Click here to have Wit & Wisdom sent directly to your inbox

Good morning:.

Investors are celebrating a shocking employment report this morning as the odds of a feared rate hike at the September Fed meeting dropped sharply after the number fell far below projections. Good (for now) if you own stocks … not good if you don’t and you have one of the jobs lost.

Not only was the number short of expectations (23,000 jobs lost vs. an anticipated gain of around 80,000) but the result of the previous two months (June and May) had downward revisions.

The result though, resulted in a bit of relief to those fearful of a near-term rate increase … causing next week’s inflation report to take on a greater degree of importance than anticipated just one day ago.

I found it quite interesting to see responses to the morning report.

One friend wrote me and said I should not be concerned as he stated that he feels I was confused and … let me re-read his text … “Economy is A+”

And while Bloomberg gave an ominous statement that “the labor market is weaker than previously thought,” a panelist on Fox News said, “this is great news” … and White House National Economic Council Director, Kevin Hassett, gave the opinion that it was actually a good report “if you throw out the World Cup and the government workers.”  Yep … and if you throw out the extra pounds I put on by eating ice cream every night my diet is working pretty well.

Meanwhile, I will share that I looked at the projections and made a “wager” on Kalshi that the number would be above 80,000 gained.  $10 lost. Ouch.  Lesson learned.

There is a Miami restaurant cited in the last story below that is doing something interesting.

Noting that it is illegal to have naked servers … and one attempt by a burger joint in 1976 was quickly shot down by obscenity laws … a steakhouse is trying to skirt the law (no pun intended) by serving to nude diners.

Of course, the warm weather in Miami allows for this … although I am sure the state will move to stop it.

If it was tried up in Maine I am sure it wouldn’t work

… for due to the freezing temperatures …

… I would expect the restaurant and its diners

… to be clothed for the winter.

Have a great day,

Joseph G. Witthohn, CFA

Have any questions? Please contact info@teamemerald.com

New and want to subscribe to Wit & Wisdom? Subscribe here   A Look At The News | August 7, 2026 As of 11:43 AM today … The view that the economy is doing just fine became a bit cloudier this morning as an expected announcement on job gains showed the opposite … and jobs were lost in July (ABCNews) https://abcnews.com/Business/jobs-report-expected-show-hiring-boost-july/story?id=135422024   … but the market is taking it all in stride … for if something happens that causes rates to actually drop … lower mortgages and lower home prices make ownership more affordable (CNBC) https://www.cnbc.com/2026/08/07/homes-are-selling-below-asking-in-38-of-the-50-biggest-us-cities.html   We see the price tag on college tuition and think only the wealthy can afford to attend … but that just means you haven’t investigated the “free-tuition” program some schools offer (Forbes) https://www.forbes.com/sites/michaeltnietzel/2026/08/07/boston-university-is-latest-to-join-the-free-tuition-arms-race/   There are things you cannot control that contribute to dementia (such as age and genetic makeup), but you can do things earlier in life to delay (or negate) the onset (ScienceAlert) https://www.sciencealert.com/avoiding-these-3-things-in-middle-age-linked-to-delayed-dementia   Were you ever drawn to someone … while at the same time you question if they are just plain nuts?  There are attributes that make people more likely to be instantly magnetic (Psychologies) https://www.psychologies.co.uk/why-some-people-seem-magnetic-and-instantly-trustworthy-even-when-they-might-be-a-psychopath/   A la mode (aka. “in the fashion”) is about to take on new meaning at a certain restaurant in Florida where diners are invited to leave their clothes at the door (MorningBrew) https://www.morningbrew.com/stories/florida-steakhouse-offering-nude-dining-experience The statements above are supplied for educational purposes only. The statements depict the viewpoints and opinion of the author and are not necessarily the views of Emerald Asset Management or its affiliates. The information described herein is taken from sources which are believed to be reliable, but the accuracy and completeness of such information is not guaranteed by us. Emerald Asset Management PA, LLC | 717-556-8900 | 3175 Oregon Pike, Leola, PA 17540 Want to change how you receive these emails? You can unsubscribe from this list. ———————————————————————————- The statements above are supplied for educational purposes only. The statements depict the viewpoints and opinion of the author and are not necessarily the views of Emerald Asset Management or its affiliates. The information described herein is taken from sources which are believed to be reliable, but the accuracy and completeness of such information is not guaranteed by us.