Brad here. I don’t normally write too much about stock market inside baseball, but something is about to happen that will undoubtedly get a lot of press—and raise a lot of questions. Specifically, the companies that operate the S&P 500 are changing how they classify companies within the index. While these changes won’t actually alter anything about the index as a whole, or the companies within it, they could affect your investments. Because of that, I asked Brian McCormick from our Investment Research department to take a deep dive on what these changes are and what they might mean to you. Take it away, Brian!

Last week’s data started with prices and whether inflation was picking up. This week’s economic data is all about housing.

You know the old saying: hindsight is 20/20. Apparently, foresight is as well because I have recently seen several prominent economists and investors calling for a recession in 2020. Repent, the end is near—but not all that near.

There has been much discussion recently about how the great financial crisis kicked off 10 years ago this week. We have retrospective interviews with participants, updates on how people fared during and after the crisis, and all of the typical media storytelling. It’s good stuff, and valuable for bringing a sense of perspective to the present moment. But it’s not all that useful in outlining what we should really be thinking of today in light of that history.

I was out with a friend the other night, and we got on the topic of what I do. He asked me a simple question: “why do I need a financial advisor?” He really did not get why anyone would want—let alone need—someone to help manage their financial lives.

Market risks come in three flavors: recession risk, economic shock risk, and risks within the market itself. So, what do these risks look like for September? Let’s take a closer look at the numbers.

Last week was a short but very busy period for economic news, with looks at business sentiment, the trade balance, and, most important, the job market. This week’s data will start with prices and concerns over inflation.

Last month, I reported that business confidence had pulled back in July and that job growth had weakened. But the data bounced back in the most recent report, for August, suggesting that July was an outlier and the positive trends remain in place. While the question of whether the tariffs are finally starting to have an effect remains open, the current data indicates that, if so, the effect is minor.

As we head into September, it’s a good time to take a look back at the markets in August, plus what we might expect in the month ahead.

Last week was all about the consumer—what they are earning, what they are spending, and how confident they are. The week ahead is short but busy, with looks at business sentiment, the trade balance, and, most important, the job market.