Market Minutes Recap - Market Update (Perspectives on the Purchasing Managers' Index, Job Openings, the Employment Situation, the yields market, and oil prices)
In this week's Market Minutes recap, hear from our team of investment experts as they share their perspectives on the latest market and economic activity. Our panel shares detailed insights into the Purchasing Managers' Index, Job Openings, the Employment Situation, the yields market, and oil prices.
Speakers:
Brian Pietrangelo, Managing Director of Investment Strategy
George Mateyo, Chief Investment Officer
Rajeev Sharma, Head of Fixed Income
Stephen Hoedt, Head of Equities
George Mateyo, Chief Investment Officer
Rajeev Sharma, Head of Fixed Income
Stephen Hoedt, Head of Equities
01:21 - Comments on the Purchasing Managers' Index data showing an uptick from August to September in manufacturing, while the services economy pulled back slightly
01:54 - According to the Job Openings Report, it shows an increase to 9.6 million job openings in August versus the prior month at 8.9 million, representing employers' willingness to search for and hire new talent. New non-farm payrolls increased by 336,000 for the month of September
05:37 - We continue to see yields moving higher, indicating that we may not be in the targeted inflation range quite yet
10:19 - Comments on how fast moving interest rate increases have a more powerful negative effect on equity markets than just having rates at a higher level
13:25 - Taking a peek into the healthcare and energy industries, they look to be spared from the ever-changing economy, yet the utilities industry seems to be taking a huge hit by dropping 15% in a 5-day period
15:22 - Insights into the oil industry as there appears to be a bit of a pullback. Since there's been no supply response in the last year, oil prices have stayed consistently high and are predicted to increase in the future
17:10 - Final comments on continuing to stay invested and diversified in high quality companies and securities.