In a video Glen Dorsey and Pete Eisenrich review their views on the economy and markets now and their outlook for the future.

Click HERE to view Clark Capital’s Quarterly Economic and Market Review and Outlook.

Overall inflation over the last 12 months decreased from 4.3% to 3.5%, which was lower than economists expected.  Monthly inflation declined .4% which was the largest monthly decrease since 2020.   Most of the decrease was due to falling gas prices.

Core inflation, which excludes food and energy and is the metric the Fed takes into greater consideration, lowered from 2.9% to 2.6% for the last 12 months.

Lower inflation, if it continues, would lower the risk that the Fed raises interest rates to combat inflation which would likely be negative for the economy as well as the investment markets.  However, with the Iran conflict heating up again resulting in rising gas prices, it is hard to predict inflation going forward and how the Fed will eventually act.

Thank you very much for taking time today to keep informed by reading this post. 

These surveys indicate whether businesses are expanding, numbers over 50, or contracting, numbers under 50. 

Manufacturing businesses rated at 53.3 for the month and service businesses 54 for the month.  These numbers are higher than April, but lower than May, but still are a good indicator that economic growth is likely to seen when the official numbers are released in the next few months. 

So, despite higher oil prices and low consumer confidence, customers continued to buy an increasing amount of goods and services from businesses, leading to economic growth and profits resulting in higher stock prices.

Thank you very much for taking time today to keep informed by listening to this post.  We at Myers Capital Management wish you God’s blessing. 

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