monkey pox, monkeypox virus, virus-7217593.jpg

Today in the Market (8/5/2022)

Good Evening. Following the stronger-than-expected July jobs report, bond rates shot up while stocks ended the day with a mixed bag of results.

The Nasdaq was the day’s largest underperformer among equity indices at the closing bell, declining 0.50%, while the S&P 500 dipped 0.16% and the Dow increased 0.23%.

US JOB REPORTS ARE IN!

In spite of predictions that job growth would slow down in July, the U.S. labor market remained incredibly hot.

The Labor Department issued its most recent monthly jobs data. The following important figures from the report were compared to Bloomberg’s estimations of economic indicators:

  • Non-farm payrolls: +528,000 vs +250,000

  • Unemployment rate: 3.5% vs 3.6%

  • Average hourly earnings, month-over-month: +0.5% vs +0.4%

  • Average hourly earnings, year-over-year: +5.2% vs +4.9%

However, The data caused markets to react unfavorably, reassuring investors that the U.S. central bank is likely to continue with its aggressive rate hike program.

Bank of America economists predict a rise of 50 basis points at the September and November meetings, followed by a rise of 25 basis points in December. The bank retains expectations for smaller-sized hikes moving ahead.

MONKEYPOX OUTBREAK

monkey pox, monkeypox virus, virus-7217593.jpg

The US is experiencing the greatest monkeypox outbreak in the history of the disease, with at least 6,600 confirmed cases and a potential spread of undetermined scale. Monkeypox has been deemed a public health emergency by the Biden administration, the World Health Organization, and a few states as of yesterday.

The designation would free up funds for a war on the virus by accelerating the development of medicines and vaccines, and it will grant organizations like the CDC access to state statistics that should help keep case numbers current.

Monkeypox has gone almost unchecked across the nation since May 18 as a result of sluggish, inadequate testing and a critical shortage of immunizations.

  • Despite originally having more than 20 million doses of the Jynneos monkeypox vaccine in its national stockpile, the US only had 2,400 doses when the outbreak started.
  • Additionally, authorities took weeks to order the delivery of the almost 400,000 doses that were being kept in Denmark, where the vaccine is made.

Looking forward… 800,000 extra doses of the vaccine will be distributed to other states and jurisdictions after FDA approval, according to US health officials.

Scroll to Top

Where Are You On Your Investment Journey?

Rise

Run

Relax

All investors are unique.  The above characteristics are examples, but may not reflect your particular investor demographics or situation.  An advisor with Edgar Investment Management, LLC will assist you with finding the best type of account for you. 

Investment advisory services are offered through Edgar Investment Management, LLC, an investment advisor registered with the State of Texas. Edgar Investment Management, LLC only offers investment advisory services where it is appropriately registered or exempt from registration and only after clients have entered into an investment advisory agreement confirming the terms of engagement and have been provided a copy of the firm’s ADV Part 2A brochure document.

The content found on this website is developed from sources we believe provide accurate information and is for educational purposes only. The information on this website is not intended as tax or legal advice. Everyone’s tax and legal situation is different, so please consult trusted and knowledgeable legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided on this website are for general information, and should not be considered a solicitation for the purchase or sale of any security.

Material and information found on this website is not intended as an offer or solicitation for the sale or purchase of any specific security, mutual fund, ETF, bond, or investment strategy.  

Investing is risky!  No guarantee as to performance of any investment is implied by this website.  Make sure you have evaluated your options and spoken with trained professionals before you implement any investment strategy.  Past performance is not indicative of future results.  

Please be advised that Edgar Investment Management, LLC is a financial advisory firm specializing in investment management and financial planning services. We do not offer or provide any CPA-related services, including tax preparation, tax planning, or other accounting services. If you require assistance with tax-related matters, we recommend consulting a qualified CPA or tax professional who can provide specialized advice tailored to your individual needs.

Edgar Investment Management, LLC is not a Public Accounting firm.

 

Contact Us

Name
Best time(s) to contact you?
Best method(s) to contact you?

Contact Us

Name
Best time(s) to contact you?
Best method(s) to contact you?

We would love to hear from you! Please fill out this form and we will get in touch with you shortly.

  • About You

    Tell us a little about yourself. Don't be shy. Let's be friends.
  • How Can We Reach You?

    We would love to chat with you. How can we get in touch with you?
  • What's on your mind?

How much do you want to invest?