Good morning!

Stocks extended losses Monday from their worst week in six months amid renewed recession risks tied to President Trump's tariff and jobs-cut policies. Here's what's happening this week ...

• More than 500 companies are helping to close Q4 earnings season this week. This morning, earnings are due from Dick's Sporting Goods and Casey's General Stores, followed Wednesday by Adobe, Lennar Homes, American Eagle Outfitters, and the newest member of the S&P 500, Williams-Sonoma. Thursday numbers are due from Dollar General, Ulta Beauty, and DocuSign, followed Friday by EV automaker Li Auto, WeRide, and GoGo Inc. *

• February CPI (Consumer Price Index) data is released Wednesday. Core CPI (excluding food and energy) is expected to increase by 0.3% month-over-month—below January's 0.4% increase—while the annual core CPI is forecast to decrease to 3.2% from 3.3% in January. Analysts also expect headline CPI inflation to increase 0.3% month-over-month (well below January's 0.5% rise) while annual number is expected to decrease to 2.9% from 3%. That's good news if these numbers pan out, but inflation remains well above the Fed's 2% target. **

• The rough start to the week on Wall Street seems to be stoked by concerns about the U.S. economy sliding toward recession. During a Fox News interview over the weekend, President Trump refused to rule out that possibility, indicating there will be a "period of transition, because what we're doing is very big." On the other hand, Commerce Secretary Howard Lutnick (awkwardly) told NBC News, "There's going to be no recession in America." The mixed posturing appeared to rattle investors, with Tesla stock tumbling more than 15% Monday and shares of the other Magnificent Seven stocks--Apple, Microsoft, Alphabet, Amazon, Nvidia, and Meta—falling more than 3%. ***

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...

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.