The Elliot Omanson Show

Elliot Omanson

Markets. Politics. Entrepreneurship. Honest conversations about what’s really happening and why it matters. Elliot Omanson — host of Backseat Ballers and The Elliot Omanson Show.

  1. 6D AGO

    Introducing Glen Omanson: Tax Preparation & Planning Now Included for OWLFI Clients

    Elliot is introducing his brother, Glen Omanson of United Team Tax, who will now provide individual tax preparation and proactive, year-round tax planning for OWLFI clients as part of your ongoing relationship with the firm. Glen has been in the financial services industry since 2009 and holds the IRS's highest credential, Enrolled Agent (EA). His expertise focuses exclusively on individual taxation. Throughout his career—including time at institutions such as JP Morgan and Wells Fargo—he saw firsthand how investment advice was often given without proper tax coordination. His approach is different: he works proactively with clients to evaluate the tax impact of financial decisions before they are made, with the goal of reducing long-term tax liability and avoiding costly surprises. This update replaces the previous $100 monthly service fee and integrates individual tax preparation directly into our service model for clients with standard individual returns. For those with more complex needs—such as business entities, extensive real estate holdings, oil and gas investments, trusts, or corporate returns—we will continue coordinating with specialized professionals in those areas. To get started, Glen will typically request a copy of your 2024 tax return for review and comparison. From there, you can upload your 2025 documents through a secure online portal. Communication is simple and flexible, whether through the portal, email, text, or Zoom meetings. Everything is designed to be organized, efficient, and seamless.

    19 min
  2. FEB 20

    Murphy's Market Minute | February 20, 2026

    U.S. stocks are positive for the week with the major indices in the green as of Friday, as investors digested mixed economic data and a notable legal development on trade policy. The Supreme Court struck down broad tariff authority in a ruling this week, reducing the risk of sweeping new trade measures and providing a modest boost to investor sentiment. On the economic front, fourth-quarter GDP was revised to 1.4% annualized, sharply below the prior quarter’s 4.4% pace and under expectations near 2.5–2.8%, underscoring moderating economic momentum. Inflation data came in firmer than forecast. The PCE price index rose 0.4% month-over-month in December, above expectations of 0.3%, while Core PCE also increased 0.4%, bringing the year-over-year core rate to 3.0% — still well above the Federal Reserve’s 2% target. Persistent inflation continues to complicate the timeline for potential rate cuts. Labor market data remained solid, with initial jobless claims at 206,000 for the week ended February 14, below expectations and indicative of ongoing employment strength. Industrial production rose 0.7% in January, beating forecasts, and February flash PMIs remained in expansion territory, with manufacturing at 51.2 and services at 52.3, signaling continued, though modest, economic activity. Taken together, the data reflect an economy that is cooling but not contracting. Markets have responded positively this week as trade uncertainty eased and economic data suggested resilience, though inflation remains high enough to keep the Federal Reserve cautious.

    7 min
  3. FEB 13

    Murphy's Market Minute | February 13, 2026

    This week’s focus centered on the January employment report and the latest inflation data, both of which play a critical role in shaping Federal Reserve policy expectations. The labor market remains stable. The economy added 130,000 jobs, well above expectations, while the unemployment rate held steady at 4.3%. Average hourly wages rose 0.4% month over month and are up 3.7% year over year, signaling continued strength without clear signs of overheating. A steady employment environment supports ongoing economic expansion and reduces immediate pressure on the Federal Reserve to ease policy. Inflation data showed continued but gradual progress. Headline CPI increased 0.2% for the month, bringing year-over-year inflation down to 2.4%. Core CPI rose 0.3% month over month and stands at 2.5% year over year, still slightly above the Fed’s 2% target. While the overall trend remains constructive, the data does not yet justify an accelerated shift toward rate cuts. Adding broader context, recent GDP growth came in at a strong 4.4% annualized rate, reinforcing the strength of consumer spending and overall economic activity. With growth solid, employment steady, and inflation moderating but not fully cooled, the Federal Reserve has flexibility to remain patient. Following this week’s data, expectations for near-term rate cuts eased slightly. The Fed’s most recent projections suggest roughly one rate reduction later this year and modest easing into 2026, but the timing will remain dependent on continued progress in inflation. Markets reacted cautiously, with major indices finishing lower from last Friday’s close as investors recalibrated rate expectations rather than responding to economic weakness.

    12 min
  4. FEB 9

    Murphy's Market Minute | February 6, 2026

    Equity markets experienced early-week pressure, concentrated in large-cap technology, as investors assessed elevated AI-related capital spending and its potential impact on margins and growth durability. The S&P 500 and Nasdaq weakened mid-week amid uneven sector performance, while small-cap stocks showed relative resilience as the week progressed. Markets stabilized toward week’s end as selling pressure eased and participation broadened modestly, allowing major indexes to recover from intra-week lows. The Russell 2000 outperformed broader benchmarks for the week, reflecting continued rotation away from mega-cap growth and toward more economically sensitive areas. On the economic front, the ISM Manufacturing PMI for January rose to 52.6, returning to expansion territory for the first time in a year and exceeding expectations. Strength in new orders and production pointed to improving activity following a prolonged period of contraction. Labor data suggested gradual cooling rather than deterioration. December job openings declined to approximately 6.5 million, marking a multi-year low and indicating softer hiring demand. Initial jobless claims increased to 231,000 but remain within a range consistent with a historically stable labor market. Investors continue to monitor upcoming labor reports for further confirmation of trend direction. Treasury yields remained elevated overall, though they eased modestly later in the week as equity markets stabilized. Rate expectations continue to reflect a cautious Federal Reserve stance, with limited near-term policy easing currently priced in.

    9 min

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About

Markets. Politics. Entrepreneurship. Honest conversations about what’s really happening and why it matters. Elliot Omanson — host of Backseat Ballers and The Elliot Omanson Show.