Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
And a happy Saturday morning to you. Welcome, thank you
for tuning in. You're listening to Let's Talk Money here
in eight ten and one O three one WGY. I'm
Ryan Bouchet, and I am happy to be here with
all of you this morning for the next hour or
so great at least where I am so far. It's
(00:21):
the reins holding off and looks to be a nice morning.
But we have a lot to get into today, a
lot to discuss from the latest headlines, the latest market news,
what we saw this past week, and I'm sure you
may have questions as well, so I'll give you our
phone mindes.
Speaker 2 (00:39):
They are open one eight hundred Talk WGY.
Speaker 1 (00:42):
That's one eight hundred eight two five five nine four nine.
Like I said, if you have any questions of what
we're seeing in the headlines in the news this week,
the markets, or something pertaining to your own maybe personal situation,
whether it's retirement, you know, helping your loved ones, whatever
(01:03):
it may be, give me a call again one eight
hundred talk WGY. That's one eight hundred eight two five
five nine four nine. And again, Ryan Bouchet will be
here with you for the next hour. And as I
opened up with We have a lot to talk about today,
no shortage of topics and excited to get things started.
(01:25):
So we'll talk about the markets this week. We can
see talk about, you know, kind of the trends and
what we're seeing in the overall market, what's driving it. Obviously,
yesterday's big news was the latest jobs report August came
out a little bit under what was expected, fairly underwhelming,
(01:46):
to be honest, and we'll dive into what the ramifications
of that will be, what that means. Uh, We've talked
about in the past, but we're kind of seeing this. Uh,
you know, for a while, we had a disconnect between
sentiment and reality, which is you know, now all of
a sudden converging a little bit, and you know, is
that something that is going to carry on?
Speaker 2 (02:05):
Is it?
Speaker 1 (02:06):
You know, maybe a little bit just temporary, transitory, if
you will. And we'll talk about kind of what we're
seeing in the underlying data. Big news, I'm sure and
probably many people are thinking about it. We see it
in the headlines all the time, right It's been a
huge focus of this administration of President Trump.
Speaker 2 (02:25):
But what's the FED to do?
Speaker 1 (02:27):
And I do think yesterday's news almost makes it a
certainty that we probably will see cuts in a few weeks.
But we'll talk about what what these cuts could mean
from the short term perspective, longer term perspective, and how
we're viewing what's ahead. You know, I think you know,
and I spoke with I was on Spectrum News last
(02:49):
night and yesterday afternoon and talking about sort of this,
you know, was at least asked the question about, you know,
are people panicking now? Is there some panic all of
a sudd and with the latest jobs report, And I
don't think it's it's time quite yet for panic. And
I'll go through some reasons for you know, optimism and
you know, ways to be thinking about you know, the
(03:11):
overall market situation. As you know, we're getting a little
bit weaker data reports coming out. But again, you know,
you got to look at both sides of any argument.
And there's always, no matter what the time is, you know,
times to be pessimistic, times to be negative, times to
be bearish, but you know, we have to weigh it
with all that's in front of us and doing what
(03:33):
we can to to plan ahead. And we'll talk about
some of the other sort of planning opportunities ways that
you can control your finances in this time of you know,
maybe what feels to be uncertainty in ways that we're
helping our clients take control of their financial lives. But
with that, I'm going to go to our phone lines.
We have Mary on the line. Mary, good morning.
Speaker 3 (03:59):
I have a question, and we have just sold my
father's house and the money is going to go to
care for him. What is the best way and where
is the best way to put the money? You know,
we have about twenty five thousand a year that goes
out to care for him right now, you know, so
what's the best place to put the money?
Speaker 1 (04:21):
That's that's a great question, and I think you know
now more than ever people are trying to figure that
out as and I mentioned it earlier. With the Fed
expecting to probably lower rates soon, we're seeing definitely a
change in what you can get on short term money. So,
you know, I think the way to be thinking about this,
you had mentioned you need about twenty five thousand a year.
(04:44):
I don't know, and you don't have to give this
specific number, but you know, I do think it's important
to understand maybe how you know how much proceeds came
from the home and how you're thinking about you know,
making distributions, right, I think, right, there's always you know,
there's there's kind of been that general rule of thumb,
of the four percent rule. I don't I don't really
(05:05):
fully fall into that camp. I think, you know, there's
a lot more room for flexibility there. But you know,
it does come down to kind of the time frame,
time horizon in what the outlook is. So with that,
you know, I do think we always what we always
discussed with clients is having you know, twelve to twenty
(05:27):
four months in this case, definitely, you know, twenty four
months of money conservatively put aside so that we can
withstand any ups and downs and volatility in the markets.
You know, like I said, on the short term, if
the Fed is going to be lowering rates, we're going
to get a lot less income on short term you know,
(05:49):
T bills, treasury bonds, whatever it may be. So you know,
it may be worthwhile to find some sort of laddering
approach with some fixed income to help you know, pay
for some of these expenses. You know, we always take
a total return approach, and I say that in that
you know, sometimes especially if rates are coming down it
(06:10):
may be harder to generate enough yield to maybe cover
the expenses or the annual distributions that you would need
from from this money. So, you know, having some money
invested in the stock market, right, with maybe a longer
bit a little bit longer term horizon for it, but
giving the opportunity to continue to grow what that money
(06:34):
valuation is, Like I said, having something set aside a
little bit more conservative in the short term, but having
something that you know, for moneies that are a little
bit longer term out three, five, seven, ten years, whatever
that may be, to grow. But you know, I think
it kind of comes down to how much you've you've
taken from the sale.
Speaker 2 (06:54):
Of the home.
Speaker 3 (06:56):
Yeah, so we've taken about one hundred and sixty five thousand, right,
and so you know that's where we're at. And the
bank also I talked with an advisor at the bank,
and she talked about annuities as a possibility, you know,
and she talked about doing like a thirty plan, like
(07:18):
thirty in the stock market, and then you know, another
percentage of it, like seventy percent of it in like
a more safer environment than the stock market.
Speaker 2 (07:27):
So, right, what.
Speaker 3 (07:29):
Kind of advised on and I was just wondering if
that's how you felt, if that was a good plan,
And what do you think about annuities?
Speaker 1 (07:39):
Yeah, what you know in maybe you don't have to
get specific and I but I do think it sort
of matters to the discussion. I mean, hopefully you're I
think you had said it was your father and hopefully
his health is okay maybe with the move. But you know,
certainly thinking about kind of time frame and timeline on this.
(08:00):
When you're thinking about pulling twenty five thousand on that
one hundred and sixty five, that's about fifteen percent, right,
So that's a pretty high percentage that you would need.
It's not impossible to do, but certainly kind of thinking
of what that timeline looks like. You know, we don't
use as a firm, we just don't use a lot
(08:21):
of annuities. You know, a lot of the reason there
is ill liquidity. You don't have a lot of flexibility
sometimes with them, and you know, some of the times
in terms of the lock up period, the costs sometimes
they can be a little bit higher in terms of
the cost for annuities. They may work in certain situations,
(08:43):
so you know, not saying that they're all bad and
maybe in specific instances they could be worthwhile, we just don't,
like I said, as a firm, we really don't use them.
Speaker 2 (08:54):
You know.
Speaker 1 (08:54):
The way I would be thinking about it again is
thinking about how we can sustain these two to three
years of distributions while also balancing some growth because again,
if this time horizon gets longer and longer, you know,
pulling fifteen percent, you would need some growth from that, right,
even most annuities aren't going to distribute fifteen percent typically,
(09:18):
And so it's just understanding I think how how we
can kind of make that, you know, do the proper
blend of conservative assets, assets that are paying it yield
and distribution, but also having some timeframe for growth. So
you know, those would be some of the considerations. I
don't know if there's you know, one perfect solution for it.
(09:41):
It's really understanding kind of how we how we find
the right balance around it and really looking at what
again what type of both income and growth we can
generate from it. And you know, it's it's impossible to
fully predict or forecast what you can grow in the
market as well, right, so having something there where you
(10:02):
know there's not many opportunities out there to get a
fifteen percent yield, but you know, balancing a decent yield
in the intermediate term, which you can still find in
But like I said, even with yesterday's news, we're seeing
interest rates come down pretty quickly, So definitely looking to
lock in what you can while they're still relatively high
(10:25):
based on the last fifteen or twenty year time horizon.
Speaker 3 (10:29):
Yeah, like the savings account like the bank offered me
was like three and a half, which isn't bad, you know,
considering everything right now. But I still would want to
put some of the money into like investments and stuff
like that to help it grow and you know, try
to make it stretch as long as possible.
Speaker 1 (10:47):
You know, I think that's absolutely right. And so the way,
you know, from the on the surface, the way I
had mentioned it earlier, think about how we can make
these next two to three years pretty row solid in
terms of the conservative nature of it, that money being
available liquid, and then you know, moneys from three to five,
(11:09):
seven years, ten years, whatever that may be. You know,
that's where I think getting it invested in the market,
having a well diversified portfolio from an equity standpoint can
be a good solution to help sustain that, and then
continually thinking about having those two to three years set
aside into a conservative nature so that again you're just
not worried about the volatility in the market. And it's
(11:32):
always it's called sequence of return risk. The worst thing
that you can do is sell positions to fund a
distribution while the markets are down. So having that two
to three year cushion can do wonders to help protect
against that.
Speaker 3 (11:47):
Okay, well, thank you so much for your help today.
Speaker 1 (11:51):
No, I appreciate the call. Thank you, and good luck
with everything.
Speaker 3 (11:54):
Okay, thank you, bye bye, all right.
Speaker 2 (11:56):
Thanks Mary.
Speaker 1 (11:58):
And those are those are you know, questions that we
deal with often, Right, it's how do we maybe not
that exact circumstance, but how can we find and maintain
cash flow through different circumstances and through different life events
and figuring that out. And as I said, because you
know this is where talking about it earlier, controlling what
(12:19):
we can control, Right, there's certain things that are out
out of our.
Speaker 2 (12:23):
Control future returns.
Speaker 1 (12:25):
You know what the market's going to do over the
next day or week, or month or year. But we
can put good plans in place to help, you know,
try to achieve these goals. Understanding what we're trying to accomplish,
find the right risk reward measures that make the most
sense in these circumstances, and do what we can to
(12:45):
you know, try to accomplish those. So Mary, again appreciate
the call. Thank you for sharing that and really irrelevant topic,
especially as again we're talking about what interest rates are
doing and in the direction of you know, the potential
FED move in a couple weeks, and so very relevant
to today's conversation. Again, our phone lines are open if
(13:05):
you have questions with anything involving your personal maybe financial situation,
retirement questions, planning questions, or just to talk about markets
and what we're seeing in the economy. Can we call
one eight hundred talk WGY. That's one eight hundred eight
two five five nine four nine. And as we said,
(13:28):
you know, as kind of a lead in right, we
are expecting. We saw it yesterday, we saw it this
week when you think about the market. So markets had
a you know a little bit of an up and
down week, but you know, buy and Large, the S
and P and the Nazak finished the week up. The
Naszak was up about a one percent. The S and
P was up aboutero point three percent, so not up
much in the markets did fall a little bit to
(13:50):
end the week on Friday, but we did have some
ups and downs right we started the week. Some of
the uncertainty going back to Terrace. We you know, I know,
nothing has been set in stone with the tear offf
conversations and with some of the negotiations around the world,
especially with some of our largest trade partners, right you
think about China, you think about India. We've deferred some
(14:13):
of these conversations or we've pushed back some of these deadlines,
but a lot of it has been you know, in
the talks. Not a ton of clarity. But I do
think the general understanding was that we'll get a deal
done in some capacity. May not be what was outlined
back in April right during the Liberation Day, may not
(14:38):
fall exactly in line there, but I do think the administration, right,
they want some deals, but they also don't want to
see the economy or the markets collapse, so they're going
to do what's you know, at the end of the day,
I do think they're going to do what's best for
the markets because they do measure a lot of the
success of the administration and what they're doing with the
stock market success, and you know that is tied to
(14:59):
the I mean, it's that's number one probably issue to
most Americans, most voters, so it is obviously important. So
I do think even though we didn't have full clarity
of what was happening in what light ahead, we we
had a feeling that these things will work themselves out,
we'll get to some good resolutions, and we'll have deals
(15:21):
in place. Well, you know, there has been a little
bit of a change to some of that with courts
ruling that some of these terrorists were unconstitutional, So what
happens there and right the week started actually with some
high volatility in terms of you know, the uncertainty around that, right,
are we going to have to repay the terrorists that
(15:42):
we brought in? And you know, maybe compared to what
our federal deficit deficit and h our you know, our
annual budget deficits in national debt not a huge dent
into it, but you know, there were upwards of closing
a lot of different numbers being thrown around, but clost
of two hundred billion potentially in tarrifs that we've collected
(16:03):
that you know now they may need to be paid
back depending on how this plays out. I know the
administration wants it to be expedited through the Supreme Court
to get resolution, and rightfully so, we do need resolution
on it. But that just creates another level of uncertainty.
So we saw volatility to start the week. Then as
(16:23):
the week went on, we had some good news with
Google and Apple a little bit of clarity on some
of their court cases when it comes to the monopoly
of using Chrome and Safari as a default search engine
on Apple devices. And I don't have it in front
(16:43):
of me right now, but the net income that Apple
derives from Google's exclusivity deal as a search engine on
those devices is quite large for Apple. I mean it's
at least ten percent. It may be to like seventeen
percent I think of true bottom line, and that's nothing
(17:04):
that gets impacted by margin. So this was a historic
sort of precedent and outcome in this space. So you
see Google really kind of helped lead the charge, and
I think this is why we're seeing the NASAC do
so well this week in comparison to the rest of
the markets.
Speaker 2 (17:22):
Is that big news out of there.
Speaker 1 (17:24):
We know these companies make up a huge percentage of
you know, both the SMP than NASDAC. They've grown so large.
So it was a good driver midweek for the markets.
And then, like I said yesterday, we closed the week
down a little bit. It wasn't as bad of a
selloff as it maybe could have been, and it was
at one point during the day, but the news out
(17:46):
of the August jobs report certainly drove the markets lower
to end the week. So a lot of headlines, a
lot that was driving the market. And we'll get a
little bit more into what that August jobs report meant,
some of the things that we're talking about in what
we're sharing with our clients. And so we're going to
(18:06):
go to a short commercial break, and when we come
back again, let's talk a little bit more about the
August jobs report, some of the what we're focused on
beneath the surface, how we should be interpreting that data,
what it means for the markets moving forward, and then
we'll take it into a conversation of the FED and
in some planning topics that you should be thinking about
(18:28):
during these times. Again, our phone lines are open before
I go to break, If you want to give me
a call one eight hundred Talk WGY. That's one eight
hundred eight two five, five, nine four nine. Look forward
to catching up after the break. You're listening to Let's
Talk Money here at eight ten and one O three
one WGY. And welcome back to Let's Talk Money here
(18:49):
a eight ten and one O three one WGY. I'm
Ryan Bouschet, Glad to be here with all of you today.
Appreciate all the listeners tuning in. You're a regular listener
or new to the show. Always great to have you here.
It's always great to have you part of the program.
So if you do have any questions, if you want
to give me a call, talk about the markets, talk
(19:10):
about the economy, talk about something in your own personal
financial life, please do give me a call. One eight
hundred Talk WGY one eight hundred eight two five five
nine four nine. And again, big news from yesterday August
jobs report which came in, came in low, right, came in.
Expectations were for about seventy five thousand jobs being created.
(19:32):
We had about twenty two thousand jobs being created.
Speaker 2 (19:35):
And so actually, and.
Speaker 1 (19:38):
Before we get too far into that, I will direct
you if you want to take a look at I
put out a little bit of a newsletter yesterday to
our clients. You can find that at our website. You
can go to Bouche dot com. That's Bouche dot com.
Under our insights, you'll see the Bouche blog. You can
take a look there. And you know, we talked about
and then shared with clients just this path that now
(20:01):
is emerging.
Speaker 2 (20:02):
Right.
Speaker 1 (20:02):
We you know, sometimes we get a one off reading.
Maybe it's a coincidence, maybe it's you know, just bad data.
Speaker 2 (20:11):
Right.
Speaker 1 (20:12):
The President fired the last labor head of the labor statistics.
We were told that this month's was going to be
the most accurate ever. And I don't know if that's
the news that Howard Lutnik wanted to lead in with
yesterday before the report was released. But like I said,
(20:32):
we only created twenty two thousand jobs, pretty weak reading
all things considered, and not any major revisions.
Speaker 2 (20:41):
Right.
Speaker 1 (20:41):
If you remember July's jobs report, the big news and
the big headline out of there was even though we
had some weakness for July, it was the revisions from
the months before that we're up in the hundreds of
thousands that we reported lower, which was a big shock
to the system. Markets traded down that day as well,
and for the next few days as a sign of
(21:04):
a maybe weakening economy, and then yesterdays again the headline was,
you know, again week twenty two thousand, what we weren't
expecting a lot. Seventy five thousand is well below what
we've been seeing the last few years. But you know,
no major revision, some revisions lower. You know, you look
back even June now they revised it to where we
(21:26):
actually lost you know, we had a net loss of jobs,
about thirteen thousand jobs for June. So that was kind
of an eye opener. And I do think now that
we've had multiple months in a row of some weakening
and softening in the labor markets. The unemployment rate now
is up to four point three percent, and we're starting
(21:48):
to see a pattern. And so what does that mean
as we move forward? What do we have to be
aware of? Right, So, we're seeing slowing wage growth. This
was the slowest first eight months since two thousand and nine, right,
So again not just the last month or so, but
the start of the year, the first two thirds of
(22:09):
this year is the weakest that we've seen from a
job's creation standpoint in over fifteen years, and so these
things again we have to be aware of of. You know,
what does this have as an impact to our economy,
how does this impact the markets?
Speaker 2 (22:26):
And what are we going to see ahead? Right?
Speaker 1 (22:29):
I discussed, like I said on I was on Spectrum
News last night, just talking about how this is such
a backbone to our overall economy, right, what the labor
market is doing and oftentimes historically speaking at least I've
used this phrase before, but you see unemployment comes, They
use this saying it comes down like an escalator, rises
like an elevator. And sometimes when unemployment changes in the
(22:51):
labor market shifts, you can see a pretty quick jump
in terms of slowing of job growth. And you know
the impact on the economy, and so taking the step back,
is this part of a sort of delayed impact from
the uncertainty around tariffs? Is it more of a sign
(23:14):
of a weakening economy, a recessionary economy? You know, it's
hard to say exactly. I do think there's some good
news in all this, and we're getting close to our
news breaks, and when we come back, we'll talk a
little bit about kind of what lyne beneath the surface
of this latest report, what it means for the markets,
what it means for investors, and how we're interpreting and looking.
Speaker 2 (23:37):
At all of the data along with it.
Speaker 1 (23:40):
So when we come back again, we'll talk more about
the economy, the jobs report, and anything you may have
questions on. You're listening to Let's Talk Money here in
eight ten and one O three one WGY. Stay with
us through the news. We'll talk to you soon and
welcome back to Let's Talk Money here in eight ten
and one O three one WGY. I'm Ryan Bush and
(24:00):
we'll be with you for the second half of the show.
Glad to be with all of you, and thanks again
for tuning in. Always great having you be a part
of the show. So if you want to give me
a call and ask any questions you may have, you
can do so.
Speaker 2 (24:14):
One eight hundred talk WGY.
Speaker 1 (24:16):
That's one eight hundred, eight two, five, five, nine, four nine.
And so as we enter you know, I guess fall
and maybe not officially fall, but starting to feel more
and more like fall in September, right, we're starting to see,
you know, maybe a little bit change in in some
(24:37):
of the economic data then that we've been used to,
right we've we've talked a lot about this with clients
on the radio and just sort of this theme of
having a disconnect between sentiment and reality and ever since.
You know, there was a there was a lot of
optimism around the election cycle. Towards the end of the year,
(24:59):
begin think of the year and you know, I think
rightfully so right Trump administration really looking to come in,
jumpstart the economy, put in some of the initiatives that
are business friendly, all good things, and you know, when
we look back historically, most you know, presidential cycles have
been positive for the stock market. The stock market's mostly
(25:20):
up on an annual basis, it's up three quarters of
the time. You go further out, you get you hit
five years, and it's closer to ninety percent of the
time the market's up. So if you think of presidential terms,
that kind of aligns with a positive outlook for stocks.
But there was a lot of optimism, and as we
got into March and April, there was a little bit
(25:42):
of a change there and that had to mainly do
with tariffs. And again, whether you believe they're good long term,
they'll be a positive for the economy in the markets.
You know, I think to be determined still, but at
the end of the day, sentiment came down, right, this
business owner sentiment, consumer sentiment, CEO sentiment, whatever it may be.
(26:06):
We started to see a real fall off there, but
economic data continued to be strong. We continue to see
strong consumer spending. We started, we continued to see earnings
growth in corporate America. I mean, things were good in
the market. Reflected that we had a nice bounce back
after the pullback early on in April. We started to
(26:29):
see a good recovery in the markets. And this was
all positive, right, but we are starting to see all
of a sudden some cracks in the economy. And again
this may be just sort of a delayed response and
delayed action from what transpired this spring with tariffs and
the uncertainty surrounding that. And you know, as bad as
(26:51):
maybe yesterday's labor report belt or looked and the surface
again we only created about twenty thousand jobs, was at
a negative.
Speaker 3 (27:01):
You know.
Speaker 1 (27:01):
The one silver lining that I think we can take
out of it, and I think, you know, kind of
points back to maybe again this uncertainty around global trade
is we weren't seeing massive job cuts and that's a
good thing. Right, we're seeing mostly as kind of this
hiring freeze environment. There's just not a lot of hiring
(27:23):
or firing taking place. And you know, I do think
that's a more of a positive sign. Typically, when you
see the labor market really starting to slow down, you
tend to see a little bit more of a you know,
firing environment, layoffs are elevated, you start seeing that more
and more, whereas right now you're not seeing that at
(27:44):
a wide scale, you're not seeing that across the board.
What you're seeing mostly is kind of a hiring freeze.
So I do think that's a little bit of a
silver lining here, and I do think we could still
be again seeing sort of this delayed response to the
uncertainty around terrorists, because again, it takes a long time
for these too filter into our environment, our economy, whether
(28:10):
it's through small businesses and the impact there larger businesses.
I do think there has been a sentiment around you know,
if you look at Wall Street versus Main Street, that
Main Street sort of being a little bit slower to
higher right now, and those that was the sentiment in
a lot of those surveys that were coming back. And
(28:31):
so it's not entirely surprising, probably more surprising that it
took this long to see an impact there because you know,
anecdotally especially but even through those surveys, you saw how
negative some of the sentiment was. And so again it's
not necessarily unsurprising that we're seeing it. Maybe it's the
bigger surprises it's taken this long to see. So where
(28:53):
do we go from here and what does that mean
moving forward? Well, you know, I think when you think
about the FED and what they're going to do again,
the FED has been in the headline so much lately
with regard to Trump the administration. Certainly they've wanted rates
to come down. And like I said, we saw the
FED lower rates last year. It's not like they haven't
(29:15):
lowered rates, and believe it or not, I really just
didn't have much of an effect on the longer term
trend or the longer end of the curve. When the
FED actually lowered rates by one percent, the ten year
yield rows by one percent, So we kind of saw
an opposite effect there. But we are seeing the ten
year yield come down this week in particular strong sellof
(29:40):
or you know, I guess more of a you know,
buying of treasuries wasn't so much a selloff, it was
just a lowering of yield. Right, as prices go up,
yield comes down. And we went from last week ten
year yielding about four point three percent at one point
to yielding as of YESTERDA is closed about four point
(30:01):
zero eight five. So pretty big, pretty substantial drop almost
twenty five basis points this week in the ten year.
And so if you're you know, borrowers, if you're a
business owner, if you're just a borrower maybe looking at
homes from a mortgage, a car loan, whatever it may be,
(30:23):
it's good for those folks, right, that's where the biggest
impact will have from a borrowing standpoint. That tends to
be kind of the benchmark for a lot of our
lending rates and standards. So that's good for anyone in
those markets and maybe just consumers as a whole. You know,
(30:43):
at this point, it's almost a certainty that I think
the Fed will lower rates. They next meet in about
ten days. They're meetings September fifteenth and sixteenth, and so
at this point it's it's almost a foregone conclusion that
they will be lowering rates. You know, talking to Mary
and her call earlier. And again our phone lines are
open if you want to give me a call one
(31:04):
eight hundred talk WGY. That's one eight hundred eight two
five five nine four nine. Do so give me a
call if you have any questions or want to talk
about you know, your situation or the economy and markets,
and you know, thinking about folks that are maybe sitting
in cash, been getting some good yield for quite some time,
(31:25):
you know, those yields are probably going to be dropping.
You know, it's it's not out of the question that
they could drop a half a percent in September. Most
likely will be dropping by zero point two five percent.
But I also saw even just overnight with the futures expectation,
that expectation for the next three FED meetings to close
the year is that they're going to be cutting rates
(31:46):
each and every one of them. So expectations are probably
for you know, anywhere from a half a percentage point
to a full percentage point of interest rates at least
the FED funds rate lowering between now in year end
before twenty twenty six. And so how do you plan
around that? What's the impact going to be? Like I
said last year when the Fed lowered rates actually spurred
(32:08):
higher rates on the longer end of the curve. I think,
you know, at that point we had probably stronger economy,
you know, a little bit higher inflation. That's what can
help keep rates higher on the longer end of the curve.
That are more in that, you know, natural yield perspective
and natural rate of interest of the overall market versus
(32:31):
what the FED is doing and what the FED can control.
But we are seeing a you know, some downward pressure
on rates right now, and you know it'll be interesting.
We do have a CPI a inflationary report coming out
next week. I don't think it's going to matter for
the Fed. I do believe with this latest jobs report
there their hand is forced at this point.
Speaker 2 (32:53):
They will need a lower rates.
Speaker 1 (32:57):
Even if inflation stays a little bit stubbornly high, which
it has been. I don't think they can dismiss what
we're seeing in the labor market in the labor reports.
They will probably be forced to lower rates, but they
do have you know, it's a trickier situation than what
they've been accustomed to, right because you have two opposing
(33:19):
ends of the spectrum of what the Fed's dual mandate
is between keeping unemployment low and keeping inflation at about
two percent. Right, those are moving in opposite directions right now. Well,
I guess the rates are moving in the same direction.
But in terms of what the FED can do to
(33:40):
help each one of them, right, they would have to
increase interest rates to stop inflation, lower interest rates to
help spur economic growth or labor growth. And so they
are certainly at a crossroads. But I do think right now,
I think the most important thing for them is labor
and the economy. And so again, when we think about
(34:02):
what's ahead, if the FED is going to be lowering rates, right,
how does it affect you as a consumer, But how
does it affect you as a investor? And what is
the impact of the FED cutting rates? And historically speaking,
I think it's it's hard to tell right now. I
think when you take a step back, you can look
(34:25):
at what's happening now and I think there's you know,
probably three different outcomes, three different scenarios that we can
move into in this type of environment. Right we don't
fully know what's going on. Again, we can take and
extrapolate the data that we have at our disposal now
right we're seeing slowing of labor, but we still see,
(34:49):
you know, relatively strong economy. Second quarter GDP, those numbers
came in revised pretty strong a few weeks ago, over
three percent. The trend for the third quarter so far
has been relatively strong as well. We're not seeing major
drop off in consumer spending, although I will say when
you take a look at earnings season, by and large,
(35:12):
earning season was pretty strong, pretty good. I know, we
had one bad week with a lot of the big
retailers not coming in great or maybe their outlooks weren't great.
You think about Walmart, you think about Target, who else
was in there at the time. I know there was
a third I'm kind of blanking on it now, but
(35:34):
maybe it was Home Depot or Lows or maybe a
combination of the two, where again maybe they were missing
the mark. But outlook wasn't as strong as was being
hoped for now we don't know what the future holds
per se, but that did hurt, you know, I think
that was kind of some signs of maybe a weakening consumer.
But by and large, you know, corporate America and in
(35:58):
earnings have been have been pretty strong, so so there's
still a lot of positive momentum, and you know, not
we haven't even talked about this positive momentum for AI
and and how that is a driver right now of
the markets and what's ahead.
Speaker 2 (36:11):
So there are reasons to be optimistic. It's more of
what what is? What has this latest trend in labor? Again?
Speaker 1 (36:21):
Is that is that a one off? Is could this
be temporary with regard to tariffs and the uncertainty there
or is it a longer term issueing can the FED
step in and help? And again you want to talk
about any of these topics can be called one eight
hundred talk WGY that's one eight hundred eight two five, five, nine,
four nine. But when we look at it right from
(36:45):
a historical context, typically when the Fed is lowering rates,
sometimes we see a nice little boost. We saw it,
you know, even to start the day yesterday, we saw
a quick boost in the markets. I think maybe with
anticipation that the Fed will lower rate, But you know,
it really is dependent on what's driving the Fed to
lower rates and whether or not, historically speaking, that's good
(37:08):
for markets when we take it in the aggregate, typically
speaking in a easing environment. In an easing environment is
when the FED is lowering rates, we do typically see
stocks not do as well. That's typically a bad time
for stocks, good time for bonds. Right, If yields on
bonds are coming down, that means their prices are going
(37:29):
up again. We saw it this week with fixed income.
It was a good week to be bond holders and
locking in some good yield if you've had it. That's
a good you know, for a diverse five portfolio. I
know bonds have kind of gotten beaten up over the
last few years and maybe doesn't get the love that
maybe they deserve. But as we've been talking with clients
(37:51):
over the last twelve to eighteen months, we've been at
eighteen nineteen year highs from a yield perspective. Recently, to us,
that was good time to own bonds and to get
into bonds and lock in some of those yield, especially
on an intermediate to longer term perspective, because again, if
you were relying on the five percent federal funds rate,
(38:12):
you know, which you could get in money markets as
of last year at some points, right, all of a sudden,
that's going to be coming down probably to the mid
threes by the end of this year. So locking in
rates even if you were getting lower rates over the
last twelve months to lock it in for seven to
ten years. Is locking in four and a half four
and three quarters percent for seven to ten years better
than having the short term five plus percent. But now
(38:35):
all of a sudden, that's going too closer to three
three and a half percent. So it's all about finding
that right balance and what works for you and what
your cash flow needs. But again taking a step back
in terms of the FED lowering rates, historically that has
not been good for stocks. But the reason being is
that the FED is typically lowered rates to help stimulate
(38:56):
the economy. So there's been issues within the economy maybe
reset that's when you will see the FED lowering rates,
and so it's it's pretty clear why that has been
bad for stocks. It's not necessarily that lower rates are
a bad thing for socks. It's just the environment of
why rates were lowering has been the catalyst there. And
(39:16):
so you know, when you think about lower rates, that
should help stimulate the economy. That's what it's intended to do.
When your lower rates makes you borrowing cheaper and hopefully
that stimulates the economy. And so where we go from here,
you know, I almost see it in what we're talking
about extensively as an investment committee is kind of these
three paths from here, right, Is this more of an
(39:39):
extension of lowering rates because we're getting a little bit
more of a soft landing environment similar to what we
saw last year, similar to what we saw back in
the mid nineties before the bubble burst towards the end
of the nineties early two thousands. What we saw in
the mid nineties was again a slowing economic environment with
(40:04):
a easing policy, so you know, they they had that
soft landing that again you see a little bit of
a slowing economy, but not a recessionary economy, and that
turned into be you know, a good time even with
lower rates. That helped stimulate, that helped keep the economy going.
And we saw that, like I said, mid nineties, similar
(40:26):
timeframe for that. We also saw it last year a
little bit where we talked a lot about kind of
what that what that soft landing looks like. The other
I guess kind of outcome right now is you know,
a recession, you know, and I don't know if we're
necessarily in that camp. I don't think we're quite there yet.
(40:46):
Even with the slowing labor number. But again, you know,
oftentimes when the FED is cutting rates, it's due to
a recession. So you know, if you were to see
a more recessionary environment and maybe the FED being late
to the game, as as President Trump has been alluding to,
then you could see a bad environment for stocks where
(41:07):
I kind of you know, where we're probably leaning most
towards in terms of where the outcome is from here
or what the future holds. It's kind of this you know,
slowing growth which we've been seeing with you know, stubborn inflation,
and you know, I don't think it's it's necessarily a
(41:28):
stagflation full stagflation environment, but this sort of like light
stagflation environment where again inflation's sticky, maybe that is eating
a little bit into economic growth. We are seeing slowdowns, right,
We're seeing it in the labor market, we're seeing in
some other areas of the economy, but still a relatively
strong foundation. And if some of this labor becomes temporary,
(41:51):
again driven by some of the uncertainty with tariffs, then
we may be in this sort of uh, you know,
sideways environment in the near term, right, with lowering rates
which can help stimulate the economy, but we're we are
experiencing some uncertainties, some slow downs that we need to
get through. And again we are also dealing with you know,
(42:11):
pretty elevated stock valuations at this time, so you take
that into account. And so what we're doing is assessing
the portfolios. Are we having exposure to the right areas
of the market, are we you know, overweighting to the
areas of where we think that thesis lies in terms
of what we see the outlook from here. But what
we do know is that FED will be lowering rates
(42:35):
and we have to you know, create the right balance
within the portfolios to you know, adhere to the environment
that we're in. And you know, that's something that we
do on a weekly basis. We had we actually had
a meeting yesterday morning following the labor report just to say, hey,
(42:55):
are we really positioned to do what we want to
do in the portfolios? Do we have that proper balance?
Are we allocated in the right way? And is every
you know, position in that portfolio you know, doesn't have
that intentionality? What is the purpose of what we hold
within the portfolio? And that's something that we feel really
good about. But we're all we're also always assessing as
(43:20):
information changes, data changes, as we get new information, so
really important to us and really important to our investment team.
So with that, why don't we go We'll take one
short break before the end of the show. When we
come back, we can talk about, you know, things, maybe
decisions that you can be making, things that you can
be doing to take control of your own financial situation
(43:43):
with some of this uncertainty out there. So if you
do have any final questions before the show ends, give
me a call one eight hundred Talk WGY. That's one
eight hundred eight two five, five, nine four nine. You're
listening to Let's Talk Money here on eight ten and
one oh three to one WGY, And welcome back to
Let's Talk Money here in eight ten in one o
three one WGY. We are in the home stretch. We've
(44:07):
got a few minutes left of today's show. Appreciate all
the listeners tuning in.
Speaker 2 (44:11):
UH.
Speaker 1 (44:12):
If you do have any questions before we are are
done for today, give me a call one eight hundred
Talk WGY. That's one eight hundred eight two five five
nine four nine. If anything that we've discussed or brought
up has peaked any curiosity or peaked. Any questions again,
give me a call one eight hundred talk WGY one
eight hundred eight two five, five, nine four nine. So
(44:37):
when we think about this environment a little bit in
discussing you know, what lies ahead again, we can we
can take all the data we can, we can put
it together and have a good understanding of where we're at.
But future is always a little uncertain. We can never
you know, be fully certain of what lies ahead, and
so making smart financial decisions, coming up with plans and
(45:01):
doing you know, as I always say, controlling what we
can control makes such a big difference as as we
look to what lies ahead of us. You know, we
had a good conversation internally yesterday. We've we've talked about
it here. But our use for for some clients that
it fits their situation. You know, this is for probably
(45:25):
more high net worth complex situations. But you utilizing, uh,
some of the tools that we've used internally, you know,
direct indexing one in particular that comes to mind. It
is such a great approach, especially when markets are volatile
like this, and direct indexing gives us the ability to
(45:48):
and in the way we use it in our partner,
we're able to mirror our ETF portfolios. We've always talked
about how much we love ETFs. We love the diversification,
we love the tax efficiencies. It's a great way to
the costs. It's a great way to enter the market
in areas of the market in a way that really
(46:08):
aligns with our investment philosophies and how we manage wealth
for clients. But direct to indexing kind of takes that
even a step further where we can mirror our client allocations.
We can mirror our client portfolios from the equity side,
but do so in a way of capturing individual stocks,
(46:30):
but having the technology infrastructure to continually, you know, when
positions are down, sell, capture losses, keep tracking the market
or the portfolio we're trying to track, but do so
in a way that is so beneficial. We're and we're
seeing it with you know, a year like this year
where we have had volatility earlier in the year and
(46:52):
most likely we'll probably see a little bit more volatility
from here on out. It really adds a lot of
what we call tax outfit to the portfolio. You know,
being able to capture those losses gives us the ability
to you know, offset gains in the future or now,
and again that adds what we call tax alpha, so again,
(47:14):
controlling your tax situation. We invest so much into our technology,
whether it's partnering up on a solution like that, using
our tax planning and preparation tools. I mean, these are
things that again add so much value to our relationships
with clients and that we know we're taking the advantage
of situations even though it kind of feels or can
(47:35):
feel a little bit uncertain. So I thank you all
again for tuning in today at a great show, a
lot to talk about. We'll be back tomorrow Sunday at
eight am for an hour so you can catch us
there as well. And like I said, thank you so
much for tuning in. I hope each and every one
(47:56):
of you has a great rest of your weekend and
appreciate you listening to Let's Talk Money here on eight
ten and one O three one w G Y, take
care and have a great rest of your weekend.
And a happy Saturday morning to you. Welcome, thank you
for tuning in. You're listening to Let's Talk Money here
in eight ten and one O three one WGY. I'm
Ryan Bouchet, and I am happy to be here with
all of you this morning for the next hour or
so great at least where I am so far. It's
(00:21):
the reins holding off and looks to be a nice morning.
But we have a lot to get into today, a
lot to discuss from the latest headlines, the latest market news,
what we saw this past week, and I'm sure you
may have questions as well, so I'll give you our
phone mindes.
Speaker 2 (00:39):
They are open one eight hundred Talk WGY.
Speaker 1 (00:42):
That's one eight hundred eight two five five nine four nine.
Like I said, if you have any questions of what
we're seeing in the headlines in the news this week,
the markets, or something pertaining to your own maybe personal situation,
whether it's retirement, you know, helping your loved ones, whatever
(01:03):
it may be, give me a call again one eight
hundred talk WGY. That's one eight hundred eight two five
five nine four nine. And again, Ryan Bouchet will be
here with you for the next hour. And as I
opened up with We have a lot to talk about today,
no shortage of topics and excited to get things started.
(01:25):
So we'll talk about the markets this week. We can
see talk about, you know, kind of the trends and
what we're seeing in the overall market, what's driving it. Obviously,
yesterday's big news was the latest jobs report August came
out a little bit under what was expected, fairly underwhelming,
(01:46):
to be honest, and we'll dive into what the ramifications
of that will be, what that means. Uh, We've talked
about in the past, but we're kind of seeing this. Uh,
you know, for a while, we had a disconnect between
sentiment and reality, which is you know, now all of
a sudden converging a little bit, and you know, is
that something that is going to carry on?
Speaker 2 (02:05):
Is it?
Speaker 1 (02:06):
You know, maybe a little bit just temporary, transitory, if
you will. And we'll talk about kind of what we're
seeing in the underlying data. Big news, I'm sure and
probably many people are thinking about it. We see it
in the headlines all the time, right It's been a
huge focus of this administration of President Trump.
Speaker 2 (02:25):
But what's the FED to do?
Speaker 1 (02:27):
And I do think yesterday's news almost makes it a
certainty that we probably will see cuts in a few weeks.
But we'll talk about what what these cuts could mean
from the short term perspective, longer term perspective, and how
we're viewing what's ahead. You know, I think you know,
and I spoke with I was on Spectrum News last
(02:49):
night and yesterday afternoon and talking about sort of this,
you know, was at least asked the question about, you know,
are people panicking now? Is there some panic all of
a sudd and with the latest jobs report, And I
don't think it's it's time quite yet for panic. And
I'll go through some reasons for you know, optimism and
you know, ways to be thinking about you know, the
(03:11):
overall market situation. As you know, we're getting a little
bit weaker data reports coming out. But again, you know,
you got to look at both sides of any argument.
And there's always, no matter what the time is, you know,
times to be pessimistic, times to be negative, times to
be bearish, but you know, we have to weigh it
with all that's in front of us and doing what
(03:33):
we can to to plan ahead. And we'll talk about
some of the other sort of planning opportunities ways that
you can control your finances in this time of you know,
maybe what feels to be uncertainty in ways that we're
helping our clients take control of their financial lives. But
with that, I'm going to go to our phone lines.
We have Mary on the line. Mary, good morning.
Speaker 3 (03:59):
I have a question, and we have just sold my
father's house and the money is going to go to
care for him. What is the best way and where
is the best way to put the money? You know,
we have about twenty five thousand a year that goes
out to care for him right now, you know, so
what's the best place to put the money?
Speaker 1 (04:21):
That's that's a great question, and I think you know
now more than ever people are trying to figure that
out as and I mentioned it earlier. With the Fed
expecting to probably lower rates soon, we're seeing definitely a
change in what you can get on short term money. So,
you know, I think the way to be thinking about this,
you had mentioned you need about twenty five thousand a year.
(04:44):
I don't know, and you don't have to give this
specific number, but you know, I do think it's important
to understand maybe how you know how much proceeds came
from the home and how you're thinking about you know,
making distributions, right, I think, right, there's always you know,
there's there's kind of been that general rule of thumb,
of the four percent rule. I don't I don't really
(05:05):
fully fall into that camp. I think, you know, there's
a lot more room for flexibility there. But you know,
it does come down to kind of the time frame,
time horizon in what the outlook is. So with that,
you know, I do think we always what we always
discussed with clients is having you know, twelve to twenty
(05:27):
four months in this case, definitely, you know, twenty four
months of money conservatively put aside so that we can
withstand any ups and downs and volatility in the markets.
You know, like I said, on the short term, if
the Fed is going to be lowering rates, we're going
to get a lot less income on short term you know,
(05:49):
T bills, treasury bonds, whatever it may be. So you know,
it may be worthwhile to find some sort of laddering
approach with some fixed income to help you know, pay
for some of these expenses. You know, we always take
a total return approach, and I say that in that
you know, sometimes especially if rates are coming down it
(06:10):
may be harder to generate enough yield to maybe cover
the expenses or the annual distributions that you would need
from from this money. So, you know, having some money
invested in the stock market, right, with maybe a longer
bit a little bit longer term horizon for it, but
giving the opportunity to continue to grow what that money
(06:34):
valuation is, Like I said, having something set aside a
little bit more conservative in the short term, but having
something that you know, for moneies that are a little
bit longer term out three, five, seven, ten years, whatever
that may be, to grow. But you know, I think
it kind of comes down to how much you've you've
taken from the sale.
Speaker 2 (06:54):
Of the home.
Speaker 3 (06:56):
Yeah, so we've taken about one hundred and sixty five thousand, right,
and so you know that's where we're at. And the
bank also I talked with an advisor at the bank,
and she talked about annuities as a possibility, you know,
and she talked about doing like a thirty plan, like
(07:18):
thirty in the stock market, and then you know, another
percentage of it, like seventy percent of it in like
a more safer environment than the stock market.
Speaker 2 (07:27):
So, right, what.
Speaker 3 (07:29):
Kind of advised on and I was just wondering if
that's how you felt, if that was a good plan,
And what do you think about annuities?
Speaker 1 (07:39):
Yeah, what you know in maybe you don't have to
get specific and I but I do think it sort
of matters to the discussion. I mean, hopefully you're I
think you had said it was your father and hopefully
his health is okay maybe with the move. But you know,
certainly thinking about kind of time frame and timeline on this.
(08:00):
When you're thinking about pulling twenty five thousand on that
one hundred and sixty five, that's about fifteen percent, right,
So that's a pretty high percentage that you would need.
It's not impossible to do, but certainly kind of thinking
of what that timeline looks like. You know, we don't
use as a firm, we just don't use a lot
(08:21):
of annuities. You know, a lot of the reason there
is ill liquidity. You don't have a lot of flexibility
sometimes with them, and you know, some of the times
in terms of the lock up period, the costs sometimes
they can be a little bit higher in terms of
the cost for annuities. They may work in certain situations,
(08:43):
so you know, not saying that they're all bad and
maybe in specific instances they could be worthwhile, we just don't,
like I said, as a firm, we really don't use them.
Speaker 2 (08:54):
You know.
Speaker 1 (08:54):
The way I would be thinking about it again is
thinking about how we can sustain these two to three
years of distributions while also balancing some growth because again,
if this time horizon gets longer and longer, you know,
pulling fifteen percent, you would need some growth from that, right,
even most annuities aren't going to distribute fifteen percent typically,
(09:18):
And so it's just understanding I think how how we
can kind of make that, you know, do the proper
blend of conservative assets, assets that are paying it yield
and distribution, but also having some timeframe for growth. So
you know, those would be some of the considerations. I
don't know if there's you know, one perfect solution for it.
(09:41):
It's really understanding kind of how we how we find
the right balance around it and really looking at what
again what type of both income and growth we can
generate from it. And you know, it's it's impossible to
fully predict or forecast what you can grow in the
market as well, right, so having something there where you
(10:02):
know there's not many opportunities out there to get a
fifteen percent yield, but you know, balancing a decent yield
in the intermediate term, which you can still find in
But like I said, even with yesterday's news, we're seeing
interest rates come down pretty quickly, So definitely looking to
lock in what you can while they're still relatively high
(10:25):
based on the last fifteen or twenty year time horizon.
Speaker 3 (10:29):
Yeah, like the savings account like the bank offered me
was like three and a half, which isn't bad, you know,
considering everything right now. But I still would want to
put some of the money into like investments and stuff
like that to help it grow and you know, try
to make it stretch as long as possible.
Speaker 1 (10:47):
You know, I think that's absolutely right. And so the way,
you know, from the on the surface, the way I
had mentioned it earlier, think about how we can make
these next two to three years pretty row solid in
terms of the conservative nature of it, that money being
available liquid, and then you know, moneys from three to five,
(11:09):
seven years, ten years, whatever that may be. You know,
that's where I think getting it invested in the market,
having a well diversified portfolio from an equity standpoint can
be a good solution to help sustain that, and then
continually thinking about having those two to three years set
aside into a conservative nature so that again you're just
not worried about the volatility in the market. And it's
(11:32):
always it's called sequence of return risk. The worst thing
that you can do is sell positions to fund a
distribution while the markets are down. So having that two
to three year cushion can do wonders to help protect
against that.
Speaker 3 (11:47):
Okay, well, thank you so much for your help today.
Speaker 1 (11:51):
No, I appreciate the call. Thank you, and good luck
with everything.
Speaker 3 (11:54):
Okay, thank you, bye bye, all right.
Speaker 2 (11:56):
Thanks Mary.
Speaker 1 (11:58):
And those are those are you know, questions that we
deal with often, Right, it's how do we maybe not
that exact circumstance, but how can we find and maintain
cash flow through different circumstances and through different life events
and figuring that out. And as I said, because you
know this is where talking about it earlier, controlling what
(12:19):
we can control, Right, there's certain things that are out
out of our.
Speaker 2 (12:23):
Control future returns.
Speaker 1 (12:25):
You know what the market's going to do over the
next day or week, or month or year. But we
can put good plans in place to help, you know,
try to achieve these goals. Understanding what we're trying to accomplish,
find the right risk reward measures that make the most
sense in these circumstances, and do what we can to
(12:45):
you know, try to accomplish those. So Mary, again appreciate
the call. Thank you for sharing that and really irrelevant topic,
especially as again we're talking about what interest rates are
doing and in the direction of you know, the potential
FED move in a couple weeks, and so very relevant
to today's conversation. Again, our phone lines are open if
(13:05):
you have questions with anything involving your personal maybe financial situation,
retirement questions, planning questions, or just to talk about markets
and what we're seeing in the economy. Can we call
one eight hundred talk WGY. That's one eight hundred eight
two five five nine four nine. And as we said,
(13:28):
you know, as kind of a lead in right, we
are expecting. We saw it yesterday, we saw it this
week when you think about the market. So markets had
a you know a little bit of an up and
down week, but you know, buy and Large, the S
and P and the Nazak finished the week up. The
Naszak was up about a one percent. The S and
P was up aboutero point three percent, so not up
much in the markets did fall a little bit to
(13:50):
end the week on Friday, but we did have some
ups and downs right we started the week. Some of
the uncertainty going back to Terrace. We you know, I know,
nothing has been set in stone with the tear offf
conversations and with some of the negotiations around the world,
especially with some of our largest trade partners, right you
think about China, you think about India. We've deferred some
(14:13):
of these conversations or we've pushed back some of these deadlines,
but a lot of it has been you know, in
the talks. Not a ton of clarity. But I do
think the general understanding was that we'll get a deal
done in some capacity. May not be what was outlined
back in April right during the Liberation Day, may not
(14:38):
fall exactly in line there, but I do think the administration, right,
they want some deals, but they also don't want to
see the economy or the markets collapse, so they're going
to do what's you know, at the end of the day,
I do think they're going to do what's best for
the markets because they do measure a lot of the
success of the administration and what they're doing with the
stock market success, and you know that is tied to
(14:59):
the I mean, it's that's number one probably issue to
most Americans, most voters, so it is obviously important. So
I do think even though we didn't have full clarity
of what was happening in what light ahead, we we
had a feeling that these things will work themselves out,
we'll get to some good resolutions, and we'll have deals
(15:21):
in place. Well, you know, there has been a little
bit of a change to some of that with courts
ruling that some of these terrorists were unconstitutional, So what
happens there and right the week started actually with some
high volatility in terms of you know, the uncertainty around that, right,
are we going to have to repay the terrorists that
(15:42):
we brought in? And you know, maybe compared to what
our federal deficit deficit and h our you know, our
annual budget deficits in national debt not a huge dent
into it, but you know, there were upwards of closing
a lot of different numbers being thrown around, but clost
of two hundred billion potentially in tarrifs that we've collected
(16:03):
that you know now they may need to be paid
back depending on how this plays out. I know the
administration wants it to be expedited through the Supreme Court
to get resolution, and rightfully so, we do need resolution
on it. But that just creates another level of uncertainty.
So we saw volatility to start the week. Then as
(16:23):
the week went on, we had some good news with
Google and Apple a little bit of clarity on some
of their court cases when it comes to the monopoly
of using Chrome and Safari as a default search engine
on Apple devices. And I don't have it in front
(16:43):
of me right now, but the net income that Apple
derives from Google's exclusivity deal as a search engine on
those devices is quite large for Apple. I mean it's
at least ten percent. It may be to like seventeen
percent I think of true bottom line, and that's nothing
(17:04):
that gets impacted by margin. So this was a historic
sort of precedent and outcome in this space. So you
see Google really kind of helped lead the charge, and
I think this is why we're seeing the NASAC do
so well this week in comparison to the rest of
the markets.
Speaker 2 (17:22):
Is that big news out of there.
Speaker 1 (17:24):
We know these companies make up a huge percentage of
you know, both the SMP than NASDAC. They've grown so large.
So it was a good driver midweek for the markets.
And then, like I said yesterday, we closed the week
down a little bit. It wasn't as bad of a
selloff as it maybe could have been, and it was
at one point during the day, but the news out
(17:46):
of the August jobs report certainly drove the markets lower
to end the week. So a lot of headlines, a
lot that was driving the market. And we'll get a
little bit more into what that August jobs report meant,
some of the things that we're talking about in what
we're sharing with our clients. And so we're going to
(18:06):
go to a short commercial break, and when we come
back again, let's talk a little bit more about the
August jobs report, some of the what we're focused on
beneath the surface, how we should be interpreting that data,
what it means for the markets moving forward, and then
we'll take it into a conversation of the FED and
in some planning topics that you should be thinking about
(18:28):
during these times. Again, our phone lines are open before
I go to break, If you want to give me
a call one eight hundred Talk WGY. That's one eight
hundred eight two five, five, nine four nine. Look forward
to catching up after the break. You're listening to Let's
Talk Money here at eight ten and one O three
one WGY. And welcome back to Let's Talk Money here
(18:49):
a eight ten and one O three one WGY. I'm
Ryan Bouschet, Glad to be here with all of you today.
Appreciate all the listeners tuning in. You're a regular listener
or new to the show. Always great to have you here.
It's always great to have you part of the program.
So if you do have any questions, if you want
to give me a call, talk about the markets, talk
(19:10):
about the economy, talk about something in your own personal
financial life, please do give me a call. One eight
hundred Talk WGY one eight hundred eight two five five
nine four nine. And again, big news from yesterday August
jobs report which came in, came in low, right, came in.
Expectations were for about seventy five thousand jobs being created.
(19:32):
We had about twenty two thousand jobs being created.
Speaker 2 (19:35):
And so actually, and.
Speaker 1 (19:38):
Before we get too far into that, I will direct
you if you want to take a look at I
put out a little bit of a newsletter yesterday to
our clients. You can find that at our website. You
can go to Bouche dot com. That's Bouche dot com.
Under our insights, you'll see the Bouche blog. You can
take a look there. And you know, we talked about
and then shared with clients just this path that now
(20:01):
is emerging.
Speaker 2 (20:02):
Right.
Speaker 1 (20:02):
We you know, sometimes we get a one off reading.
Maybe it's a coincidence, maybe it's you know, just bad data.
Speaker 2 (20:11):
Right.
Speaker 1 (20:12):
The President fired the last labor head of the labor statistics.
We were told that this month's was going to be
the most accurate ever. And I don't know if that's
the news that Howard Lutnik wanted to lead in with
yesterday before the report was released. But like I said,
(20:32):
we only created twenty two thousand jobs, pretty weak reading
all things considered, and not any major revisions.
Speaker 2 (20:41):
Right.
Speaker 1 (20:41):
If you remember July's jobs report, the big news and
the big headline out of there was even though we
had some weakness for July, it was the revisions from
the months before that we're up in the hundreds of
thousands that we reported lower, which was a big shock
to the system. Markets traded down that day as well,
and for the next few days as a sign of
(21:04):
a maybe weakening economy, and then yesterdays again the headline was,
you know, again week twenty two thousand, what we weren't
expecting a lot. Seventy five thousand is well below what
we've been seeing the last few years. But you know,
no major revision, some revisions lower. You know, you look
back even June now they revised it to where we
(21:26):
actually lost you know, we had a net loss of jobs,
about thirteen thousand jobs for June. So that was kind
of an eye opener. And I do think now that
we've had multiple months in a row of some weakening
and softening in the labor markets. The unemployment rate now
is up to four point three percent, and we're starting
(21:48):
to see a pattern. And so what does that mean
as we move forward? What do we have to be
aware of? Right, So, we're seeing slowing wage growth. This
was the slowest first eight months since two thousand and nine, right,
So again not just the last month or so, but
the start of the year, the first two thirds of
(22:09):
this year is the weakest that we've seen from a
job's creation standpoint in over fifteen years, and so these
things again we have to be aware of of. You know,
what does this have as an impact to our economy,
how does this impact the markets?
Speaker 2 (22:26):
And what are we going to see ahead? Right?
Speaker 1 (22:29):
I discussed, like I said on I was on Spectrum
News last night, just talking about how this is such
a backbone to our overall economy, right, what the labor
market is doing and oftentimes historically speaking at least I've
used this phrase before, but you see unemployment comes, They
use this saying it comes down like an escalator, rises
like an elevator. And sometimes when unemployment changes in the
(22:51):
labor market shifts, you can see a pretty quick jump
in terms of slowing of job growth. And you know
the impact on the economy, and so taking the step back,
is this part of a sort of delayed impact from
the uncertainty around tariffs? Is it more of a sign
(23:14):
of a weakening economy, a recessionary economy? You know, it's
hard to say exactly. I do think there's some good
news in all this, and we're getting close to our
news breaks, and when we come back, we'll talk a
little bit about kind of what lyne beneath the surface
of this latest report, what it means for the markets,
what it means for investors, and how we're interpreting and looking.
Speaker 2 (23:37):
At all of the data along with it.
Speaker 1 (23:40):
So when we come back again, we'll talk more about
the economy, the jobs report, and anything you may have
questions on. You're listening to Let's Talk Money here in
eight ten and one O three one WGY. Stay with
us through the news. We'll talk to you soon and
welcome back to Let's Talk Money here in eight ten
and one O three one WGY. I'm Ryan Bush and
(24:00):
we'll be with you for the second half of the show.
Glad to be with all of you, and thanks again
for tuning in. Always great having you be a part
of the show. So if you want to give me
a call and ask any questions you may have, you
can do so.
Speaker 2 (24:14):
One eight hundred talk WGY.
Speaker 1 (24:16):
That's one eight hundred, eight two, five, five, nine, four nine.
And so as we enter you know, I guess fall
and maybe not officially fall, but starting to feel more
and more like fall in September, right, we're starting to see,
you know, maybe a little bit change in in some
(24:37):
of the economic data then that we've been used to,
right we've we've talked a lot about this with clients
on the radio and just sort of this theme of
having a disconnect between sentiment and reality and ever since.
You know, there was a there was a lot of
optimism around the election cycle. Towards the end of the year,
(24:59):
begin think of the year and you know, I think
rightfully so right Trump administration really looking to come in,
jumpstart the economy, put in some of the initiatives that
are business friendly, all good things, and you know, when
we look back historically, most you know, presidential cycles have
been positive for the stock market. The stock market's mostly
(25:20):
up on an annual basis, it's up three quarters of
the time. You go further out, you get you hit
five years, and it's closer to ninety percent of the
time the market's up. So if you think of presidential terms,
that kind of aligns with a positive outlook for stocks.
But there was a lot of optimism, and as we
got into March and April, there was a little bit
(25:42):
of a change there and that had to mainly do
with tariffs. And again, whether you believe they're good long term,
they'll be a positive for the economy in the markets.
You know, I think to be determined still, but at
the end of the day, sentiment came down, right, this
business owner sentiment, consumer sentiment, CEO sentiment, whatever it may be.
(26:06):
We started to see a real fall off there, but
economic data continued to be strong. We continue to see
strong consumer spending. We started, we continued to see earnings
growth in corporate America. I mean, things were good in
the market. Reflected that we had a nice bounce back
after the pullback early on in April. We started to
(26:29):
see a good recovery in the markets. And this was
all positive, right, but we are starting to see all
of a sudden some cracks in the economy. And again
this may be just sort of a delayed response and
delayed action from what transpired this spring with tariffs and
the uncertainty surrounding that. And you know, as bad as
(26:51):
maybe yesterday's labor report belt or looked and the surface
again we only created about twenty thousand jobs, was at
a negative.
Speaker 3 (27:01):
You know.
Speaker 1 (27:01):
The one silver lining that I think we can take
out of it, and I think, you know, kind of
points back to maybe again this uncertainty around global trade
is we weren't seeing massive job cuts and that's a
good thing. Right, we're seeing mostly as kind of this
hiring freeze environment. There's just not a lot of hiring
(27:23):
or firing taking place. And you know, I do think
that's a more of a positive sign. Typically, when you
see the labor market really starting to slow down, you
tend to see a little bit more of a you know,
firing environment, layoffs are elevated, you start seeing that more
and more, whereas right now you're not seeing that at
(27:44):
a wide scale, you're not seeing that across the board.
What you're seeing mostly is kind of a hiring freeze.
So I do think that's a little bit of a
silver lining here, and I do think we could still
be again seeing sort of this delayed response to the
uncertainty around terrorists, because again, it takes a long time
for these too filter into our environment, our economy, whether
(28:10):
it's through small businesses and the impact there larger businesses.
I do think there has been a sentiment around you know,
if you look at Wall Street versus Main Street, that
Main Street sort of being a little bit slower to
higher right now, and those that was the sentiment in
a lot of those surveys that were coming back. And
(28:31):
so it's not entirely surprising, probably more surprising that it
took this long to see an impact there because you know,
anecdotally especially but even through those surveys, you saw how
negative some of the sentiment was. And so again it's
not necessarily unsurprising that we're seeing it. Maybe it's the
bigger surprises it's taken this long to see. So where
(28:53):
do we go from here and what does that mean
moving forward? Well, you know, I think when you think
about the FED and what they're going to do again,
the FED has been in the headline so much lately
with regard to Trump the administration. Certainly they've wanted rates
to come down. And like I said, we saw the
FED lower rates last year. It's not like they haven't
(29:15):
lowered rates, and believe it or not, I really just
didn't have much of an effect on the longer term
trend or the longer end of the curve. When the
FED actually lowered rates by one percent, the ten year
yield rows by one percent, So we kind of saw
an opposite effect there. But we are seeing the ten
year yield come down this week in particular strong sellof
(29:40):
or you know, I guess more of a you know,
buying of treasuries wasn't so much a selloff, it was
just a lowering of yield. Right, as prices go up,
yield comes down. And we went from last week ten
year yielding about four point three percent at one point
to yielding as of YESTERDA is closed about four point
(30:01):
zero eight five. So pretty big, pretty substantial drop almost
twenty five basis points this week in the ten year.
And so if you're you know, borrowers, if you're a
business owner, if you're just a borrower maybe looking at
homes from a mortgage, a car loan, whatever it may be,
(30:23):
it's good for those folks, right, that's where the biggest
impact will have from a borrowing standpoint. That tends to
be kind of the benchmark for a lot of our
lending rates and standards. So that's good for anyone in
those markets and maybe just consumers as a whole. You know,
(30:43):
at this point, it's almost a certainty that I think
the Fed will lower rates. They next meet in about
ten days. They're meetings September fifteenth and sixteenth, and so
at this point it's it's almost a foregone conclusion that
they will be lowering rates. You know, talking to Mary
and her call earlier. And again our phone lines are
open if you want to give me a call one
(31:04):
eight hundred talk WGY. That's one eight hundred eight two
five five nine four nine. Do so give me a
call if you have any questions or want to talk
about you know, your situation or the economy and markets,
and you know, thinking about folks that are maybe sitting
in cash, been getting some good yield for quite some time,
(31:25):
you know, those yields are probably going to be dropping.
You know, it's it's not out of the question that
they could drop a half a percent in September. Most
likely will be dropping by zero point two five percent.
But I also saw even just overnight with the futures expectation,
that expectation for the next three FED meetings to close
the year is that they're going to be cutting rates
(31:46):
each and every one of them. So expectations are probably
for you know, anywhere from a half a percentage point
to a full percentage point of interest rates at least
the FED funds rate lowering between now in year end
before twenty twenty six. And so how do you plan
around that? What's the impact going to be? Like I
said last year when the Fed lowered rates actually spurred
(32:08):
higher rates on the longer end of the curve. I think,
you know, at that point we had probably stronger economy,
you know, a little bit higher inflation. That's what can
help keep rates higher on the longer end of the curve.
That are more in that, you know, natural yield perspective
and natural rate of interest of the overall market versus
(32:31):
what the FED is doing and what the FED can control.
But we are seeing a you know, some downward pressure
on rates right now, and you know it'll be interesting.
We do have a CPI a inflationary report coming out
next week. I don't think it's going to matter for
the Fed. I do believe with this latest jobs report
there their hand is forced at this point.
Speaker 2 (32:53):
They will need a lower rates.
Speaker 1 (32:57):
Even if inflation stays a little bit stubbornly high, which
it has been. I don't think they can dismiss what
we're seeing in the labor market in the labor reports.
They will probably be forced to lower rates, but they
do have you know, it's a trickier situation than what
they've been accustomed to, right because you have two opposing
(33:19):
ends of the spectrum of what the Fed's dual mandate
is between keeping unemployment low and keeping inflation at about
two percent. Right, those are moving in opposite directions right now. Well,
I guess the rates are moving in the same direction.
But in terms of what the FED can do to
(33:40):
help each one of them, right, they would have to
increase interest rates to stop inflation, lower interest rates to
help spur economic growth or labor growth. And so they
are certainly at a crossroads. But I do think right now,
I think the most important thing for them is labor
and the economy. And so again, when we think about
(34:02):
what's ahead, if the FED is going to be lowering rates, right,
how does it affect you as a consumer, But how
does it affect you as a investor? And what is
the impact of the FED cutting rates? And historically speaking,
I think it's it's hard to tell right now. I
think when you take a step back, you can look
(34:25):
at what's happening now and I think there's you know,
probably three different outcomes, three different scenarios that we can
move into in this type of environment. Right we don't
fully know what's going on. Again, we can take and
extrapolate the data that we have at our disposal now
right we're seeing slowing of labor, but we still see,
(34:49):
you know, relatively strong economy. Second quarter GDP, those numbers
came in revised pretty strong a few weeks ago, over
three percent. The trend for the third quarter so far
has been relatively strong as well. We're not seeing major
drop off in consumer spending, although I will say when
you take a look at earnings season, by and large,
(35:12):
earning season was pretty strong, pretty good. I know, we
had one bad week with a lot of the big
retailers not coming in great or maybe their outlooks weren't great.
You think about Walmart, you think about Target, who else
was in there at the time. I know there was
a third I'm kind of blanking on it now, but
(35:34):
maybe it was Home Depot or Lows or maybe a
combination of the two, where again maybe they were missing
the mark. But outlook wasn't as strong as was being
hoped for now we don't know what the future holds
per se, but that did hurt, you know, I think
that was kind of some signs of maybe a weakening consumer.
But by and large, you know, corporate America and in
(35:58):
earnings have been have been pretty strong, so so there's
still a lot of positive momentum, and you know, not
we haven't even talked about this positive momentum for AI
and and how that is a driver right now of
the markets and what's ahead.
Speaker 2 (36:11):
So there are reasons to be optimistic. It's more of
what what is? What has this latest trend in labor? Again?
Speaker 1 (36:21):
Is that is that a one off? Is could this
be temporary with regard to tariffs and the uncertainty there
or is it a longer term issueing can the FED
step in and help? And again you want to talk
about any of these topics can be called one eight
hundred talk WGY that's one eight hundred eight two five, five, nine,
four nine. But when we look at it right from
(36:45):
a historical context, typically when the Fed is lowering rates,
sometimes we see a nice little boost. We saw it,
you know, even to start the day yesterday, we saw
a quick boost in the markets. I think maybe with
anticipation that the Fed will lower rate, But you know,
it really is dependent on what's driving the Fed to
lower rates and whether or not, historically speaking, that's good
(37:08):
for markets when we take it in the aggregate, typically
speaking in a easing environment. In an easing environment is
when the FED is lowering rates, we do typically see
stocks not do as well. That's typically a bad time
for stocks, good time for bonds. Right, If yields on
bonds are coming down, that means their prices are going
(37:29):
up again. We saw it this week with fixed income.
It was a good week to be bond holders and
locking in some good yield if you've had it. That's
a good you know, for a diverse five portfolio. I
know bonds have kind of gotten beaten up over the
last few years and maybe doesn't get the love that
maybe they deserve. But as we've been talking with clients
(37:51):
over the last twelve to eighteen months, we've been at
eighteen nineteen year highs from a yield perspective. Recently, to us,
that was good time to own bonds and to get
into bonds and lock in some of those yield, especially
on an intermediate to longer term perspective, because again, if
you were relying on the five percent federal funds rate,
(38:12):
you know, which you could get in money markets as
of last year at some points, right, all of a sudden,
that's going to be coming down probably to the mid
threes by the end of this year. So locking in
rates even if you were getting lower rates over the
last twelve months to lock it in for seven to
ten years. Is locking in four and a half four
and three quarters percent for seven to ten years better
than having the short term five plus percent. But now
(38:35):
all of a sudden, that's going too closer to three
three and a half percent. So it's all about finding
that right balance and what works for you and what
your cash flow needs. But again taking a step back
in terms of the FED lowering rates, historically that has
not been good for stocks. But the reason being is
that the FED is typically lowered rates to help stimulate
(38:56):
the economy. So there's been issues within the economy maybe
reset that's when you will see the FED lowering rates,
and so it's it's pretty clear why that has been
bad for stocks. It's not necessarily that lower rates are
a bad thing for socks. It's just the environment of
why rates were lowering has been the catalyst there. And
(39:16):
so you know, when you think about lower rates, that
should help stimulate the economy. That's what it's intended to do.
When your lower rates makes you borrowing cheaper and hopefully
that stimulates the economy. And so where we go from here,
you know, I almost see it in what we're talking
about extensively as an investment committee is kind of these
three paths from here, right, Is this more of an
(39:39):
extension of lowering rates because we're getting a little bit
more of a soft landing environment similar to what we
saw last year, similar to what we saw back in
the mid nineties before the bubble burst towards the end
of the nineties early two thousands. What we saw in
the mid nineties was again a slowing economic environment with
(40:04):
a easing policy, so you know, they they had that
soft landing that again you see a little bit of
a slowing economy, but not a recessionary economy, and that
turned into be you know, a good time even with
lower rates. That helped stimulate, that helped keep the economy going.
And we saw that, like I said, mid nineties, similar
(40:26):
timeframe for that. We also saw it last year a
little bit where we talked a lot about kind of
what that what that soft landing looks like. The other
I guess kind of outcome right now is you know,
a recession, you know, and I don't know if we're
necessarily in that camp. I don't think we're quite there yet.
(40:46):
Even with the slowing labor number. But again, you know,
oftentimes when the FED is cutting rates, it's due to
a recession. So you know, if you were to see
a more recessionary environment and maybe the FED being late
to the game, as as President Trump has been alluding to,
then you could see a bad environment for stocks where
(41:07):
I kind of you know, where we're probably leaning most
towards in terms of where the outcome is from here
or what the future holds. It's kind of this you know,
slowing growth which we've been seeing with you know, stubborn inflation,
and you know, I don't think it's it's necessarily a
(41:28):
stagflation full stagflation environment, but this sort of like light
stagflation environment where again inflation's sticky, maybe that is eating
a little bit into economic growth. We are seeing slowdowns, right,
We're seeing it in the labor market, we're seeing in
some other areas of the economy, but still a relatively
strong foundation. And if some of this labor becomes temporary,
(41:51):
again driven by some of the uncertainty with tariffs, then
we may be in this sort of uh, you know,
sideways environment in the near term, right, with lowering rates
which can help stimulate the economy, but we're we are
experiencing some uncertainties, some slow downs that we need to
get through. And again we are also dealing with you know,
(42:11):
pretty elevated stock valuations at this time, so you take
that into account. And so what we're doing is assessing
the portfolios. Are we having exposure to the right areas
of the market, are we you know, overweighting to the
areas of where we think that thesis lies in terms
of what we see the outlook from here. But what
we do know is that FED will be lowering rates
(42:35):
and we have to you know, create the right balance
within the portfolios to you know, adhere to the environment
that we're in. And you know, that's something that we
do on a weekly basis. We had we actually had
a meeting yesterday morning following the labor report just to say, hey,
(42:55):
are we really positioned to do what we want to
do in the portfolios? Do we have that proper balance?
Are we allocated in the right way? And is every
you know, position in that portfolio you know, doesn't have
that intentionality? What is the purpose of what we hold
within the portfolio? And that's something that we feel really
good about. But we're all we're also always assessing as
(43:20):
information changes, data changes, as we get new information, so
really important to us and really important to our investment team.
So with that, why don't we go We'll take one
short break before the end of the show. When we
come back, we can talk about, you know, things, maybe
decisions that you can be making, things that you can
be doing to take control of your own financial situation
(43:43):
with some of this uncertainty out there. So if you
do have any final questions before the show ends, give
me a call one eight hundred Talk WGY. That's one
eight hundred eight two five, five, nine four nine. You're
listening to Let's Talk Money here on eight ten and
one oh three to one WGY, And welcome back to
Let's Talk Money here in eight ten in one o
three one WGY. We are in the home stretch. We've
(44:07):
got a few minutes left of today's show. Appreciate all
the listeners tuning in.
Speaker 2 (44:11):
UH.
Speaker 1 (44:12):
If you do have any questions before we are are
done for today, give me a call one eight hundred
Talk WGY. That's one eight hundred eight two five five
nine four nine. If anything that we've discussed or brought
up has peaked any curiosity or peaked. Any questions again,
give me a call one eight hundred talk WGY one
eight hundred eight two five, five, nine four nine. So
(44:37):
when we think about this environment a little bit in
discussing you know, what lies ahead again, we can we
can take all the data we can, we can put
it together and have a good understanding of where we're at.
But future is always a little uncertain. We can never
you know, be fully certain of what lies ahead, and
so making smart financial decisions, coming up with plans and
(45:01):
doing you know, as I always say, controlling what we
can control makes such a big difference as as we
look to what lies ahead of us. You know, we
had a good conversation internally yesterday. We've we've talked about
it here. But our use for for some clients that
it fits their situation. You know, this is for probably
(45:25):
more high net worth complex situations. But you utilizing, uh,
some of the tools that we've used internally, you know,
direct indexing one in particular that comes to mind. It
is such a great approach, especially when markets are volatile
like this, and direct indexing gives us the ability to
(45:48):
and in the way we use it in our partner,
we're able to mirror our ETF portfolios. We've always talked
about how much we love ETFs. We love the diversification,
we love the tax efficiencies. It's a great way to
the costs. It's a great way to enter the market
in areas of the market in a way that really
(46:08):
aligns with our investment philosophies and how we manage wealth
for clients. But direct to indexing kind of takes that
even a step further where we can mirror our client allocations.
We can mirror our client portfolios from the equity side,
but do so in a way of capturing individual stocks,
(46:30):
but having the technology infrastructure to continually, you know, when
positions are down, sell, capture losses, keep tracking the market
or the portfolio we're trying to track, but do so
in a way that is so beneficial. We're and we're
seeing it with you know, a year like this year
where we have had volatility earlier in the year and
(46:52):
most likely we'll probably see a little bit more volatility
from here on out. It really adds a lot of
what we call tax outfit to the portfolio. You know,
being able to capture those losses gives us the ability
to you know, offset gains in the future or now,
and again that adds what we call tax alpha, so again,
(47:14):
controlling your tax situation. We invest so much into our technology,
whether it's partnering up on a solution like that, using
our tax planning and preparation tools. I mean, these are
things that again add so much value to our relationships
with clients and that we know we're taking the advantage
of situations even though it kind of feels or can
(47:35):
feel a little bit uncertain. So I thank you all
again for tuning in today at a great show, a
lot to talk about. We'll be back tomorrow Sunday at
eight am for an hour so you can catch us
there as well. And like I said, thank you so
much for tuning in. I hope each and every one
(47:56):
of you has a great rest of your weekend and
appreciate you listening to Let's Talk Money here on eight
ten and one O three one w G Y, take
care and have a great rest of your weekend.
Popular Podcasts
NFL Daily with Gregg Rosenthal
Gregg Rosenthal and a rotating crew of elite NFL Media co-hosts, including Patrick Claybon, Colleen Wolfe, Steve Wyche, Nick Shook and Jourdan Rodrigue of The Athletic get you caught up daily on all the NFL news and analysis you need to be smarter and funnier than your friends.
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com