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Good morning!
After a solidly bullish week for stocks, Monday markets retreated, then recovered, after digesting last Friday's downgrade of the U.S. credit rating from Moody's, a global credit rating agency. Here's what's happening this week...
| | | | Have cash or cash equivalents earning nothing or next-to nothing? It's a great time to invest in U.S. Treasury Bills, a short-term investment with little risk and easy liquidity. We'll post current rates of return here each Tuesday. Want to put your money to work? Call a Miramontes Capital advisor today! | | |
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Q1 earnings season continues with a focus on retailers this week. This morning, reports are due from Home Depot, Palo Alto Networks, and Keysight Technologies, followed Wednesday by TJ Maxx, Lowe's Companies, Target, Medtronic, and Zoom Communications. Thursday numbers are up for Intuit, Ross Stores, and Autodesk, followed Friday by Booz Allen Hamilton. *
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Walmart recently found itself in the crosshairs of President Donald Trump after announcing that customers should expect higher prices due to tariffs. Trump wasn't pleased and took to his Truth Social platform to express his frustration, urging Walmart to absorb the costs instead of passing them on to consumers. In response, Walmart has agreed to shoulder some of the tariff burden, similar to what they did during Trump's first term. Treasury Secretary Scott Bessent confirmed this after a conversation with Walmart CEO Doug McMillon. Despite the pressure, Walmart emphasized its commitment to keeping prices as low as possible, even though their profit margins are tight. This development comes as other major retailers like Target and Home Depot are also preparing to report their earnings and potentially discuss the impact of tariffs on their pricing. **
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On Thursday, we'll get the latest Purchasing Managers' surveys for May, which will give us a fresh look at how the U.S. manufacturing and services sectors are doing. The PMI (Purchasing Managers' Index) is a key indicator of the economic health of the manufacturing sector, showing whether it's growing, stable, or declining. So far, most official U.S. data suggest that the economy is holding up pretty well. However, these numbers are a bit outdated and don't fully reflect the impact of President Trump's widespread tariffs announced on April 2. While some of the steep tariffs have been reduced, tariffs of 10% or more are still quite high compared to recent history. ***
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| | | Investment Advisory Services offered through Miramontes Capital, LLC. Securities offered through Balanced Security Planning, Inc. Member FINRA/SIPC. Miramontes Capital, LLC and Balanced Security Planning, Inc. are separate companies affiliated through common control. This newsletter is solely for informational purposes. Advisory services are only offered to clients or prospective clients where Miramontes Capital, LLC and its representatives are properly licensed or exempt from licensure. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be rendered by Miramontes Capital, LLC unless a client service agreement is in place. | | | | |
