New Series: Backseat Ballers — Now on YouTube
We kick off this week with a quick reminder to check out our new video series, Backseat Ballers, where Elliot picks up Kansas City business owners and interviews them while driving around town. Each episode dives deep into life, adversity, and entrepreneurship — with real stories and raw conversations.
Labor Market Rebounds After ADP Miss
Markets remain strong heading into mid-July, shrugging off last week’s ADP report, which showed a surprise loss of 33,000 private-sector jobs in June.
The narrative shifted quickly on Friday, when the Bureau of Labor Statistics (BLS) reported that 147,000 jobs were added — well above expectations. The stronger-than-expected BLS data points to continued resilience in the labor market, helping support consumer sentiment and equity momentum.
Full Reinvestment Complete, but Volatility Still on Radar
With solid economic data and positive market momentum, we’ve now fully reinvested all client portfolios into the market.
That said, some near-term volatility is expected as global trade negotiations evolve. Investors are closely watching developments on the tariff front, with August 1st marking the end of the 90-day tariff pause. Among the new measures: a 35% tariff on Canadian imports, which could have ripple effects across select sectors.
September Fed Rate Cut in Focus
Looking ahead, investor attention is turning to the Federal Reserve. A growing number of market participants now expect a rate cut in September, which would likely serve as a tailwind for equities.
We’ll continue monitoring inflation, employment, and Fed commentary closely — and will keep you informed as key data points emerge.