Markets with Megan: A Two-Minute Financial Markets Update Megan Horneman

Discover the economic ripples that follow when core inflation metrics stubbornly defy expectations. Megan Horneman, Chief Investment Officer at Verdence Capital Advisors, critically analyzes the latest persistently high core PCE inflation reading, revealing a challenging landscape for the Federal Reserve and the broader economy. With a 2.8% increase clashing with anticipated figures and personal spending outstripping income growth, Megan dissects the precarious balance between consumer behavior and the potential for future interest rate hikes.

With the savings rate slipping to a disquieting 3.2%, Megan discusses the impact of elevated energy prices on inflation and market volatility. As spending trends towards non-durable goods, we consider the implications for fiscal policy and the stock market's tepid response. Join us as we unpack the complexities of economic indicators with Megan's guidance and prepare for our next episode, where we discuss the effects of the upcoming quarterly treasury refunding announcement.

https://youtu.be/SMb2NV2BAqs
Disclaimer: material was prepared by Verdence Capital Advisors, LLC (“VCA”). VCA believes the information and data in this document were obtained from sources considered reliable and correct and cannot guarantee either their accuracy or completeness. VCA has not independently verified third-party sourced information and data. Any projections, outlooks
or assumptions should not be construed to be indicative of the actual events which will occur. These projections, market outlooks or estimates are subject to change without notice. This material is being provided for informational purposes only and is not intended to provide, and should not be relied upon for, investment, accounting, legal, or tax advice. Past performance is not a guarantee of future results. Different types of investments involve varying degrees of risk, and there can be no assurance
that the future performance of any specific investment, investment strategy, or product or anynon-investment related content, made reference to directly or indirectly in these materials will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. You should not assume that any
discussion or information contained in this report serves as the receipt of, or as a substitute for, personalized investment advice from VCA. Due to various factors, including changing market conditions and/or applicable laws, the co...

Discover the underlying factors that turned the stock market on its head with Megan Horneman, Chief Investment Officer for Verdence Capital Advisors, as she analyzes the latest GDP report in our segment, Markets with Megan. The forecasted economic growth of 2.5% fell short at 1.6%, and Megan dissects the contributing factors, from a significant contraction in net exports to a slowdown in inventory changes. The report's impact didn't stop at disappointing numbers; it sent investors into a frenzy, spiraling into a sell-off and escalating bond yields. Inflation rates rose to a troubling 3.7%, signaling that the Fed's next moves could lean towards hikes rather than anticipated rate cuts.

As Megan navigates the complexities of this economic data, she sheds light on the shift from goods to service-based spending and the potential for a persistently high inflation environment. The pressure is mounting in financial services and insurance, where the Fed's control is limited yet directly impacts consumers. With long-term bond yields reaching 4.75% and speculation about delaying Fed fund rate cuts, the market's optimism from the previous quarter seems to have hit a wall.

https://youtu.be/qm2-wShwAOQ


Disclaimer: material was prepared by Verdence Capital Advisors, LLC (“VCA”). VCA believes the information and data in this document were obtained from sources considered reliable and correct and cannot guarantee either their accuracy or completeness. VCA has not independently verified third-party sourced information and data. Any projections, outlooks
or assumptions should not be construed to be indicative of the actual events which will occur. These projections, market outlooks or estimates are subject to change without notice. This material is being provided for informational purposes only and is not intended to provide, and should not be relied upon for, investment, accounting, legal, or tax advice. Past performance is not a guarantee of future results. Different types of investments involve varying degrees of risk, and there can be no assurance
that the future performance of any specific investment, investment strategy, or product or anynon-investment related content, made reference to directly or indirectly in these materials will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. You should not assume that any
discussion or information contained in this report serves as the receipt of, or as a substitute for, personalized investment advice from VCA. Due to various factors, including changing market conditions and/or applicable laws, the co...

In this week's Markets With Megan episode, Megan Horneman, Chief Investment Officer at Verdence Capital Advisors, dives into the highly anticipated first-quarter earnings season. As the earnings season kicks off, Megan discusses the expected growth rate of 0.5% on a year-over-year basis, the slowest quarter of growth since the end of the earnings recession. 📈

This week is crucial as several tech giants, including a few of the "Magnificent Seven," are set to report earnings. These mega-cap tech companies' reports are significant. Without their earnings, the S&P 500 would actually see a decline in earnings on a year-over-year basis.

For a more in-depth look at our full report on the earnings season, go to our website under the "Weekly Insights" section. 📊

Subscribe to our channel for regular updates and analysis from Megan Horneman and the Verdence Capital Advisors team. 🔔

https://youtu.be/rXO1PX7oHBA


Disclaimer: material was prepared by Verdence Capital Advisors, LLC (“VCA”). VCA believes the information and data in this document were obtained from sources considered reliable and correct and cannot guarantee either their accuracy or completeness. VCA has not independently verified third-party sourced information and data. Any projections, outlooks
or assumptions should not be construed to be indicative of the actual events which will occur. These projections, market outlooks or estimates are subject to change without notice. This material is being provided for informational purposes only and is not intended to provide, and should not be relied upon for, investment, accounting, legal, or tax advice. Past performance is not a guarantee of future results. Different types of investments involve varying degrees of risk, and there can be no assurance
that the future performance of any specific investment, investment strategy, or product or anynon-investment related content, made reference to directly or indirectly in these materials will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. You should not assume that any
discussion or information contained in this report serves as the receipt of, or as a substitute for, personalized investment advice from VCA. Due to various factors, including changing market conditions and/or applicable laws, the co...

With the latest home sales data, we saw March's unexpected slide in existing home sales that has everyone talking, and we're breaking down the nuances that could change your perspective on the housing market. As spring selling season kicks off, it's not all doom and gloom; we've spotted some bright spots, including a much-needed increase in housing supply. In this episode, we analyze the regional sales fluctuations, the uptick in median home prices after months of decline, and how these factors play into the Fed's approach to inflation and interest rates.

While the Northeast saw a spike in sales, the rest of the country grapples with affordability as mortgage rates and prices climb. We look at stubborn housing price pressures that continue to affect the economy.

https://youtu.be/R-ESadqGD0E
Disclaimer: material was prepared by Verdence Capital Advisors, LLC (“VCA”). VCA believes the information and data in this document were obtained from sources considered reliable and correct and cannot guarantee either their accuracy or completeness. VCA has not independently verified third-party sourced information and data. Any projections, outlooks
or assumptions should not be construed to be indicative of the actual events which will occur. These projections, market outlooks or estimates are subject to change without notice. This material is being provided for informational purposes only and is not intended to provide, and should not be relied upon for, investment, accounting, legal, or tax advice. Past performance is not a guarantee of future results. Different types of investments involve varying degrees of risk, and there can be no assurance
that the future performance of any specific investment, investment strategy, or product or anynon-investment related content, made reference to directly or indirectly in these materials will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. You should not assume that any
discussion or information contained in this report serves as the receipt of, or as a substitute for, personalized investment advice from VCA. Due to various factors, including changing market conditions and/or applicable laws, the co...

In this episode, Megan examines the recent decline in the leading economic indicator index for March, which may be signaling a recession. This index has pointed to negative growth in 24 out of the last 25 months, a pattern that has often preceded economic downturns in the past.
Megan explores the various factors contributing to this trend, such as a decrease in building permits and a slowdown in orders for non-defense capital goods. Despite these concerns, consumer spending has remained strong, providing some support to the economy.
Although the economic outlook appears challenging, the stock market and leading credit index show some positive signs.

https://youtu.be/iK_77mxwQwM
Disclaimer: material was prepared by Verdence Capital Advisors, LLC (“VCA”). VCA believes the information and data in this document were obtained from sources considered reliable and correct and cannot guarantee either their accuracy or completeness. VCA has not independently verified third-party sourced information and data. Any projections, outlooks
or assumptions should not be construed to be indicative of the actual events which will occur. These projections, market outlooks or estimates are subject to change without notice. This material is being provided for informational purposes only and is not intended to provide, and should not be relied upon for, investment, accounting, legal, or tax advice. Past performance is not a guarantee of future results. Different types of investments involve varying degrees of risk, and there can be no assurance
that the future performance of any specific investment, investment strategy, or product or anynon-investment related content, made reference to directly or indirectly in these materials will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. You should not assume that any
discussion or information contained in this report serves as the receipt of, or as a substitute for, personalized investment advice from VCA. Due to various factors, including changing market conditions and/or applicable laws, the co...

In this episode, Megan discusses the latest economic data impacting the housing market. Despite hopes of stabilization, higher interest rates are once again disrupting the housing sector. There has been a significant 14.7% drop in housing starts—the largest since April 2020—in both single and multifamily housing units. There has also been a 4.3% decline in building permits, especially for single-family homes, raising concerns for future construction. With mortgage rates exceeding 7% for two consecutive months, there are mounting challenges facing the housing market. Stay connected for more market updates and analysis from Megan and the team at Verdence Capital Advisors.

https://youtu.be/vngQ_qNmq9c
Disclaimer: material was prepared by Verdence Capital Advisors, LLC (“VCA”). VCA believes the information and data in this document were obtained from sources considered reliable and correct and cannot guarantee either their accuracy or completeness. VCA has not independently verified third-party sourced information and data. Any projections, outlooks
or assumptions should not be construed to be indicative of the actual events which will occur. These projections, market outlooks or estimates are subject to change without notice. This material is being provided for informational purposes only and is not intended to provide, and should not be relied upon for, investment, accounting, legal, or tax advice. Past performance is not a guarantee of future results. Different types of investments involve varying degrees of risk, and there can be no assurance
that the future performance of any specific investment, investment strategy, or product or anynon-investment related content, made reference to directly or indirectly in these materials will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. You should not assume that any
discussion or information contained in this report serves as the receipt of, or as a substitute for, personalized investment advice from VCA. Due to various factors, including changing market conditions and/or applicable laws, the co...