Wall Street breathed a sigh of relief this morning as initial jobless claims and July's retail sales reports highlighted labor market and consumer resiliency...
Wall Street breathed a sigh of relief this morning as initial jobless claims and July's retail sales reports highlighted labor market and consumer resiliency amid continued inflationary pressures. BMO Wealth Management US chief investment officer Yung-Yu Ma joins Morning Brief to break down the prints and what it means for the economy ahead of the Federal Reserve 's September interest rate decision.
Uh, that may have been on hold for some time, some of the pent up demand, uh, by consumer loans as well. If we do see more of those spend announcements, what is that signal to you in terms of what we could see on, on a hit for earnings growth?And there's concern, there's been concern that some of the A I spending is unsustainable and it's not resulting in uh ultimate productivity gains or efficiency gains for companies.
J you given your outlook here, you're expecting growth in the maybe about towards the end of the year, especially going into 2025.This is a very large surprise, the upside for retail sales and very broad base.I don't think it takes 50 basis point cut off the table. I think the fed has room to do that given where CP I uh where CP I other inflation data is now and along with some weakening in the labor market, which has been taking place.
Minnesota Gov. Tim Walz and Ohio Sen. JD Vance have agreed to debate each other on Oct. 1, setting up a matchup of potential vice presidents as early voting in some states gets underway for the general election. CBS News on Wednesday posted on its X feed that the network had invited both Vance and Walz to debate in New York City, presenting four possible dates — Sept. 17, Sept. 24, Oct. 1 and Oct. 8 — as options.
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