The BEA reported, consumer spending rose 0.2% in June. The Commerce Dept. stated, construction spending increased 0.1% and factory orders rose 1.8% in June. The BEA reported the trade deficit increased in Junee

1. Suite 3535, 30 East 7th Street, St. Paul, MN 55101 PHONE: (651) 829-3300 FAX: (651) 839-3301 WEB: highmarkwealth.com
Jobs
The Labor Department reported the U.S. job market added 288,000 jobs and the unemployment rate
dropped to 6.1% in June from 6.3% in May. Initial jobless claims dccreased by 11,000 to 304,000. The
Labor Department reported the four week sadkfasdfasdfasdfasdfasdfasdfasdfamoving average was
311,500.
Inflation
The Consumer Price Index increased 0.4% in May. The Producer Price Index had the largest increase
since January 2010, closing at 0.6% in April (+2.1% y/y). Import prices decreased at a faster rate
than expected, which could moderate inflation expectations goiasdfasdfasdfafdasdfasdfasdfng
forward.
Rates
The yield on the 10-year U.S. Treasury note dropped. The Federal Open Market Committee announced
bond purchases have dropped to $asdfasdf35 billion from $45 billion. Monthly mortgage-backed
securities purchases will drop to $15 billion from $20 billion. The European Central Bank voted to
keep the
Growth
The Commerce Department noted whaolesale trade increased 0.7% in May 2014. The Federal Reserve
posted consumer credit increased at an
annasdfasdfasdfasdfasdfasdfasdfasdfasdfasdfasdfasdfasdfasdfasdfual rate of 7.5% in May, impacted by
non-revolving credit.
Profits
The second quarter earnings seasaasdfasdfaasdfasdfasfon started with the S&P 500 operating earnings
on target to be $29.24, which embodies a 10.9a% year-over-year growth increase. According to S&P
Dow Jones Indices divided net increases for U.S. domestic common stock increased $12.6 billion in
second
The Labor Department reported initial jobless claims rose by 3,000 to 270,000 for the week
ending on August 1, 2015. The four-week moving average was 268,250. The unemployment
rate was unchanged at 5.3%. The July jobs report shows a labor market that continues to see,
in the words of the FOMC, “some further improvement,” with payrolls increasing by 215,000.
Wage gains remain mellow, increasing by only 0.1% m/m for nonsupervisory and production
workers.
Headline consumer prices increased 0.3% between May and June (0.0% y/y). Core CPI
inflation slightly increased to 1.8% y/y. The headline month-to-month rise was driven
higher by rising energy prices, as the gasoline price index rose 3.4% m/m. Ignoring
volatile energy and food prices, core prices increased 0.2%, largely due to increases in
medical care prices and owners’ equivalent rent – a sign of a stronger housing market.
The 10-year U.S. Treasury Note yield dropped -0.02% to 2.18% for the week ending August 7,
2015. In July, rates were left unchanged by the FOMC. The FOMC indicated in its policy
statement that before raising rates it only needs to see “some” improvement in the labor market.
References to the labor market were more positive throughout the policy statement, this
indicates that signs of wage growth and another sturdy employment report should be enough to
permit an increase in rates in September.
The BEA reported, consumer spending rose 0.2% in June. The Commerce Dept.
stated, construction spending increased 0.1% and factory orders rose 1.8% in June. The
BEA reported the trade deficit increased in June.
According to the S&P 500 Dow Jones Indices, as of July 31, 2015 252 out of 356 S&P
500 Index companies reporting 2Q earnings beat analysts’ estimates. The S&P 500
looks on track for earnings per share to drop 9.5% y/y in 2Q 2015.
Economic Snapshot
August 10, 2015
Jobs
Inflation
Rates
Growth
Profits

2. Suite 3535, 30 East 7th Street, St. Paul, MN 55101 PHONE: (651) 829-3300 FAX: (651) 839-3301 WEB: highmarkwealth.com
About HighMark Wealth Management
HighMark Wealth Management specializes in providing customized wealth management solutions for public and private
companies, high-net worth clients and their families. The firm bases its client relations on collaboration, the extensive experience of its
principals and creative thinking. Every member of the team at HighMark Wealth Management is an accomplished professional, able to
perform in a results-driven atmosphere and provide clients with consistent service of the highest quality. You can learn more about our
firm by visiting our website, reading our blog and by subscribing to our newsletter.
Please remember that past performance may not be indicative of future results.
Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment,
investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Highmark Wealth Management
LLC), or any non-investment related content, made reference to directly or indirectly in this newsletter will be profitable, equal any corresponding indicated
historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market
conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any
discussion or information contained in this newsletter serves as the receipt of, or as a substitute for, personalized investment advice from Highmark Wealth
Management LLC. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual
situation, he/she is encouraged to consult with the professional advisor of his/her choosing. Highmark Wealth Management LLC is neither a law firm nor
a certified public accounting firm and no portion of the newsletter content should be construed as legal or accounting advice. If you are a Highmark Wealth
Management LLC client, please remember to contact Highmark Wealth Management LLC, in writing, if there are any changes in your personal/financial
situation or investment objectives for the purpose of reviewing/evaluating/revising our previous recommendations and/or services. A copy of the Highmark
Wealth Management LLC’s current written disclosure statement discussing our advisory services and fees is available upon request.