{"id":62212,"date":"2025-08-02T10:59:37","date_gmt":"2025-08-02T10:59:37","guid":{"rendered":"https:\/\/thepatientinvestor.com\/?p=62212"},"modified":"2025-08-04T04:10:49","modified_gmt":"2025-08-04T04:10:49","slug":"weak-labor-report-hammers-stocks","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2025\/08\/02\/weak-labor-report-hammers-stocks\/","title":{"rendered":"Weak labor report hammers stocks"},"content":{"rendered":"<h4>Key Points<\/h4>\n<ul>\n<li>The S&amp;P 500 and Dow fell sharply on the poor July jobs report<\/li>\n<li>Financial markets warn of easy credit conditions, which could lead to markets mispricing risk<\/li>\n<li>Real GDP growth is misleading due to the buildup of inventories in Q1, ahead of tariffs, and their subsequent rundown in Q2<\/li>\n<li>Long-term Treasury yields fell, and the dollar weakened, anticipating lower interest rates<\/li>\n<li>The fall boosted demand for gold<\/li>\n<\/ul>\n<hr \/>\n<p>July payrolls increased by 73K, below the estimate of 104K, but big downward revisions to the previous two months spooked investors. A combined revision of -258K to May and June employment lowered job gains to 19K and 14K, respectively.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-08-04-jobs2.png?resize=525%2C372&#038;ssl=1\" alt=\"Employment Growth\" width=\"525\" height=\"372\" \/><\/p>\n<p>Stocks were hammered, with the S&amp;P 500 displaying a bearish engulfing on the weekly chart. Breach of support at 6200 would signal a correction to test 6000.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-08-01-spx.png?resize=525%2C404&#038;ssl=1\" alt=\"S&amp;P 500\" width=\"525\" height=\"404\" \/><\/p>\n<p>The Dow Jones Industrial Average failed to confirm the S&amp;P 500 bull market signal and has now broken support at 44K, warning of a correction to 42 K.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-08-01-dow.png?resize=525%2C404&#038;ssl=1\" alt=\"Dow Jones Industrial Average\" width=\"525\" height=\"404\" \/><\/p>\n<h2 id=\"continue-reading\">Financial Markets<\/h2>\n<p>The Chicago Fed National Financial Conditions Index warns of further easing with a fall to -0.57, signaling loose monetary conditions similar to 2021 during the COVID pandemic.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-08-01-nfci.png?resize=525%2C372&#038;ssl=1\" alt=\"Chicago Fed National Financial Conditions Index\" width=\"525\" height=\"372\" \/><\/p>\n<p>During the <a href=\"https:\/\/thepatientinvestor.com\/index.php\/2025\/07\/31\/fed-stands-firm-so-does-boj\/\">week<\/a>, we highlighted the risk of a credit bubble if super-easy financial conditions persist:<\/p>\n<blockquote><p>Looser monetary policy would accelerate credit growth (light blue) above the nominal GDP rate (dark blue), leading to malinvestment as in the credit bubble preceding the 2008 global financial crisis. Mispricing risk feeds instability, leading to an inevitable collapse when assets reprice.<\/p><\/blockquote>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-07-30-bankcredit-ngdp.png?resize=525%2C372&#038;ssl=1\" alt=\"Bank Credit &amp; Nominal GDP Growth\" width=\"525\" height=\"372\" \/><\/p>\n<p>Bond market guru <a href=\"https:\/\/www.grantspub.com\/almostDailyHTML.cfm?dcid=1761&amp;article=2\">Jim Grant<\/a> today confirmed the worrying speculative bonanza:<\/p>\n<blockquote><p>It\u2019s a speculative-credit bonanza. Freewheeling conditions in the primary market pushed leveraged loan activity to new heights in July, with domestic new issuance reaching $223.2 billion. That\u2019s the largest one-month total on record, comfortably topping the prior $206 billion peak established in January&#8230;.<\/p>\n<p>\u201cI haven\u2019t seen a market quite like this post the Great Financial Crisis,\u201d Jon Poglitsch, managing director at Sycamore Tree Capital Partners, marveled to Bloomberg Wednesday. There\u2019s a \u201cgrab for spread where anyone can find it,\u201d he noted.<\/p><\/blockquote>\n<p>Loose financial conditions will likely be exacerbated if the Fed caves to political pressure and cuts interest rates, risking a credit bubble.<\/p>\n<h2>Treasury Markets<\/h2>\n<p>The weak jobs report swept aside concerns over the uptick in June core PCE inflation to 2.8%.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-08-01-pce-core.png?resize=525%2C372&#038;ssl=1\" alt=\"PCE &amp; Core PCE\" width=\"525\" height=\"372\" \/><\/p>\n<p>10-year Treasury yields plunged, anticipating Fed rate cuts, testing long-term support at 4.2%.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-08-01-tnx.png?resize=525%2C404&#038;ssl=1\" alt=\"10-Year Treasury Yield\" width=\"525\" height=\"404\" \/><\/p>\n<h2>Economy<\/h2>\n<p>Real GDP growth recovered to an annualized rate of 2.9% in Q2, but the numbers are misleading. The biggest contributor was a sharp reduction in inventories after massive Q1 pre-orders, front-running the tariffs announced by President Trump in April. The contraction in Q2 aggregate hours worked reveals a far gloomier picture.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-08-01-realgdp-hours.png?resize=525%2C372&#038;ssl=1\" alt=\"Real GDP &amp; Total Hours Worked\" width=\"525\" height=\"372\" \/><\/p>\n<p>A 50K July decline in employment in cyclical sectors \u2014 manufacturing, construction, transportation, and warehousing \u2014 warns that the economy is slowing.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-08-01-cyclical-jobs.png?resize=525%2C372&#038;ssl=1\" alt=\"Cyclical Employment\" width=\"525\" height=\"372\" \/><\/p>\n<h2>Labor Market<\/h2>\n<p>Job openings and unemployment remain in balance, as highlighted by Chair Powell at this week&#8217;s FOMC announcement.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-08-01-jolts-u3.png?resize=525%2C372&#038;ssl=1\" alt=\"Job Openings\" width=\"525\" height=\"372\" \/><\/p>\n<p>Annual growth in average hourly earnings at 3.9% reflects reasonable labor demand.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-08-01-wages.png?resize=525%2C372&#038;ssl=1\" alt=\"Average Hourly Earnings\" width=\"525\" height=\"372\" \/><\/p>\n<h2>Dollar &amp; Gold<\/h2>\n<p>The US Dollar Index fell sharply on the July jobs report, anticipating lower interest rates ahead.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-08-01-dxy.png?resize=525%2C404&#038;ssl=1\" alt=\"Dollar Index\" width=\"525\" height=\"404\" \/><\/p>\n<p>The fall boosted demand for gold, which is testing resistance at $3,360 per ounce. Breakout would signal a test of $3,440.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-08-01-gold.png?resize=525%2C404&#038;ssl=1\" alt=\"Spot Gold\" width=\"525\" height=\"404\" \/><\/p>\n<h2>Conclusion<\/h2>\n<p>A weak jobs report, with falling employment in cyclical sectors, warns that the economy is slowing. Stocks are expected to undergo a correction, with the S&amp;P 500 testing support at 6000 and the Dow testing 42K.<\/p>\n<p>Interest rates are expected to fall, with the Fed cutting rates to create a soft landing. Lower interest rate expectations have also weakened the dollar and boosted demand for gold.<\/p>\n<p>Easy credit conditions increase the risk of a credit bubble, which could lead to investors mispricing risk.<\/p>\n<p>We are underweight stocks except for defensive sectors, and overweight cash, gold, and short-term financial assets.<\/p>\n<h4>Acknowledgments<\/h4>\n<ul>\n<li>Federal Reserve of St Louis: <a href=\" https:\/\/fred.stlouisfed.org\/\">FRED Data<\/a><\/li>\n<li>Peter Boockvar: <a href=\"https:\/\/peterboockvar.substack.com\/p\/jobs-rundown-and-lets-be-honest-here\">Jobs\u00a0<\/a>Rundown<\/li>\n<li>Grant&#8217;s Daily: <a href=\"https:\/\/www.grantspub.com\/almostDailyHTML.cfm?dcid=1761&amp;article=2\">Bold Rush<\/a><\/li>\n<li>Adam Taggart:\u00a0 <a href=\"https:\/\/adamtaggart.substack.com\/p\/strong-q2-gdp-growth-not-actually\">&#8220;Strong&#8221; Q2 GDP Growth Not As Robust As It Sounds?\u00a0<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Key Points The S&amp;P 500 and Dow fell sharply on the poor July jobs report Financial markets warn of easy credit conditions, which could lead to markets mispricing risk Real GDP growth is misleading due to the buildup of inventories in Q1, ahead of tariffs, and their subsequent rundown in Q2 Long-term Treasury yields fell, &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2025\/08\/02\/weak-labor-report-hammers-stocks\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Weak labor report hammers stocks&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[31,46,6,3761,9,34,35],"tags":[69,315,6622,5648,870,6184,1073,1113,6944,4874,5649,2870,3010,3204,3531],"class_list":["post-62212","post","type-post","status-publish","format-standard","hentry","category-the-fed-banks-interest-rates","category-deficit-spending-employment","category-fixed-income","category-gdp-and-activity","category-gold-precious-metals","category-us-canada-countries-regions","category-us-dollar-index","tag-10-year-treasury-yield","tag-average-hourly-earnings-growth","tag-chicago-fed-national-financial-conditions-index","tag-core-pce-inflation","tag-credit-bubble","tag-cyclical-employment","tag-dollar-index","tag-dow-jones-industrial-average","tag-inventory-rundown","tag-job-openings","tag-pce-inflation","tag-real-gdp","tag-sp-500","tag-spot-gold","tag-unemployment"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Weak labor report hammers stocks - the patient investor<\/title>\n<meta name=\"description\" content=\"%\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thepatientinvestor.com\/index.php\/2025\/08\/02\/weak-labor-report-hammers-stocks\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Weak labor report hammers stocks - the patient investor\" \/>\n<meta property=\"og:description\" content=\"%\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2025\/08\/02\/weak-labor-report-hammers-stocks\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:author\" content=\"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/\" \/>\n<meta property=\"article:published_time\" content=\"2025-08-02T10:59:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-08-04T04:10:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.incrediblecharts.com\/images\/2025\/2025-08-04-jobs2.png\" \/>\n<meta name=\"author\" content=\"Colin Twiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Colin Twiggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2025\\\/08\\\/02\\\/weak-labor-report-hammers-stocks\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2025\\\/08\\\/02\\\/weak-labor-report-hammers-stocks\\\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/person\\\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"Weak labor report hammers stocks\",\"datePublished\":\"2025-08-02T10:59:37+00:00\",\"dateModified\":\"2025-08-04T04:10:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2025\\\/08\\\/02\\\/weak-labor-report-hammers-stocks\\\/\"},\"wordCount\":667,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2025\\\/08\\\/02\\\/weak-labor-report-hammers-stocks\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2025\\\/2025-08-04-jobs2.png\",\"keywords\":[\"10-Year Treasury Yield\",\"Average Hourly Earnings Growth\",\"Chicago Fed National Financial Conditions Index\",\"Core PCE Inflation\",\"Credit Bubble\",\"Cyclical Employment\",\"Dollar Index\",\"Dow Jones Industrial Average\",\"Inventory Rundown\",\"Job Openings\",\"PCE Inflation\",\"Real GDP\",\"S&amp;P 500\",\"Spot Gold\",\"Unemployment\"],\"articleSection\":[\"Banks &amp; 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He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events. He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.","sameAs":["https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","https:\/\/www.instagram.com\/colin_thepatientinvestor","https:\/\/au.linkedin.com\/in\/colintwiggs"],"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-gbq","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":61449,"url":"https:\/\/thepatientinvestor.com\/index.php\/2025\/03\/29\/dow-bear-market-awaits-while-gold-soars-to-new-high\/","url_meta":{"origin":62212,"position":0},"title":"Dow bear market strengthens while gold soars to new high","author":"Colin Twiggs","date":"March 29, 2025","format":false,"excerpt":"Reversals on the Dow and S&P 500 strengthened our bear market signal, ending the bull market that started in January 2023. The Magnificent Seven mega-cap technology stocks all show losses for the first quarter, led by Tesla (TSLA), down 30%. The S&P 500 respected resistance at the former primary support\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Magnificent 7 Technology Stocks","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-03-28-mag7.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-03-28-mag7.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-03-28-mag7.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":62206,"url":"https:\/\/thepatientinvestor.com\/index.php\/2025\/07\/31\/fed-stands-firm-so-does-boj\/","url_meta":{"origin":62212,"position":1},"title":"Fed stands firm, so does BOJ","author":"Colin Twiggs","date":"July 31, 2025","format":false,"excerpt":"Key Points The Fed held the funds rate target steady at 4.25% to 4.50% The Bank of Japan followed up, holding its policy rate steady at 0.5% The S&P 500 and Dow Jones Industrial Average eased slightly The US Dollar Index jumped, weakening demand for gold Fed Chair Jerome Powell\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"S&P 500","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-07-30-spx.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-07-30-spx.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-07-30-spx.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":39256,"url":"https:\/\/thepatientinvestor.com\/index.php\/2022\/12\/03\/gold-rallies-but-needs-to-backfill\/","url_meta":{"origin":62212,"position":2},"title":"Gold rallies but needs to backfill","author":"Colin Twiggs","date":"December 3, 2022","format":false,"excerpt":"The Dollar weakened in recent weeks on expectation of slowing Fed rate hikes. 10-Year Treasury yields fell to 3.53%, well below the 3-Month at 4.33%, reflecting the bond market view that a deflationary contraction will force the Fed to cut rates -- despite assertions that they will hold rates high\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Dollar Index","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-12-02-dxy.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-12-02-dxy.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-12-02-dxy.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":59700,"url":"https:\/\/thepatientinvestor.com\/index.php\/2024\/12\/07\/easy-monetary-conditions-fail-to-lift-stocks\/","url_meta":{"origin":62212,"position":3},"title":"Easy monetary conditions fail to lift stocks","author":"Colin Twiggs","date":"December 7, 2024","format":false,"excerpt":"Stocks are advancing on a narrow front despite easy monetary conditions in financial markets. Treasury yields are falling, which should be bullish for precious metals. However, robust economic and labor market data will likely increase the Fed's reluctance to continue cutting rates. Stocks The S&P 500 edged higher, but the\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"S&P 500","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-12-06-spx.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-12-06-spx.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-12-06-spx.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":62335,"url":"https:\/\/thepatientinvestor.com\/index.php\/2025\/08\/30\/tariffs-overruled-as-gold-and-silver-soar\/","url_meta":{"origin":62212,"position":4},"title":"Tariff setback as gold and silver soar","author":"Colin Twiggs","date":"August 30, 2025","format":false,"excerpt":"Key Points The US Court of Appeals ruled that President Trump does not have the power to impose tariffs Trump says that he will appeal the decision to the Supreme Court Q2 GDP growth was revised up to 3.2%, but the economy is still slowing Core PCE inflation jumped to\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Dow Jones Industrial Average","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-08-29-dow.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-08-29-dow.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-08-29-dow.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":61477,"url":"https:\/\/thepatientinvestor.com\/index.php\/2025\/04\/04\/bear-market-bites\/","url_meta":{"origin":62212,"position":5},"title":"The bear market bites","author":"Colin Twiggs","date":"April 4, 2025","format":false,"excerpt":"Summary Stocks plunged in reaction to Donald Trump's new \"reciprocal\" tariffs. The S&P 500 and Dow Jones Industrial Average broke support levels, confirming the bear market. Declining 10-year Treasury yields warn of a recession. The ISM services PMI warns of slowing growth and rising unemployment. Stocks The Dow Jones Industrial\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Dow Jones Industrial Average","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-04-03-dow.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-04-03-dow.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-04-03-dow.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/62212","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=62212"}],"version-history":[{"count":11,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/62212\/revisions"}],"predecessor-version":[{"id":62228,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/62212\/revisions\/62228"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=62212"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=62212"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=62212"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}