The Morning View: January 8, 2021

Announced this morning, the economy lost jobs in December, falling -140,000, which is the first negative monthly print since April.  The Retail Trade and Construction industries were strong, while Leisure and Hospitality was very weak.  The Unemployment Rate held steady at 6.7%, a bit better than expected.  Average Weekly Hours were fell one-tenth to 34.7 in December, highlighting some strain in the labor economy in recent weeks.  Overall a weak report, with a negative headline number that has continued to deteriorate in recent months and the unemployment rate held steady.  Despite the contemplation of additional fiscal stimulus efforts and vaccine distribution is underway, the labor market remains under pressure, highlighting the importance of these actions to get to an economic recovery.  In all, bond yields are little changed and equity futures are higher heading into the market open.

 

 

This material is intended to be for informational purposes only and is intended for current or prospective clients of Argent Trust Company. This information is obtained from sources believed to be reliable, and its accuracy and completeness are not guaranteed. Information does not constitute a recommendation of any investment strategy, is not intended as investment advice, and does not take into account all the circumstances of each investor. Forward-looking assumptions are Argent Trust Company’s current estimates or expectations of future events or future results based on proprietary research and should not be construed as an estimate or promise of results that a portfolio may achieve. Actual results could differ materially from the results indicated by this information. Investments can go down as well as up. Past performance is not a reliable indicator of future results.

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Heritage Trust

In 1998, a group of trust officers and customers came together to form an alternative to big bank trust departments for those desiring unbiased and independent counsel with a high level of client service. Building from that core, Heritage provides an array of related financial services.

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The Morning View: January 21, 2020

The Morning View: January 21, 2020

Announced this morning, Initial Jobless Claims were 900,000 for the week ending January 16th, and Continuing Claims were 5,054,000 for the week ending January 9th.  Both were decreases from the previous week, but levels remain elevated.  Meanwhile, the European...

The Morning View: January 15, 2021

The Morning View: January 15, 2021

In this morning’s data, Retail Sales for December fell -0.7%, worse than expected.  Non-store Retailers, Electronics & Appliances, and Food Service & Drinking Places were especially weak, while Gasoline Stations showed some strength.  The Control Group, which...

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