Phil Rongo: June 9th 2025
Weekly Economic and Stock Market Commentary
As for the stock market specifically:
The stock market last week matched the argument between 2 well-known billionaires – very hot. I won’t describe it any further since I do not like to bring political views into my work with the broad exception that “our sober friends in Washington” do a very good job of spending $1.32 for every dollar of tax collected. This observation goes back many years, and the composition of the government has little to no impact on the result.
I’m told drunken sailors tend to stop spending when they realize all they have is cab fare back to the ship.
The good news is that the US markets are nearing record highs again, and that international markets are also doing very well this year.
My risk assessing tools are on offense and improved over the past week. Field position is good at this time. I continue to recommend WEALTH ACCUMULATION for clients.
Remember, Xs means OFFENSE or wealth accumulation, while Os means DEFENSE, or wealth preservation.
On a general note:
The Department of Labor announced the employment report for May. The economy added a better than expected 139,000 jobs, and the unemployment rate remained at 4.2%. The anticipated job gain was 130,000.
The pattern of great announcements followed by lower revisions continues. Monthly average hourly earnings rose 0.4%, and that bettered the anticipated gain of 0.3%. The annual gain in average annual earnings was 3.9% compared to an expected 3.7%. The bad news in the report came from the labor participation rate that fell 0.2%.
And lastly, foreign born employees declined for the 2nd consecutive month.
Phil Beat The S&P 500... 8 YEARS IN A ROW!
THE RESULTS SPEAK FOR THEMSELVES
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Disclaimer: The information provided in this communication is for informational purposes only and should not be construed as investment advice or a recommendation to buy or sell any particular security or investment. Past performance is not indicative of future results, and all investments involve risk, including the potential loss of principal. It is important to conduct your own research and consult with a qualified financial advisor before making any investment decisions. The opinions expressed herein are those of the author and do not necessarily reflect the views of the firm. This material is based on information believed to be reliable, but no warranty is given regarding its accuracy or completeness.