Weekly Headings

August 18, 2023

Hello Intentional Community!

It’s Friday again, which means another edition of the Weekly Headings.   This week Larry Adam pours over Second Quarter S&P 500 earnings results (with 90% reporting) and reflects on what the data analysis reveals:

• The Energy Sector skews the data, as its earnings are down ~40%.   The remainder of the S&P 500 actually shows earnings up ~3% in the same period
• Consumer resilience is waning, even though summer travel has been at record highs.  With student loan repayments set to resume this Fall and schools soon or already back in session, retailers are seeing consumer spending on focused needs and value priced items as household budgets are squeezed
• Mr. Adam contends that while a potential mild recession in late 2023 and into early 2024 is still possible, financials remain healthy as banking concerns have eased with the biggest banks displaying rigor through the Federal Reserve’s increased scrutiny.    

We are happy to provide these market updates to you each week and hope that you see some value in staying abreast of the latest developments.  What we hope for more is that our Intentional community can translate these details to what or who matters most in your lives.   We stand by to continue to serve you!

Until next week…