Kenny starts by analyzing the ripple effects of the longshoremen’s unprecedented 61.5% pay hike. What does this mean for the economy and inflation? He explains how the unresolved language around automation will shape future negotiations and highlights the potential inflationary consequences of this wage increase as part of the classic wage-price spiral theory.

Kenny discusses the growing geopolitical uncertainty as Israel ponders its next steps in response to the latest Iranian aggression. With oil prices surging over 5%, we’ll explore what the market might do next based on developments over the weekend and the US’s position on global energy supplies. Kenny also dissects President Joe's comments on supporting Israeli actions, as well as the delicate balance the administration faces in this complex scenario.

Today, all eyes are on the non-farm payroll report. Kenny breaks down the numbers, expectations, and implications for the Fed’s next moves. A strong job report could take rate cuts off the table, while a weaker figure may lead to more aggressive easing. He explains how this data fits into the broader economic picture, including the PMI and factory orders, and what it means for the market heading into next week’s earnings season.

 

General Disclosures

Information and commentary provided by ButcherJoseph Asset Management, LLC (“BJAM”), are opinions and should not be construed as facts. The market commentary is for informational purposes only and should not be deemed as a solicitation to invest or increase investments in BJAM products or the products of BJAM affiliates. The information contained herein constitutes general information and is not directed to, designed for, or individually tailored to, any particular investor or potential investor. This report is not intended to be a client-specific suitability analysis or recommendation, an offer to participate in any investment, or a recommendation to buy, hold or sell securities. Do not use this report as the sole basis for investment decisions. Do not select an asset class or investment product based on performance alone. Consider all relevant information, including your existing portfolio, investment objectives, risk tolerance, liquidity needs and investment time horizon. There can be no guarantee that any of the described objectives can be achieved. BJAM does not undertake to advise you of any change in its opinions or the information contained in this report. Past performance is not a guarantee of future results. Information provided from third parties was obtained from sources believed to be reliable, but no reservation or warranty is made as to its accuracy or completeness.

Different types of investments involve varying degrees of risk and there can be no assurance that any specific investment will be profitable. The price of any investment may rise or fall due to changes in the broad markets or changes in a company’s financial condition and may do so unpredictably. BJAM does not make any representation that any strategy will or is likely to achieve returns similar to those shown in any performance results that may be illustrated in this presentation. There is no assurance that a portfolio will achieve its investment objective.

Definitions and Indices

The S&P 500 Index is a stock market index based on the market capitalization of 500 leading companies publicly traded in the U.S. stock market, as determined by Standard & Poor’s.

UNLESS OTHERWISE NOTED, INDEX RETURNS REFLECT THE REINVESTMENT OF INCOME DIVIDENDS AND CAPITAL GAINS, IF ANY, BUT DO NOT REFLECT FEES, BROKERAGE COMMISSIONS OR OTHER EXPENSES OF INVESTING. INVESTORS CAN NOT MAKE DIRECT INVESTMENTS INTO ANY INDEX.

BJAM is an investment advisor registered in North Carolina and Arizona. Such registration does not imply a certain level of skill or training. BJAM’s advisory fee and risks are fully detailed in Part 2 of its Form ADV, available upon request.

Recommended Content


Recommended Content

Editors’ Picks

EUR/USD breaks below 1.1000 on stellar NFP

EUR/USD breaks below 1.1000 on stellar NFP

The buying bias in the Greenback gathers extra pace on Friday after the US economy created far more jobs than initially estimated in September, dragging EUR/USD to the area of new lows near 1.0950.

EUR/USD News
GBP/USD breaches 1.3100 after encouraging US Payrolls

GBP/USD breaches 1.3100 after encouraging US Payrolls

The continuation of the uptrend in the US Dollar motivates GBP/USD to accelerates its losses and breaches 1.3100 the figure in the wake of the release of US NFP.

GBP/USD News
Gold rebounds from daily lows and flirts with $2,670

Gold rebounds from daily lows and flirts with $2,670

Following a post-NFP dip to the $2,640 region, Gold prices now embarks on an acceptable rebound and retest the area of $2,670 per ounce troy despite the marked advance in the US Dollar and rising US yields across the board.

Gold News
US Payrolls surge in September, as 50bp rate cut ruled out

US Payrolls surge in September, as 50bp rate cut ruled out

US payrolls data surprised on the upside in September, rising by 254k, smashing expectations of a 150k rise. The unemployment rate fell to 4.1% from 4.2%, average hourly earnings increased to a 4% YoY rate and there was a 72k upwards revision to the previous two months’ payrolls numbers.

Read more
RBA widely expected to keep key interest rate unchanged amid persisting price pressures

RBA widely expected to keep key interest rate unchanged amid persisting price pressures

The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.

Read more
Five best Forex brokers in 2024

Five best Forex brokers in 2024

VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals. 

Read More

Majors

Cryptocurrencies

Signatures