Good morning!

Last week, softer-than-expected inflation, strong retail sales and a drop in unemployment claims helped the S&P 500 clinch its best week of the year, fueling recovery and optimism in the markets. Here's what's happening this week...

• It's still an earnings-driven market, with more than 350 companies reporting this week--light for earnings season--but they include several key retailers which will help gauge consumer spending for Q2. This morning, numbers are due from Lowes, Medtronic, Alcon, and Toll Brothers, followed Wednesday by Target, TJ Maxx, Agilent, Zoom, Macy's, and Urban Outfitters. Thursday numbers are due from Intuit, Ross Stores, NetEase, Dollar Tree, B.J.'s, Advance Auto Parts, and Peloton, followed by yet another very light Friday. *

• U.S. stocks remained relatively stable in early Tuesday trading, extending the longest winning streak on Wall Street since November. Investors are capitalizing on the market’s August rebound, driven by diminishing recession fears and potential Federal Reserve interest-rate cuts. Stronger-than-expected data on consumer spending, job creation and business activity have combined to drive bets that the economy will avoid recession between now and year-end. Wall Street is anticipating quarter-point rate cuts from the Fed at each of its three upcoming meetings. The annual Jackson Hole Economic Symposium kicks off on Thursday, and Fed Chair Jerome Powell's remarks on Friday will be scrutinized closely for clues regarding the U.S. central bank's path from restrictive to neutral monetary policy. **

• Last week’s massive data breach at National Public Data exposed the personal information, including Social Security numbers, of millions of Americans to cybercriminals. The breach, which occurred late last year, was acknowledged by the company on its website last week, noting potential leaks of certain data in April 2024 and summer 2024.The compromised data spans at least three decades, and the inclusion of Social Security numbers has sparked significant concerns. Pentester, a cybersecurity firm, has set up a tool to let you see if your data was part of the breach. You can go to npd.pentester.com, enter your first and last name and birth year, and see a list of breached accounts, including the last four digits of the leaked Social Security numbers (Be sure to so a search for each state you have lived in). NPD is advising people who might have been affected to closely monitor their financial accounts. It’s also a good idea to set up credit monitoring to ensure no one is using your personal information—and contact one of the three U.S. credit reporting agencies (Equifax, Experian, and TransUnion) to set up fraud alerts on your accounts. ***

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.