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Good morning!
Hello March and good riddance February! Stocks Monday were extending declines from the worst February slump in three years, with the S&P 500 now up less than 1% for the year and the Nasdaq down nearly 3% since Jan. 2. Economic-growth concerns, tied to both a pullback in consumer spending and tariffs on imports from Canada, Mexico and China, are adding to the market's malaise. Here's what's happening this week ...
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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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More than 600 companies report Q4 earnings this week, including a handful from big-name retail and consumer service sectors. This morning, earnings are due from CrowdStrike, AutoZone, Target, Ross Stores, and Best Buy, followed Wednesday by Marvell Technology, Zscaler, and MongoDB. Thursday numbers are up for Broadcom, Costco, JD.com, Kroger Company, and Hewlett Packard Enterprise, followed Friday by WeRide and Genesco. *
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The U.S. jobs report for February is released Friday, and estimates are for the economy to have added 143,000 new jobs, with the unemployment rate holding steady at 4%. Any big deviation from the forecast would most likely shake up the markets, but any impact from the DOGE (Department of Government Efficiency) layoffs will probably not show up until March. **
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On Monday, we got some data showing that manufacturing slowed down in February. Costs went up, jobs took a hit, and Trump's tariff policies didn’t help matters. The Institute for Supply Management reported that their manufacturing PMI dropped to 50.3 in February, down from January’s 50.9. Economists had predicted 50.7, so it came in a little lower than expected. For context, PMI readings over 50 mean the sector is growing, while anything below 50 signals it's shrinking. At the same time, the prices paid index jumped to 62.4, up from 54.9 in January—its highest level since July 2022—which means company costs are still climbing. Meanwhile, the employment index slipped into contraction territory, falling to 47.6 from January's 50.3. This all took a toll on the markets. After the data came out, stocks hit their lows for the day, with the Nasdaq Composite falling the hardest, briefly dropping about 1% before recovering some ground. ***
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The financial advisors at Miramontes Capital diligently keep up with anything that can impact our clients' finances and tap into more than 175 years of combined investment experience. We do our all to keep your money protected and growing. If you think you might benefit from our financial experience and oversight, contact us today for a FREE, no-obligation consultation. Just call (800) 460-1595. Until next week... | | |
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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. | | | | |
