Markets with Megan: A Quick Financial Markets Update

Hosted by Megan Horneman

Business Investing

Website RSS feed

Episodes

342

Latest episode

Aug 2026

Language

EN-US

About the show

Empower yourself with knowledge, one fact at a time. Markets with Megan is a bite-sized financial markets podcast hosted by Megan Horneman, the CIO of Verdence Capital Advisors. Megan provides experienced analysis and in-depth insights that go beyond the daily headlines to unravel the economy's intricacies and indicators.

Listen to episodes

60 recent

August 19, 2026Episode 1614 min

Why Are We Watching the Fed | S3 E161 | 08-19-26

The Federal Reserve released the minutes from its July meeting, and Megan breaks down what they actually reveal about the committee's thinking heading into September. The minutes show risks to employment and growth skewed to the downside, while inflation risk is still seen as tilted to the upside, even with a general upbeat tone on the economy overall. A few committee members already favored raising rates rather than waiting, a reminder of what happened in 2022 when the Fed had to move aggressively to catch up on inflation. Megan also covers why markets are rallying today, and it has less to do with the Fed and more to do with a Treasury announcement on long-term bond buybacks. In this episode, Megan covers: - What the Fed's July meeting minutes reveal about inflation and growth risk - Why underlying inflation is still elevated even after stripping out tariff and energy effects - The case for the Fed trimming its meeting schedule from eight to six per year - Why some committee members wanted to raise rates sooner rather than later - What's actually driving today's rally in stocks and bonds - Why September remains a possible date for the Fed's next move If you're trying to make sense of what the Fed is really signaling before their next meeting, this one's for you. Give it a watch and subscribe so you don't miss next week's breakdown. For a history of all Markets with Megan episodes, visit: https://marketswithmegan.fm #FederalReserve #FedMinutes #Inflation #InterestRates #FOMC #StockMarket #BondMarket #EconomicData #MarketsWithMegan #FedSeptember https://youtu.be/tDBek0aW3zo Disclaimer: material was prepared by Verdence Capital Advisors, LLC (“VCA”). VCA believes the information and data in this document were obtained from sources considered reliable and correct and cannot guarantee either their accuracy or completeness. VCA has not independently verified third-party sourced information and data. Any projections, outlooks or assumptions should not be construed to be indicative of the actual events which will occur. These projections, market outlooks or estimates are subject to change without notice. This material is being provided for informational purposes only and is not intended to provide, and should not be relied upon for, investment, accounting, legal, or tax advice. Past performance is not a guarantee 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 or anynon-investment related content, made reference to directly or indirectly in these materials will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. You should not assume that any discussion or information contained in this report serves as the receipt of, or as a substitute for, personalized investment advice from VCA. Due to various factors, including changing market conditions and/or applicable laws, the c...

August 14, 2026Episode 1604 min

Retail Sales Miss, Confidence Drops Too | S3 E160 | 08-14-26

Today's data on the consumer wasn't good. July retail sales fell 0.3%, missing expectations for a 0.2% gain, following a decline the month before. Megan Horneman breaks down what's behind the pullback and why the control group number, which feeds directly into GDP, matters even more than the headline. In this episode: - Why July retail sales fell 0.3% instead of rising as expected - What the control group reading tells us about GDP - Why restaurant spending rose 0.5% even as other categories pulled back - Consumer confidence's first drop in three months - Why one-year inflation expectations rising to 4.3% matters to the Fed - What upcoming labor market and PCE data could mean for a September rate decision Give it a watch, and subscribe for the weekly breakdown. For a history of all Markets with Megan episodes, visit: https://marketswithmegan.fm #RetailSales #ConsumerConfidence #Inflation #FederalReserve #InterestRates #MarketsWithMegan #EconomicData #Fed2026 #ConsumerSpending #RateDecision https://youtu.be/P3zMj-JpZ8s Disclaimer: material was prepared by Verdence Capital Advisors, LLC (“VCA”). VCA believes the information and data in this document were obtained from sources considered reliable and correct and cannot guarantee either their accuracy or completeness. VCA has not independently verified third-party sourced information and data. Any projections, outlooks or assumptions should not be construed to be indicative of the actual events which will occur. These projections, market outlooks or estimates are subject to change without notice. This material is being provided for informational purposes only and is not intended to provide, and should not be relied upon for, investment, accounting, legal, or tax advice. Past performance is not a guarantee 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 or anynon-investment related content, made reference to directly or indirectly in these materials will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. You should not assume that any discussion or information contained in this report serves as the receipt of, or as a substitute for, personalized investment advice from VCA. Due to various factors, including changing market conditions and/or applicable laws, the c...

August 12, 2026Episode 1593 min

Markets Rally on CPI, Megan Isn't Sold | S3 E159 | 08-12-26

July's Consumer Price Index is in, and markets are cheering. Headline CPI rose 0.1% for the month and 3.5% year-over-year, while core CPI came in at 0.2% monthly and 2.5% annually. Both numbers landed right where economists expected, and both ticked slightly lower than June. But as Megan explains, "as expected" isn't the same as "good news." In this episode, Megan covers: - Why July's in-line CPI report still isn't something to fully celebrate - How service sector inflation reversed course and ticked back up to 0.2% - Which categories, like airline fares and apparel, are still pushing prices higher - Why core CPI has now stayed above the Fed's target for 63 straight months - What sticky inflation could mean for the Fed's September and December decisions - Why tomorrow's PPI report and the upcoming PCE reading matter for the bigger picture If you're trying to make sense of what today's inflation numbers really mean for your money, this one's worth five minutes. Subscribe so you don't miss next week's breakdown. For a history of all Markets with Megan episodes, visit: https://marketswithmegan.FM #CPI #Inflation #FederalReserve #InterestRates #ConsumerPriceIndex #MarketsWithMegan #Economy #FedRateDecision #InflationData #StockMarket https://youtu.be/7U4fEg5Jx7s Disclaimer: material was prepared by Verdence Capital Advisors, LLC (“VCA”). VCA believes the information and data in this document were obtained from sources considered reliable and correct and cannot guarantee either their accuracy or completeness. VCA has not independently verified third-party sourced information and data. Any projections, outlooks or assumptions should not be construed to be indicative of the actual events which will occur. These projections, market outlooks or estimates are subject to change without notice. This material is being provided for informational purposes only and is not intended to provide, and should not be relied upon for, investment, accounting, legal, or tax advice. Past performance is not a guarantee 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 or anynon-investment related content, made reference to directly or indirectly in these materials will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. You should not assume that any discussion or information contained in this report serves as the receipt of, or as a substitute for, personalized investment advice from VCA. Due to various factors, including changing market conditions and/or applicable laws, the c...

August 11, 2026Episode 1582 min

Does Small Business Data Hint at a Fed Shift? | S3 E158 | 08-11-26

The July NFIB Small Business Optimism Index just came in better than expected and it's now at its highest level since August 2025. Understand why this report matters, especially since small businesses make up nearly half of the private sector labor force. Underneath the headline number, the details tell an interesting story. Job openings, hiring plans, and capital expenditure intentions all jumped, painting a different picture than what showed up in last week's jobs report. With the CPI report landing tomorrow, this data could shape how markets read the Fed's next move. In this episode: - Why the NFIB Index just hit its highest reading since August 2025 - What rising job openings and hiring plans could signal for the labor market - How capital expenditure plans, partly tied to AI spending, jumped to a multi-year high - Why small business hiring sentiment looks so different from last week's jobs report - What tomorrow's CPI report could mean for the Fed's next decision If you're trying to make sense of where the labor market and the Fed go from here, this one's worth five minutes of your time. Subscribe so you don't miss next week's breakdown. For a history of all Markets with Megan episodes, visit: https://marketswithmegan.FM #NFIB #SmallBusinessOptimism #CPIReport #FederalReserve #EconomicData #JobsReport #Inflation #StockMarket #Investing #MarketsWithMegan https://youtu.be/dkU3yp7zLog Disclaimer: material was prepared by Verdence Capital Advisors, LLC (“VCA”). VCA believes the information and data in this document were obtained from sources considered reliable and correct and cannot guarantee either their accuracy or completeness. VCA has not independently verified third-party sourced information and data. Any projections, outlooks or assumptions should not be construed to be indicative of the actual events which will occur. These projections, market outlooks or estimates are subject to change without notice. This material is being provided for informational purposes only and is not intended to provide, and should not be relied upon for, investment, accounting, legal, or tax advice. Past performance is not a guarantee 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 or anynon-investment related content, made reference to directly or indirectly in these materials will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. You should not assume that any discussion or information contained in this report serves as the receipt of, or as a substitute for, personalized investment advice from VCA. Due to various factors, including changing market conditions and/or applicable laws, the c...

August 7, 2026Episode 1574 min

Wages Grow 3.2%. But Is That Enough? | S3 E157 | 08-07-26

The July jobs report landed with a surprise this morning, and it wasn't the good kind. Economists expected the U.S. economy to add 80,000 jobs. Instead, it lost 23,000, and the prior two months were revised lower. Megan breaks down what happened underneath that headline number and what it means for the Fed's next move. Here's the part that confuses a lot of people: the unemployment rate actually fell to 4.1%, its lowest level in about a year, even as jobs disappeared. That's not necessarily good news. Megan explains why a shrinking labor force, not new hiring, is driving that number, and why real wages have now been negative for five straight months even as consumers keep spending. In this episode, Megan covers: Why the economy lost 23,000 jobs when 80,000 were expected How the unemployment rate fell to 4.1% even as jobs declined Why the labor force participation rate dropped to its lowest level since 1976 Where jobs are still growing, including construction and manufacturing tied to the AI buildout Why real wages have been negative for five consecutive months What this report means for the Fed heading into its September decision If you're trying to make sense of a jobs report that seems to contradict itself, you're not alone. Give this one a watch, and subscribe if you want these numbers explained in plain English every week. For a history of all Markets with Megan episodes, visit: https://marketswithmegan.FM #JobsReport #LaborMarket #Unemployment #FederalReserve #WageGrowth #EconomicData #MarketsWithMegan #Investing #FedRateDecision #JulyJobsReport https://youtu.be/gLeAS1-ZJrQ Disclaimer: material was prepared by Verdence Capital Advisors, LLC (“VCA”). VCA believes the information and data in this document were obtained from sources considered reliable and correct and cannot guarantee either their accuracy or completeness. VCA has not independently verified third-party sourced information and data. Any projections, outlooks or assumptions should not be construed to be indicative of the actual events which will occur. These projections, market outlooks or estimates are subject to change without notice. This material is being provided for informational purposes only and is not intended to provide, and should not be relied upon for, investment, accounting, legal, or tax advice. Past performance is not a guarantee 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 or anynon-investment related content, made reference to directly or indirectly in these materials will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. You should not assume that any discussion or information contained in this report serves as the receipt of, or as a substitute for, personalized investment advice from VCA. Due to various factors, including changing market conditions and/or applicable laws, the c...

August 5, 2026Episode 1563 min

Supply Chains Behave While Prices Misbehave | S3 E156 | 08-05-26

The July ISM Services report is in, and it's giving the Fed a mixed signal ahead of its September rate decision. Megan Horneman breaks down why the headline number came in slightly below expectations, what eased supply chain pressures actually tell us, and why the prices paid component just jumped back above 70 for the fourth time in five months. At the same time, the employment component fell back into contraction territory, something it's now done in 12 of the past 18 months. That combination of rising prices and a softening labor market is exactly the kind of tension the Fed has to weigh next month, and with the big jobs report landing Friday, this week's data matters more than usual. In this episode, Megan covers: 📊 Why the ISM Services Index dipped slightly below expectations in July 🔗 How easing supply chain and delivery pressures affected the headline number 💲 Why the prices paid component jumped back above 70, a level hit in four of the last five months 👷 Why the employment component fell back into contraction, its 12th sub-50 reading in 18 months 🤖 How AI adoption and lower-cost hiring locations are showing up in the data instead of new payrolls 📈 Why 17 industries reported higher prices in July, with none reporting declines If you're trying to make sense of what the Fed will be watching before September, this one's worth five minutes. Hit subscribe so you don't miss Friday's jobs report breakdown. For a history of all Markets with Megan episodes, visit: https://marketswithmegan.FM #ISMServices #FederalReserve #Inflation #LaborMarket #JobsReport #InterestRates #EconomicData #MarketsWithMegan #FedRateCut #Investing https://youtu.be/ktMYwZDUxOc Disclaimer: material was prepared by Verdence Capital Advisors, LLC (“VCA”). VCA believes the information and data in this document were obtained from sources considered reliable and correct and cannot guarantee either their accuracy or completeness. VCA has not independently verified third-party sourced information and data. Any projections, outlooks or assumptions should not be construed to be indicative of the actual events which will occur. These projections, market outlooks or estimates are subject to change without notice. This material is being provided for informational purposes only and is not intended to provide, and should not be relied upon for, investment, accounting, legal, or tax advice. Past performance is not a guarantee 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 or anynon-investment related content, made reference to directly or indirectly in these materials will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. You should not assume that any discussion or information contained in this report serves as the receipt of, or as a substitute for, personalized investment advice from VCA. Due to various factors, including changing market conditions and/or applicable laws, the c...

July 17, 2026Episode 1554 min

The 9.2% Number Hiding Inside Retail Sales | S3 E155 | 07-17-26

June retail sales came in close to expectations, with headline growth slowing to 0.2% as gasoline station sales pulled the number down. But strip out food, energy and building materials, and the control group grew 0.5% on the month and is running at a 9.2% annualized pace over the past three months. Megan breaks down what that split actually tells us about the consumer. In this episode, Megan covers: 📊 Why headline retail sales growth slowed to 0.2% in June ⛽ How falling gasoline station sales weighed on the overall number 💪 The control group's 0.5% monthly gain and 9.2% annualized pace 🚗 Strength in motor vehicle and electronics sales, and the inflation caveat that comes with it 😊 Consumer sentiment jumping to its highest reading since February, before the Iran war 💻 Why markets are more focused on AI related weakness in tech and semiconductors right now If you are watching your portfolio and wondering what these numbers mean for your money, this one is worth five minutes of your time. For a history of all Markets with Megan episodes, visit: https://marketswithmegan.FM #RetailSales #ConsumerSentiment #MarketsWithMegan #ConsumerConfidence #EconomicData #InflationWatch #StockMarket #Earnings #WallStreet #FederalReserve https://youtu.be/uxvULTkblN8 Disclaimer: material was prepared by Verdence Capital Advisors, LLC (“VCA”). VCA believes the information and data in this document were obtained from sources considered reliable and correct and cannot guarantee either their accuracy or completeness. VCA has not independently verified third-party sourced information and data. Any projections, outlooks or assumptions should not be construed to be indicative of the actual events which will occur. These projections, market outlooks or estimates are subject to change without notice. This material is being provided for informational purposes only and is not intended to provide, and should not be relied upon for, investment, accounting, legal, or tax advice. Past performance is not a guarantee 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 or anynon-investment related content, made reference to directly or indirectly in these materials will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. You should not assume that any discussion or information contained in this report serves as the receipt of, or as a substitute for, personalized investment advice from VCA. Due to various factors, including changing market conditions and/or applicable laws, the c...

July 15, 2026Episode 1543 min

Biggest PPI Drop Since 2023 | S3 E154 | 07-15-26

The Producer Price Index for June came in much better than expected, with the headline number falling 0.3% instead of holding flat, the biggest monthly decline since October 2023. So what drove the drop? How does it compare to yesterday's CPI report? Why does the softer core reading still leave the Fed with a decision to make? This matters right now because the Fed is weighing whether to hold steady or move again in September, and this report cuts both ways. Energy prices did a lot of the work on the headline number, while core inflation is still stuck above 5% year over year, and rising tension in the Middle East could put oil prices right back in play. In this episode, Megan covers: 📉 Why producer prices fell 0.3% in June, the biggest monthly decline since October 2023 ⛽ How a 6.4% drop in energy prices pulled the headline number down 📊 Why core PPI, stripping out food, energy, and trade, rose just 0.1% against a 0.3% expectation ✈️ What's behind the pullback in portfolio management fees and airline fares 📌 Why core inflation is stuck at 5.1% year over year and what that signals to the Fed 🎯 Why there's still a better than 50% chance of a September rate hike If you're trying to make sense of what these reports mean for the Fed's next move, this one's worth five minutes of your time. For a history of all Markets with Megan episodes, visit: https://marketswithmegan.FM #PPI #ProducerPriceIndex #Inflation #FedRateHike #InterestRates #Economy #StockMarket #EconomicData #InflationReport #FederalReserve https://youtu.be/u-zY2aLIGi4 Disclaimer: material was prepared by Verdence Capital Advisors, LLC (“VCA”). VCA believes the information and data in this document were obtained from sources considered reliable and correct and cannot guarantee either their accuracy or completeness. VCA has not independently verified third-party sourced information and data. Any projections, outlooks or assumptions should not be construed to be indicative of the actual events which will occur. These projections, market outlooks or estimates are subject to change without notice. This material is being provided for informational purposes only and is not intended to provide, and should not be relied upon for, investment, accounting, legal, or tax advice. Past performance is not a guarantee 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 or anynon-investment related content, made reference to directly or indirectly in these materials will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. You should not assume that any discussion or information contained in this report serves as the receipt of, or as a substitute for, personalized investment advice from VCA. Due to various factors, including changing market conditions and/or applicable laws, the c...

July 14, 2026Episode 1534 min

CPI Surprise: Inflation Drops 0.4% | S3 E153 | 07-14-26

This week's June CPI report brought a surprise most analysts did not expect. Headline inflation fell 0.4% on a month over month basis, driven almost entirely by a sharp drop in energy and commodity prices. On a year over year basis, headline inflation is still running at 3.5%, but that's down meaningfully from 4.2% a year ago. The timing matters. The Fed's new chairman is testifying before Congress this week, and his prepared remarks stayed hawkish on inflation even as this report showed real progress. Megan breaks down why cooler energy prices, calmer core inflation, and a still cautious Fed leave August rate hike expectations off the table for now, and why tensions in the Middle East could bring volatility back to inflation data in the months ahead. Megan covers: 📉 Why June's 0.4% CPI decline caught most analysts off guard 📊 How core inflation cooled to 2.6% year over year, down from 2.9% 🛢️ What falling energy services costs and easing core services really signal 🏛️ Why the new Fed chair's hawkish testimony didn't budge despite the good news 📅 Why an August rate hike now looks off the table ⚠️ How tensions around the Strait of Hormuz could still stir inflation volatility If you're trying to make sense of what today's inflation data means for your money, tune in for the full breakdown and subscribe for tomorrow's update on the producer price index. For a history of all Markets with Megan episodes, visit: https://marketswithmegan.FM #CPIReport #Inflation #FederalReserve #InterestRates #CoreInflation #StockMarket #EconomicData #MarketsWithMegan #FedTestimony #OilPrices https://youtu.be/whHRp2cnMuk Disclaimer: material was prepared by Verdence Capital Advisors, LLC (“VCA”). VCA believes the information and data in this document were obtained from sources considered reliable and correct and cannot guarantee either their accuracy or completeness. VCA has not independently verified third-party sourced information and data. Any projections, outlooks or assumptions should not be construed to be indicative of the actual events which will occur. These projections, market outlooks or estimates are subject to change without notice. This material is being provided for informational purposes only and is not intended to provide, and should not be relied upon for, investment, accounting, legal, or tax advice. Past performance is not a guarantee 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 or anynon-investment related content, made reference to directly or indirectly in these materials will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. You should not assume that any discussion or information contained in this report serves as the receipt of, or as a substitute for, personalized investment advice from VCA. Due to various factors, including changing market conditions and/or applicable laws, the c...

June 22, 2026Episode 1523 min

5 Questions Driving Markets This Summer | S3 E152 | 06-22-26

With markets hitting record highs and a tentative U.S.-Iran ceasefire in place, investors are sitting with a lot of open questions heading into the second half of 2026. In this episode, Megan Horneman works through the five questions she's hearing most from investors right now, from energy prices to Fed policy to what Q2 earnings season might reveal. - What the U.S.-Iran interim ceasefire means for investors, and three key details still unresolved - Why gas prices haven't kept pace with the 30% drop in crude oil, and when that relief may arrive - Why Verdence expects the Fed to raise interest rates in the second half of 2026, starting at 25 basis points - Whether stocks are actually overvalued at record highs, and why current earnings expectations may be too optimistic - What investors should watch in Q2 earnings season, specifically whether AI spending is generating measurable revenue - Why Verdence remains in a buy-on-weakness posture while staying patient on new positions this summer If you're watching your portfolio closely and trying to make sense of a complicated market, this episode gives you a clear-eyed mid-year read. Subscribe so you never miss a weekly update from Megan. For a history of all Markets with Megan episodes, visit: https://marketswithmegan.FM #MarketsWithMegan #FedRateHike #IranCeasefire #OilPrices #StockMarket2026 #EarningsSeason #AIStocks #InvestingAdvice #MidYearOutlook #marketupdate https://youtu.be/sXonCJlm59w Disclaimer: material was prepared by Verdence Capital Advisors, LLC (“VCA”). VCA believes the information and data in this document were obtained from sources considered reliable and correct and cannot guarantee either their accuracy or completeness. VCA has not independently verified third-party sourced information and data. Any projections, outlooks or assumptions should not be construed to be indicative of the actual events which will occur. These projections, market outlooks or estimates are subject to change without notice. This material is being provided for informational purposes only and is not intended to provide, and should not be relied upon for, investment, accounting, legal, or tax advice. Past performance is not a guarantee 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 or anynon-investment related content, made reference to directly or indirectly in these materials will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. You should not assume that any discussion or information contained in this report serves as the receipt of, or as a substitute for, personalized investment advice from VCA. Due to various factors, including changing market conditions and/or applicable laws, the c...