Episode Details

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In this week's episode of Business by the Numbers, Hunt Demarest, CPA, dives into the recent market volatility triggered by a disappointing jobs report and poor earnings from major companies. He explains the role of the Federal Reserve and the implications of the SOM Rule on predicting recessions.

• Market Drop: The market took a significant hit due to a higher-than-expected unemployment rate of 4.3%, compared to the anticipated 4.1%.
• Earnings Reports: Major companies, including Amazon, Google, and Nvidia, reported poor earnings, contributing to the market decline.
• Federal Reserve Influence: The Fed's control over interest rates and money supply directly impacts inflation and market volatility.
• SOM Rule: The SOM Rule, with a perfect recession prediction record, indicates a likely recession if unemployment rates rise more than 0.5% above the previous year's average.
• https://finance.yahoo.com/news/stock-market-news-today-nasdaq-enters-correction-dow-falls-600-points-as-disappointing-jobs-report-shakes-investors-133048116.html
• https://www.bls.gov/charts/employment-situation/civilian-unemployment.htm
• https://www.marketwatch.com/livecoverage/jobs-report-for-july-employment-growth-seen-slowing-with-hurricane-providing-a-drag/card/the-sahm-rule-is-officially-triggered-tvQVLLwkOPdqTIA45gsP
• https://www.reuters.com/markets/us/drop-magnificent-seven-could-drag-down-us-stocks-top-fund-manager-says-2024-07-30/
• https://www.cnbc.com/quotes/.MAG7

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