From Your Wallet to Wall Street: How Tariffs Are Playing Out

Welcome to this week’s Market Commentary with RFG Advisory’s Chief Investment Officer, Rick Wedell!   

This week’s focus: What’s driving the latest market movements, and what does it really mean for investors?  

The S&P 500 remains up 8.7% year-to-date, but a 1.4% pullback over the past week has many zeroing in on inflation, jobless claims, and the Fed’s next move. In today’s update, Rick unpacks: 

  • How tariff revenues have ramped up in recent months, and why the effects are only now working through the economy 
  • Whether U.S. companies are absorbing costs, passing them on to consumers, or seeing profits squeezed 
  • Why the Producer Price Index just spiked to a record level 
  • What rising jobless claims signal, even as unemployment holds at 4.2% 
  • The Fed’s growing focus on inflation risks (and what Jerome Powell may reveal at Jackson Hole) 

If you’re watching for signs on rates, inflation, or the broader economy, this week’s commentary connects today’s data with tomorrow’s potential market moves. 

Tune in to the full episode to see how today’s numbers could connect to tomorrow’s moves, from your wallet to Wall Street. 

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The views expressed here are those of Rick Wedell and RFG Advisory, LLC management. They do not necessarily represent those of RFG Advisory’s employees or clients. This commentary should not be regarded as a description of advisory services provided by RFG Advisory, or performance returns of any client. The views reflected in the commentary are subject to change at any time without notice. 

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