Good morning!

I hope you enjoyed your long Labor Day weekend. While that makes for an abbreviated week in the markets, it's not without some key economic reports and the tail-end of a volatile earnings season. Here's what's happening...

• As Q2 earnings season winds down, there are a handful of crucial reports to watch this week. On Wednesday, Hewlett Packard, Dick's Sporting Goods, Dollar Tree, and Hormel Foods post earnings, followed Thursday by Broadcom, DocuSign, Toro, and Shoe Carnival. Friday numbers are due from up-and-coming Vietnamese automaker VinFast, as well as Genesco, and troubled Big Lots. *

• The U.S. jobs report for August is on tap this week, with Friday's numbers expected to show unemployment decreasing to 4.2% and non-farm payrolls increasing to 165,000. That's good news and a sharp pivot from July data, which indicated an unexpected unemployment increase to 4.3% and a drop in non-farm payrolls to 114,000. **

• Last Friday’s PCE inflation data suggests the Fed is likely to cut rates three times this year by 25 basis points each, according to the CME FedWatch Tool. However, investors are still considering the possibility of a more aggressive 50-basis-point cut if this week’s August employment data indicates further slowing in the labor market. ***

• September has historically been a challenging month for traders, with stocks, bonds, and gold often experiencing losses. This year, the situation may be even more volatile due to uncertainties surrounding the Federal Reserve’s anticipated interest-rate cuts. The S&P 500 and Dow Jones Industrial Average have seen significant losses in September since 1950, and bonds have declined in eight of the last ten Septembers. Investors are particularly focused on Friday's U.S. jobs report, which could influence the Fed’s monetary policy decisions. With four quarter-point rate cuts expected by year-end, any deviation from this outlook could lead to significant market swings. The market’s current reliance on a few mega-cap tech stocks adds to the vulnerability, making it susceptible to rapid declines if these stocks falter. ****

The financial advisors at Miramontes Capital diligently keep up with anything that can impact our clients' finances and tap into more than 175 years of combined investment experience. We do our all to keep your money protected and growing. If you think you might benefit from our financial experience and oversight, contact us today for a FREE, no-obligation consultation. Just call (800) 460-1595. Until next week...

Investment Advisory Services offered through Miramontes Capital, LLC. Securities offered through Balanced Security Planning, Inc. Member FINRA/SIPC. Miramontes Capital, LLC and Balanced Security Planning, Inc. are separate companies affiliated through common control. This newsletter is solely for informational purposes. Advisory services are only offered to clients or prospective clients where Miramontes Capital, LLC and its representatives are properly licensed or exempt from licensure. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be rendered by Miramontes Capital, LLC unless a client service agreement is in place.