Show Kyle Tetting Tom Pappenfus Paige Radke with  Jason Scuglik Week in Review (Dec. 26-30, 2022) SIGNIFICANT ECONOMIC INDICATORS & REPORTS Monday No major releases Tuesday Housing inflation continued to slow in October. The S&P CoreLogic Case-Shiller national index rose 9.2% from its year-earlier measure. It was the seventh consecutive deceleration from a record high of nearly 21% in March. An economist with the Case-Shiller index said higher mortgage rates, fueled by Federal Reserve interest rate increases, remains a head wind for home prices. Wednesday The National Association of Realtors also blamed higher interest rates for a 4% decline in its pending home sales index. The drop was the sixth in the row for the index, which was down 38% from the year before and stood at the second lowest level in 20 years.https://www.nar.realtor/newsroom/pending-home-sales-slid-4-0-in-november Thursday The four-week moving average for initial unemployment claims fell for the third week in a row, suggesting ongoing strength in the labor market. The measure of employers' willingness to let workers go was 40% below its 55-year average, according to Labor Department data. Total claims numbered more than 1.6 million, up 6% from the week before but down from 2.2 million the year before and 20.4 million at the same time in 2020. Friday No major releases MARKET CLOSINGS FOR THE WEEK Nasdaq – 10466, down 31 points or 0.3% Standard & Poor's 500 – 3840, down 5 points or 0.1% Dow Jones Industrial – 33148, down 56 points or  0.2% 10-year U.S. Treasury Note – 3.88%, up 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  December edition now available. Advisors on This Week's Show Bob Landaas Kyle Tetting Art Rothschild Kendall Bauer (with Max Hoelzl, engineered by Jason Scuglik) Week in Review (Dec. 12-16, 2022) 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 for the fifth month in a row. The Bureau of Labor Statistics said its Consumer Price Index added 0.1% from October and was up 7.1% from November 2021 after a 40-year high of 9.1% in June. Inflation remained near 1982 levels and far above the Federal Reserve Board's long-range target of 2%. Shelter costs accounted for most of the monthly increase while the price of gasoline got cheaper. Excluding volatile costs for energy and food, the core 12-month inflation rate was 6%, a second monthly decline since hitting a 40-year high of 6.6% in September. Wednesday The policy-making committee of the Federal Reserve Board announced a unanimous decision to raise short-term interest rates another half a percentage point. It was the Fed's seventh hike this year in its attempt to lower economic demand and ease inflation. The half-point increase was down from recent moves of three-quarters, but the Federal Open Market Committee said it expects more raises ahead. Thursday The Commerce Department reported a 0.6% decline in retail sales in November, following a 1.3% gain in October. The drop was broadly distributed: Nine of 13 major categories had lower sales in November, including car dealerships, furniture stores, appliance centers and home-and-garden centers. Consumer spending rose notably at grocery stores and bars and restaurants. Compared to November 2021, only two retail categories had lower sales: Furniture stores and appliance centers. Adjusted for inflation, retail sales fell 0.7% in November, the fifth decline in seven months. The four-week moving average for initial unemployment claims fell for the first time in six weeks but still close to 40% below its 55-year average. Although data can be marginally affected by seasonal downtime, including around Thanksgiving, the Labor Department reported total claims rising 24% from the week before to nearly 1.6 million. That's down from almost 2.5 million the year before, suggesting employers' reluctance to let workers go. U.S. industrial output fell 0.1% in November, its second drop in a row and the third in four months. The Federal Reserve reported a broad decline in industrial production, led by manufacturing — particularly automakers. Factory output had advanced in the four previous months. Overall industrial production was up 2.5% from the year before. Reflecting the monthly drop in production, the capacity utilization rate fell for the second month in a row, reaching its lowest level since June but still up slightly from its long-term average. The capacity utilization rate is an indicator of inflationary pressure. Friday No major announcements MARKET CLOSINGS FOR THE WEEK Nasdaq – 10705, down 299 points or 2.7% Standard & Poor's 500 – 3852, down 82 points or 2.1% Dow Jones Industrial – 32920, down 556 points or  1.7% 10-year U.S. Treasury Note – 3.48%, 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 Steve Giles Adam Baley (with Max Hoelzl, engineered by Kevin Lofy) Week in Review (Dec. 5-9, 2022) SIGNIFICANT ECONOMIC INDICATORS & REPORTS Monday   The U.S. services industry expanded for the 30th month in a row in November, and at a faster rate, the Institute for Supply Management reported. The ISM services index showed the pace of growth accelerating for the first time in three months. Index components for business activity and employment drove the increase, while growth in new orders slowed slightly. The trade group said the index suggested the overall U.S. economy was growing at an annual pace of 2.3%. The manufacturing sector also showed ongoing strength, with factory orders for October growing for the 12th time in 13 months. The Commerce Department reported broad gains led by transportation equipment – particularly aircraft and automotive products. Compared to the same time last year, factory orders were up nearly 13% - just below 12% excluding transportation. Orders for core capital goods, a measure of business investment, rose in October and was up more than 9% from October 2021. Tuesday The U.S. trade gap widened 5.4% to $78.2 billion in October. The value of exports shrank from September by 0.7% with declines in sales abroad of natural gas, oil products and pharmaceuticals. Meanwhile, imports rose 0.6% with increased purchases of industrial materials and cars. The Bureau of Economic Analysis said the trade deficit, which detracts from measures of economic output, grew 20% through the first 10 months of 2022 compared to the same period in 2021. Wednesday The Bureau of Labor Statistics said worker productivity rose at an annual rate of 0.8% in the third quarter, up from an earlier estimate of a 0.3% gain. The annual growth rate for output rose 3.3% in the quarter while the pace of hours worked rose 2.5%. Measuring year over year, productivity slipped 1.3%, the third consecutive decline. Since the third quarter of 2021, output rose 2.1% while hours worked increased 3.4%. The report showed unit labor costs rising 5.3% from the year before. Adjusted for inflation, hourly compensation fell 4% in the latest 12 months, the biggest drop in 74 years of data. The Federal Reserve Board reported a 19th consecutive rise in consumer credit card debt outstanding in October. Total debt, including vehicle financing and student loans, rose at a 6.9% annual rate from September, but revolving credit, which mostly reflects credit cards, gained at a rate of 10.4%. The level of credit card debt suggests consumers' willingness to spend. In October, it was more than $71 billion or 6% above where it was just before the pandemic. The indicator took two years to recover from the COVID recession, vs. a decade-long recovery from the financial collapse and Great Recession. Thursday The four-week moving average of initial unemployment claims continued to reflect a slight weakening of a historically strong labor market. The Labor Department reported an uptick in the average for the fourth week in a row. Only once in the previous 10 weeks did initial claims decline. Still, the moving average is 38% below its 55-year average, suggesting the reluctance of employers to let workers go. Just under 1.3 million Americans claimed jobless benefits in the latest week, down 6% from the week before, compared to 1.9 million the year before. Friday   MARKET CLOSINGS FOR THE WEEK Nasdaq – 11005, down 457 points or 4.0% Standard & Poor's 500 – 3934, down 137 points or 3.4% Dow Jones Industrial – 33476, down 954 points or  2.8% 10-year U.S. Treasury Note – 3.57%, 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  December edition now available. Advisors on This Week's Show Kyle Tetting Art Rothschild Mike Hoelzl (with Max Hoelzl, engineered by Jason Scuglik) In a special Thanksgiving Money Talk Podcast, investment advisors from Landaas & Company 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 MARKET CLOSINGS FOR THE WEEK Nasdaq – 11226, up 80 points or 0.7% Standard & Poor's 500 – 4026, up 60 points or 1.5% Dow Jones Industrial – 34347, up 599 points or  1.8% 10-year U.S. Treasury Note – 3.7%, down 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  November 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 (Nov. 7-11, 2022) Significant Economic Indicators & Reports Monday The Federal Reserve reported that revolving consumer credit rose at an annual rate of 8.7% in September. The increase suggests consumer spending – which drives about two-thirds of the U.S. economy – remained resilient in the face of high inflation and rising interest rates. It also indicates consumers are financing more of their spending as government subsidies from the onset of the COVID-19 pandemic have dwindled and as wage increases have not kept up with inflation. The pace of credit card debt slowed from an 18% annual rate in August and was the slowest since May. The indicator took two years to recover from its pre-pandemic peak. It took a decade to recover from the financial collapse and the Great Recession. Tuesday No major releases Wednesday No major releases Thursday The broadest measure of inflation showed price increases easing in October, though they're still outpacing Federal Reserve Board targets. The Consumer Price Index gained 0.4% from September and 7.7% from October 2021. Shelter costs, the price of gasoline and food bills weighed heavily on the monthly increase, though food prices rose at the slowest pace since December, the Bureau of Labor Statistics reported. The year-to-year inflation rate marked four months of declines from 9.1% in June, which was the steepest pace since 1982. The core CPI, which excludes the volatile categories of food and energy, rose 0.3% from September, the lowest in three months. Compared to October 2021, the core CPI was up 6.3%, just under the 6.6% peak hit in September, the highest in 40 years. The Fed's long-range target for inflation is 2%. The four-week moving average for initial unemployment claims declined marginally for the second week in a row. Data from the Labor Department showed the four-week average still down 41% from its 55-year average but 14% above its low just before the COVID-19 pandemic. Nearly 1.3 million Americans were claiming jobless benefits in the latest week, up 1% from the week before but down from 2.6 million the year before. Friday The University of Michigan said consumer sentiment declined from the end of October, losing about half of the gains made since slumping to an all-time low in June. Uncertainty from global factors and U.S. election outcomes mean continued instability for sentiment, which economists consider key to consumer spending. Survey respondents registered broad declines in their both their outlooks and their assessments of current conditions. Rising interest rates and high inflation dampened plans to buy big-ticket durable goods. Expectations for inflation were little changed at about 5% for a year from now and around 3% long term. MARKET CLOSINGS FOR THE WEEK Nasdaq – 11323, up 848 points or 8.1% Standard & Poor's 500 – 3993, up 222 points or 5.9% Dow Jones Industrial – 33748, up 1343 points or 4.1% 10-year U.S. Treasury Note – 3.81%, 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.

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.

  Landaas & Company newsletter  October edition now available. Advisors on This Week's Show Kyle Tetting Steve Giles Adam Baley (with Max Hoelzl, Joel Dresang, engineered by Kevin Lofy, Jason Scuglik) Week in Review (Oct. 17-21, 2021) Significant Economic Indicators & Reports Monday No major announcements Tuesday The Federal Reserve reported that industrial production rose 0.4% in September and capacity utilization remained above its long-term average for the seventh month in a row. The capacity rate, the highest since March 2008, was another sign of inflation because traditionally companies raise prices as they run out of ability to keep up with orders. The monthly report showed production rebounding after a slight decline in August. Factories increased output for the third month in a row, although the pace of such growth slowed in the third quarter, and the production of consumer goods declined. The capacity rate for manufacturing remained above its 50-year average for the 12th month in a row. Wednesday The U.S. housing market continued to cool in September as the pace for both housing starts and building permits slowed from post-financial crisis highs reached earlier in the year. Figures from the Commerce Department showed new construction below its pre-pandemic rate for the third month in a row. Starts for single-family houses dipped to their lowest level since May 2020. Housing permits, an indicator of commitments to future homebuilding, rose from their pace in August but only for multi-family units. Single-family housing permits dropped for the seventh month in a row. And though new construction has been slowing, the report showed that the rate of houses under construction reached 1.7 million units in September, the highest in data going back to 1970. Thursday The four-week moving average for initial unemployment claims rose for the third week in a row and was 11% higher than its low point just before the pandemic. Still, the measure of employers' reluctance to let workers go was 43% behind the long-term average, dating back to 1967. According to Labor Department data, total jobless claims fell to 1.2 million in the latest week, down 2.5% from the week before. The year before, total claims reached 3.3 million. The pace of existing home sales continued sinking in September as mortgage rates rose.  Houses sold at an annual rate of 4.7 million, down 1.5% from August and down 24% from September 2021, the National Association of Realtors reported. It was the slowest pace in a decade. The trade group said despite weakened demand, inventories remained low. One in every four houses sold in September went for more than the asking price. The median price was $348,800, decreasing for the third month in a row from a record $413,800 in June. The median price in September was 8% higher than the year before, marking a record 127 consecutive months of year-to-year price increases. The Conference Board said its index of leading economic indicators declined 0.4% in September, deepening a negative trend that suggests a U.S. recession before the end of the year. The business research group said its index was down 2.8% in the last six months, following a 1.4% gain in the previous six. Citing high inflation, slowing job growth and rising interest rates, the group forecast a 1.4% economic expansion for 2022 with further slowing into the new year. Friday No major announcements MARKET CLOSINGS FOR THE WEEK Nasdaq – 10860, up 538 points or 5.2% Standard & Poor's 500 – 3753, up 170 points or 4.7% Dow Jones Industrial – 31083, up 1448 points or 4.9% 10-year U.S. Treasury Note – 4.21%, up 0.20 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.

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.

  Landaas & Company newsletter  October edition now available. Advisors on This Week's Show KYLE TETTING ART ROTHSCHILD Kendall Bauer (with Max Hoelzl, Joel Dresang, engineered by Kevin Lofy, Jason Scuglik) Week in Review (Oct. 10-14, 2022) SIGNIFICANT ECONOMIC INDICATORS & REPORTS Monday No major announcements Tuesday No major announcements Wednesday Prices on the wholesale level rose in September, the first increase in three months and another reminder of stubbornly high inflation. The Bureau of Labor Statistics said its Producer Price Index rose 0.4% from August largely affected by higher costs for services as well as increases for food and home heating. The core index number, which excludes volatile prices for food, energy and trade services, also rose 0.4%. Compared to the year before, the PPI gained 8.5%, slowing for the third month in a row and the lowest wholesale inflation since July 2021. Core PPI rose 5.6% from September 2021, the same as in August; that was down from as high as 7.1% in March. Thursday The Bureau of Labor Statistics said its Consumer Price Index rose at a slower annual pace, though its core rate increased at its fastest since 1982. Considered the broadest measure of inflation, the CPI gained 0.4% from August, led by higher prices for shelter, food and medical care. The core rate, stripping out volatile costs for food and energy, increased by 0.6%. Year to year, headline inflation rose 8.2%, its lowest since February. The core CPI was up 6.6% from the year before, the biggest gain since August 1982. The core increase was led by a 15% rise in shelter costs and a 9% gain in new car prices. Based on CPI data, the Social Security Administration announced an 8.7% adjustment to benefits in 2023. That was the biggest raise for Social Security recipients since an 11.2% boost in 1981. The four-week moving average for initial unemployment claims rose for the second week in a row but also the second time in nine weeks. Claims averaged 211,500 in the most recent reading from the Labor Department, 43% below the 55-year average. Altogether, more than 1.2 million Americans claimed jobless benefits in the most recent week, up 0.6% from the week before but one-third of the 3.6 million claims one year earlier. Friday With consumer spending driving about 70% of the U.S. gross domestic product, no change in retail spending in September suggests at least a momentary pause in momentum. Of 13 retail categories, seven experienced lower sales in September, the Commerce Department reported. Among the decliners were gas stations, electronics and appliance centers and furniture stores. Bars, restaurants and grocery stores were among the top gainers. Adjusted for inflation, retail sales fell for the fifth time in seven months and were 13% above the level just before the COVID-19 pandemic. A preliminary October reading of consumer sentiment suggested that uncertainty continued to dampen outlooks. The survey-based index from the University of Michigan rose marginally from September furthering a gradual recovery from an all-time low in June. suppress expectations amid lingering coronavirus concerns and supply-chain disruptions. Opinions of current conditions rose slightly, but expectations stayed low because of doubts about prices, economies and financial markets globally. Anticipation of higher gas prices in the next year rose for the first time in three months. MARKET CLOSINGS FOR THE WEEK Nasdaq – 10321, down 331 points or 3.1% Standard & Poor's 500 – 3584, down 56 points or 1.5% Dow Jones Industrial – 29644, up 347 points or 1.2% 10-year U.S. Treasury Note – 4.01%, up 0.13 point Send us a question for our next podcast. 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 PAIGE RADKE (with Max Hoelzl, Joel Dresang, engineered by Jason Scuglik) Week in Review (Sept. 19-23, 2022) SIGNIFICANT ECONOMIC INDICATORS & REPORTS Monday No major announcements Tuesday As mortgage rates continued to climb, the U.S. housing industry showed signs of sputtering in August. Both housing starts and building permits remained below recent highs, according to the Commerce Department. The annual rate of housing starts rose to 1.6 million, 12% above the July pace but more than 10% below the rate in April, which was the highest since 2006. Meantime, the August pace for permits declined for the fifth month in a row, down 14% from the year before. The annual rate of housing completions was 1.3 million, around the pace in 2007, before the financial collapse. Construction of new houses remained elevated with the pace of housing under constructions surpassing 1.7 million, the most in data back to 1970. Wednesday The annual rate of existing home sales fell 0.4% to 4.8 million in August, the seventh consecutive decline and 20% below the year-ago pace. The National Association of Realtors blamed rising mortgage interest rates for dampening demand. The trade group said higher financing costs also deterred potential sellers from moving. Inventories declined in August for the first time in six months but were at about half the level considered sustainable. House prices continued to rise for a record 126th consecutive month. The median sales price of $389,500 was up nearly 8% from August 2021. The Federal Reserve Board's policy making committee announced a unanimous agreement to increase overnight lending rates to the range of 3% to 3.25% in a continuing effort to slow down the U.S. economy to tame decades-high inflation rates. The Federal Open Market Committee issued a statement suggesting it would consider further interest rate increases to try to bring inflation closer to its long-range goal of 2%.  The Fed's preferred measure of inflation showed a 6.3% rate in July. Thursday Labor market conditions continued improving. The four-week moving average for initial unemployment claims declined for the fourth week in a row, reaching its lowest point in three months and falling 41% below the 55-year average. The Labor Department said total claims fell 7% from the week before to just below 1.3 million. The year before, total claims were 11.2 million. The Conference Board's index of leading economic indicators sank 0.3% in August, its sixth monthly decline. The index dropped 2.7% in the latest six months as opposed to a gain of 1.7% in the previous six months. The reversal prompted the business research group to say that because of tightening monetary policies by the Federal Reserve, the U.S. could slide into recession “in the coming quarters.” Friday No major announcements MARKET CLOSINGS FOR THE WEEK Nasdaq – 10868, down 580 points or 5.1% Standard & Poor's 500 – 3693, down 180 points or 4.6% Dow Jones Industrial – 29593, down 1230 points or 4.0% 10-year U.S. Treasury Note – 3.70%, up 0.25 point Send us a question for our next podcast. 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 Dave Sandstrom Tom Pappenfus (with Max Hoelzl, Joel Dresang, engineered by Jason Scuglik) Week in Review (Sept. 12-16, 2022) Significant Economic Indicators & Reports Monday No major announcements Tuesday Inflation remained relatively high in August, though it continued to recede from recent levels. The Bureau of Labor Statistics said the Consumer Price Index added 0.1% from July. That followed no change in July but was below the 12-month average of 0.7%. The critical year-to-year inflation rate was 8.3%, down from 8.5% in July and a 40-year high of 9.1% in June. Gasoline prices fell 11% for the month, offsetting broad gains including shelter, medical care and household furnishings. Gas was up 26% from August 2021. Excluding volatile food and energy prices, the core CPI rose 0.6% in August. Year to year, the core CPI was up 6.3%, up from 5.9% in both June and July. Wednesday Inflation on the wholesale level also eased in August, the Bureau of Labor Statistics reported. The Producer Price Index declined for the second month in a row, led by a decrease in prices for goods, heavily influenced by a 13% drop in gasoline prices. Excluding volatile prices for foods, energy and trade, the core PPI advanced 0.2% from July. Wholesale inflation rose 8.7% from August 2021, the smallest 12-month increase in a year. The core measure rose 5.6% year to year, the weakest since June 2021. Thursday The Commerce Department reported a 0.3% rise in retail sales in August, led by online stores, where sales grew nearly 3% from July. Sales rose at eight of the 13 major retail categories. Sales at bars and restaurants gained 1%. Gas stations led decliners with a 4% drop in revenue because of lower prices. Adjusted for inflation (the lower line in the graphic below), retail sales rose in August for the first time in four months; they were 14% ahead of where they were in February 2020, just before the pandemic. The four-week moving average for initial unemployment claims fell for the third time in four weeks., dropping to its lowest level since mid-June. According to Labor Department data, the average moved to 224,000 new applications, down from a record 5.3 million in April 2020 and 39% below the 55-year average. Just under 1.4 million Americans claimed jobless benefits in the latest week, down nearly 2% from the week before and down from more than 12 million the year before. U.S. industrial output fell 0.2% in August, the first decline in three months. A 2.3% drop in production from utilities dragged the measure down, the Federal Reserve reported. Output from factories rose 0.1% while the mining industry registered no change. Since August 2021, overall industrial production rose nearly 4%. Capacity utilization continued to show inflation pressure. Although it declined slightly to 80% from 80.2% in July, the operating rate stayed above the 50-year average of 79.6% for the sixth month in a row. Friday Consumer sentiment continued improving slightly in September from “extremely low” levels earlier in the summer, the University of Michigan reported. A preliminary look at survey data suggested ongoing uncertainty over inflation, though the most optimistic outlook for long-term prospects in a year or more. Sentiments toward personal finances and big-ticket buying plans remained relatively low, a possible signal that consumers may be pulling back on spending, which probably would slow economic growth. MARKET CLOSINGS FOR THE WEEK Nasdaq – 11448, down 664 points or 5.5% Standard & Poor's 500 – 3873, down 194 points or 4.8% Dow Jones Industrial – 30822, down 1330 points or 4.1% 10-year U.S. Treasury Note – 3.46%, up 0.13 point Send us a question for our next podcast. Not a Landaas & Company client yet? Click here to learn more. More information and insight from Money Talk Money Talk Videos