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From the Census Bureau reported that overall construction spending increased: Construction spending during July 2023 was estimated at a seasonally adjusted annual rate of $1,972.6 billion, 0.7 percent above the revised June estimate of $1,958.9 billion. The July figure is 5.5 percent above the July 2022 estimate of $1,869.3 billion. emphasis added Private spending increased and public spending decreased: Spending on private construction was at a seasonally adjusted annual rate of $1,548.9 billio
The Fed is done. It’s unimaginable that they will do anything at the September FOMC meeting, and barring any radical change in the data, it’s unlikely they will be doing anything in November. I have been saying since June 2022 that inflation had peaked; the data has been leaning that way since May 2022. If you were watching the video instead of the still pic , it was apparent that the biggest risk to the economy then was less rising prices than a tardy FOMC over-tightening.
The headline jobs number in the August employment report was at expectations, however, employment for the previous two months was revised down by 110,000, combined. The participation rate increased, and the employment population ratio was unchanged, and the unemployment rate increased to 3.8%. The increase in the unemployment rate was due to the increase in the participation rate as 736 thousand people jointed the labor force in August.
Where are top advisors focusing in 2025? AcquireUp’s 2025 Industry Index reveals it all. Based on insights from 200+ financial professionals nationwide, discover why 74% say seminars and referrals deliver the best ROI, how automation is helping advisors scale faster, and why only 8% are tapping into niche marketing (a major growth opportunity!). Whether you're refining your client acquisition strategy or scaling your practice, this report gives you the real-world data, benchmarks, and action ste
Two new players enter the RIA space; Baird adds a bank team with half a billion in assets; and Creative Planning and Focus Financial both make big announcements.
August 2023 How major asset classes performed in August 2023. (capitalspectator.com) A summary of S&P Dow Jones index returns in August 2023. (on.spdji.com) Rates The bond market is completely different that it was a year ago. (awealthofcommonsense.com) U.S Treasury bonds are no track for their third straight year of losses. (markets.businessinsider.com) Companies How retailers have responded to the post-pandemic era.
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that the Massachusetts Supreme Judicial Court ruled that the state's fiduciary rule for broker-dealers can stand, potentially opening the door for other states to impose similar standards that exceed the requirements of the Securities and Exchange Commission's Regulation Best Interest rule.
From the BLS : Total nonfarm payroll employment increased by 187,000 in August, and the unemployment rate rose to 3.8 percent , the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in health care, leisure and hospitality, social assistance, and construction. Employment in transportation and warehousing declined. The change in total nonfarm payroll employment for June was revised down by 80,000, from +185,000 to +105,000, and the change for July was revised down by
Hey, it’s September! Kick off the new month with our end-of-week 3-day weekend reads: • Rates Are Up. We’re Just Starting to Feel the Heat. Homeowners. Car buyers. Landlords. Big businesses. Here’s who stands to lose—and in some surprising cases, win—as interest rates stay high in the years ahead. ( Wall Street Journal ) • Little evidence that a spot bitcoin ETF would expand the market : BlackRock’s application and Grayscale’s court victory stirred the crypto world, but such investment veh
Speaker: Claire Grosjean, Global Finance & Operations Executive
Finance teams are drowning in data—but is it actually helping them spend smarter? Without the right approach, excess spending, inefficiencies, and missed opportunities continue to drain profitability. While analytics offers powerful insights, financial intelligence requires more than just numbers—it takes the right blend of automation, strategy, and human expertise.
Wards Auto released their estimate of light vehicle sales for August: August U.S. Light-Vehicle Sales Rise but Miss Expectations (pay site). Lean inventory, elevated prices and lukewarm incentives, combined with rising interest rates, could be keeping more buyers out of the market. Some could be waiting for more deals which often was the case in the summer months in most years prior to the pandemic’s start in 2020, as automakers and dealers offloaded excess inventory before widespread availabili
September is Life Insurance Awareness Month, a 20-year tradition created and coordinated by NAIFA partner Life Happens and commemorated by the entire life insurance industry, elected officials , and consumers across the country. The goal of LIAM is to put the importance of life insurance front-of-mind for a greater number of Americans and help more people get the coverage they need so their loved ones are protected financially.
From BofA (last week estimate): Altogether, this decreased our 2Q GDP tracking estimate by one-tenth to 2.4% q/q saar (seasonally adjusted annual rate) and increased it by a one-tenth for 3Q to 2.8% q/q saar [Aug 24th estimate] emphasis added From Goldman: We boosted our Q3 GDP tracking estimate by one tenth to +2.9% (qoq ar) and our Q3 domestic final sales growth forecast by the same amount to +2.8%.
Rob Isbitts at ETF.com says Jerome Powell’s speech at Jackson Hole is bad news for 60/40 investors: For nearly two decades, investment advisors and self-directed investors came to understand and appreciate “asset allocation” as a complementary combination of stocks and bonds. When rates were falling, bond prices were rising and the stock market was driving higher in those easier credit conditions, that c.
Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.
Today, in the Calculated Risk Real Estate Newsletter: Freddie Mac House Price Index Increased in July to New High; Up 2.9% Year-over-year; Black Knight Index Hits New High, but "Mixed signals" A brief excerpt: On a year-over-year basis, the National FMHPI was up 2.9% in July, from up 1.6% YoY in June. The YoY increase peaked at 19.2% in July 2021. In July, 14 states and D.C. were below their previous peaks, Seasonally Adjusted.
The S&P 500 rallied most of the week but finished August in the red. The index rose 2.50% from last Friday, marking two consecutive weekly gains. The index is currently up 18.09% year to date and is 5.85% below its record close from January 3, 2022.
(Posted with permission). The ISM manufacturing index indicated contraction. The PMI® was at 47.6% in August, up from 46.4% in July. The employment index was at 48.5%, up from 44.4% the previous month, and the new orders index was at 46.8%, down from 47.3%. From ISM: Manufacturing PMI® at 47.6% August 2023 Manufacturing ISM® Report On Business® Economic activity in the manufacturing sector contracted in August for the 10th consecutive month following a 28-month period of growth, say the nation's
Fundamental Analysis of Talbros Automotive: India has one of the world’s fastest-growing economies. This rapid growth, combined with rising incomes, greater infrastructure spending, and increased manufacturing incentives, has boosted the vehicle sector, resulting in the expansion of the auto component business. Some successful investors, such as Vijay Kedia and Dolly Khanna, have chosen to keep their investment in a particular stock in this industry.
Automation is transforming finance but without strong financial oversight it can introduce more risk than reward. From missed discrepancies to strained vendor relationships, accounts payable automation needs a human touch to deliver lasting value. This session is your playbook to get automation right. We’ll explore how to balance speed with control, boost decision-making through human-machine collaboration, and unlock ROI with fewer errors, stronger fraud prevention, and smoother operations.
Full exposure to domestic equities. Full exposure to international equities. No exposure to REITs. Partial exposure to commodities. No exposure to intermediate-term bonds. DIY Trend-Following Allocations: September 2023 was originally published at Alpha Architect. Please read the Alpha Architect disclosures at your convenience.
I’ve previously referred to the current interest rate structure in the banking system as a “golden guillotine” That is, while low interest rates are “golden handcuffs” for borrowers who locked in long duration short rates, the counterparty to this trade is sitting in a golden guillotine as they earn a very low rate of interest on a long duration loan that they now need to trade to someone else at a huge loss.
The Institute for Supply Management (ISM) manufacturing purchasing managers index (PMI) rose to 47.6 in August. The latest figure marks the tenth consecutive month the index has been in contraction territory after a 29-month period of growth dating back to June 2020. The August reading was above the forecast of 47.0.
Open enrollment is just around the corner for many of our clients, so we’re gearing up to help them choose their company benefits. This is one of the ways we save our clients the most money: by revamping their company benefits. Maybe you chose your company benefits a few years ago and haven’t looked at them since. Well, I highly encourage you to pull out that giant booklet and start reading.
Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.
The Federal Reserve has a “ dual mandate ” designed to “foster economic conditions that achieve both stable prices and maximum sustainable employment.” The “dual mandate” is obviously a moving target, but it appears for now, based on the Fed’s explicit goals, Fed Chairman, Jerome Powell, has accomplished the central bank’s mission. More specifically, inflation, according to the just-reported BEA’s (Bureau of Economic Analysis) GDP Price Deflator statistics, has plummeted dramatically to the Fe
The August S&P Global US Manufacturing PMI™ fell to 47.9 from 49.0 in July, signaling a stronger downturn in operating conditions. The August reading was higher than the expected 47.0 reading.
We’ve all heard the latest news about China’s economic slow-down. Discover what Carson Group’s Chief Market Strategist Ryan Detrick and VP, Global Macro Strategist Sonu Varghese have to say about the headlines. Highlights include: Just how much is China’s economy slowing down? Will China’s economic troubles hurt the U.S. economy? What is China doing (and not doing) to improve their economy?
Like being inches from the end zone, many advisors are frustratingly close to their next level of success. You work hard. You put in the hours. But if your closing rate is stuck or your pipeline feels like a revolving door… something has to change. Most advisors are just one small shift away from dramatically increasing their revenue. The difference?
There is a general belief that there are four big indicators that the NBER Business Cycle Dating Committee weighs heavily in their cycle identification process. This commentary focuses on one of those indicators, nonfarm employment. August saw a 187,000 increase in total non-farm payrolls and the unemployment rate rose to 3.8%. The forecast was for 170,000 jobs gained and for the unemployment rate to hold steady at 3.5%.
The biz For some people podcasts have been the soundtrack of their everyday lives. (washingtonpost.com) The top 10 podcasts for CEOs in 2023 including 'How I Built This.' (readwrite.com) Ten of the best science and technology podcasts including 'Science Vs.' (newscientist.com) Five evergreen podcasts including 'Gastropod.' (readtrung.com) Finance Barry Ritholtz talks with Vanguard's CIO Greg Davis.
The US Securities and Exchange Commission delayed making a decision again on whether to approve the first US exchange-traded fund that invests directly in Bitcoin, disappointing advocates just days after a court ruling viewed by many as clearing a path for the long-awaited product.
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Due to changes at the CDC, weekly cases are no longer updated. After the first few weeks, the pandemic low for weekly deaths had been the week of July 7, 2021, at 1,690 deaths (until recently). Recently hospitalizations have more than doubled from a low of 5,150 in June 2023.
Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.
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