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Listen to the latest episode of the Emerald Wit & Wisdom Podcast (06/12/24)

Good morning.

The S&P surged and crossed the 7,000 level for the first time in its history, but while Wall Street may be celebrating few on Main Street are blowing up any party balloons.

Consumer confidence is at its lowest level in 14 years and what is interesting here is that the University of Michigan shows the view claims discomfort with both current conditions and expectations for the year ahead. It seems a lot of people in the tech field have made good money recently, but mom and pop who run the local grocery store don’t seem to care at all.

Maybe the news has people feeling down as reports of riots and political back-and-forth public battling (“you’re a liar” … “no … you’re a liar”) is constantly being played out in the nation’s headlines.  Meanwhile, job layoffs are of concern … and Amazon just announced shuttering 16,000 positions.

The Fed makes its decision today … and it is expected there will be no change in rates (which will, of course, result in immediate anger from the White House) … but, who knows? There could be an unexpected surprise … for which markets would move sharply.  Then the press conference follows … and it should be a doozy (an economic term).

You might have noticed the sharp rise in gold … and especially silver … as the U.S. dollar has been falling quite rapidly.

A falling dollar is good for exports, but this silver lining definitely has a cloud … as the price of imported goods could jump … resulting in higher inflation … but, more importantly, capital flows coming into the U.S. could see a sharp drop. And the dollar being “the world’s reserve currency” might be in danger. Still, the President says he is not concerned at all … though you can be sure some other people are.

On a final note for today, Nike shared an interesting view which is passed along in the last column included below.

The self-serving claim is that shoes can activate the brain and improve concentration.  And, of course, if you buy their sneakers, you will find yourself “feeling more present and resilient.”

I happen to be a big believer in this, and it has changed my life … as I put myself out there as an expert on the feeling of inner peace associated with the purchase of shoes

I have a lot of experience

…  having done a lot of sole searching

Have a great day,

Joseph G. Witthohn, CFA

Have any questions? Please contact info@teamemerald.com

A Look At The News | January 28, 2026 As of 11:32 AM today … Most feel the Fed announcement, expected this afternoon, will probably call for rates to remain steady for now … even as the White House calls for a sharp cut (ABCNews) https://abcnews.go.com/Business/federal-reserve-expected-hold-interest-rates-steady-defying/story?id=129594261   … but are mortgage rates the key to why homebuyers are backing out of deals in record numbers? (CNBC) https://www.cnbc.com/2026/01/27/homebuyers-backing-out-of-deals.html   … or is it because people just don’t feel … well … confident enough to go through with their homebuying plans?  Regardless of market highs, people just feel miserable (CNN) https://www.cnn.com/2026/01/27/economy/us-consumer-confidence-january   Well … if you didn’t have enough incentive to lose weight, here is another reason. Taking up too much space in a tiny airline seat?  Be prepared to pay (People) https://people.com/what-to-know-about-southwest-s-new-customers-of-size-policy-starting-today-11893550   It is tough to sell the global warming argument with a long-lasting chill in the air … but here we are … as environmentalists say global warming should be considered global change (WHYY) https://whyy.org/articles/philadelphia-snow-climate-change/   Here is a play changing “thinking on your feet” to “thinking with your feet” as Nike tries to sell the view that your feet affect your brain (StudyFind) https://studyfinds.org/can-shoes-alter-brain/   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.