The Lowry Letter®

Week of 8/31/2024

We hope you have an enjoyable Labor Day Weekend! The holiday has an interesting history, stemming from the 1800’s and intended to honor the worker for their contribution to society.

If you are grilling this weekend, this reverse seared flank steak can’t miss.

Every once in a while, we need a good laugh. This Saturday Night Live sketch from a few years back is a favorite, and for some reason is only available on the web and not YouTube. We hope you enjoy it!

According to CNN, the Dallas Cowboys are the first professional sports team to be worth $10 BILLION. Jerry Jones paid $140 million for the team in 1989. The Compound Annual Growth Rate of the principal amount invested is about 13%. Of course, this doesn’t include all of the income he has received each year from team operations.

The estimated value of the packages stolen from American porches is $8 billion (Marketwatch)!

Have you ever seen an oarfish? They are strange-looking and rare, and a dead one was recently found near San Diego. It is a nice opportunity for researchers to study the uncommon fish.

We were genuinely surprised to learn that Apple seeds do not yield the same apple that they came from. Apple seeds are genetically different from their parent tree, which means that things like tree size, hardiness, and fruit quality will differ.

Q: I saw that the employment numbers were recently revised downward. Is this a sign of more job troubles to come?

A: Employment data revisions are pretty normal, but the magnitude of this revision was unusually large. It does not mean the stats were being cooked, and we don’t know exactly why the date was so off this time.

The number of new jobs in the period in question was still large, even with the reduction. But it IS clear that the job market is cooling. This provides more support for a September rate cut, which was expected anyway.

If rates are cut, even by a small amount, we can expect the interest on savings accounts to decline. In many cases, we are seeing those decreases in forward looking instruments like CDs.

We don’t know if the job market will continue to weaken, but it is something to watch.

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Advisory Services offered through Lowry Financial Advisors, Inc., a Registered Investment Adviser. Securities and additional advisory services offered through Commonwealth Financial Network®, Member FINRA/SIPC, a Registered Investment Adviser. Advisory services offered through Lowry Financial Advisors, Inc, are separate and unrelated to Commonwealth. Lowry Financial Advisors, Inc. is located at 12921 SW 1st Rd, Suite 215, Tioga, FL 32669. 352-333-7990

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