Good morning!

I have a really interesting webinar coming up this Thursday, August 8, that you won't want to miss, Securing Tomorrow: Unleashing the Power of Cybersecurity Investments. I'll be talking about the explosive growth of opportunities in the cybersecurity space. With the complexity of securing data surging thanks to cloud computing, remote work, and defense technologies, there's a strong and growing demand for digital security services.

Can't make it? Register anyway to receive a link to the webinar after it concludes so you can watch it at your leisure. Feel free to share this invite with anyone you know who you think could use some expert insights into investments in cybersecurity.

This Thursday, Aug 8 @ 10 a.m. PDT

RSVP now to join live or

watch it later at your convenience!

Wow! This week started off with a bang, with the Dow Jones average plummeting more than 1,000 points on Monday. Is this a market correction or a signal indicating the start of a recession? Here's what's happening...

• They're calling it Black Monday. At least that is what pundits are saying about yesterday's dramatic plunge of U.S. stocks amid a global market rout, all tied to recession fears, overbought tech stocks and rising political risks. The collection of risks across a host of asset classes is adding speed and depth to the global selloff, which is being worsened by thinner-than-usual volumes in the traditionally quieter month of August. Perhaps the most significant factor to the market tailspin is the Fed's decision to hold its benchmark lending rate steady between 5.25% and 5.5% last week. Investors didn't like the Fed's reluctance to commit to a September interest rate cut and seem to think the central bank made a big policy error in keeping the Federal Funds rate so high for so long. That's despite inflation pressures continuing to ease toward its 2% target and underlying weakness in the job market becoming evident. Muted near-term outlooks from 4 of the Magnificent 7 stocks--Google, Amazon, Apple, and Microsoft--have accelerated selloffs as well. Throw in global oil prices weakening for the past month and the possibility of direct conflict between Iran and Israel, and you have the perfect storm for Monday's meltdown.* One possible bright spot: at least some industry analysts think the Fed might step in with an emergency rate cut in the coming weeks. **

• Despite the turmoil in the markets, earnings season rolls on, with more than 1,000 companies reporting this week. This morning numbers are expected from Amgen, Caterpillar, Uber, Airbnb, Duke Energy, and Marathon Petroleum, followed Wednesday by Walt Disney, CVS, Novo Nordisk, Shopify, Occidental Petroleum, and Emerson Electric. Thursday earnings are due from Eli Lilly, Alibaba, and the Brookfield Corporation, wrapping the week up Friday with numbers from VinFast Auto, Legend Biotech, and Getty Images. ***

• On Wednesday, the Federal Reserve reports consumer credit data for June. Total outstanding consumer credit rose at a seasonally adjusted annual rate of 2.7% in May to $5.06 trillion. Revolving credit, which primarily consists of credit card debt, saw a rise of 6.3%. Meanwhile, nonrevolving credit, encompassing debts like auto and student loans, witnessed an increment of 1.4%. Fed officials have been closely watching consumer spending trends, which helped boost the economy during the pandemic recovery but have also made it harder to bring down persistent inflation. ****

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.