“the AI theme is doing extremely well.” – 05:03
Chris Versace, CIO of Tematica Research, joins Remy Blair to discuss the current state of the U.S. economy and the implications for the stock market as we kick off a new trading week. Chris shares his insights on the latest jobs report and its surprising revisions, which have raised concerns about the true speed of the economy.
The pair begin the discussion breaking down the disappointing jobs report released on Friday, which showed a gain of only 73,000 jobs, along with significant downward revisions for the previous months. This has led to a slight uptick in the unemployment rate to 4.2 percent, prompting economists to voice concerns about stagflation. Chris emphasizes the importance of triangulating the data from various reports, including the private and public sector employment figures.
Chris explains that while some progress has been made in trade negotiations, the higher tariff rates compared to January will likely lead to inflationary pressures that consumers will start to feel.
Finally, the discussion wraps up with a look at the current state of the S&P 500, discussing key levels and moving averages to watch as the market navigates through a period of elevated volatility. Chris provides valuable insights on potential buying opportunities as we monitor the market’s movements.