Charts & Chat - September 8, 2025

Eric Boyce • September 9, 2025

This week, CEO Eric Boyce, CFA discusses:

1. labor market is losing some steam, especially in tariff-impacted sectors; job growth falling short of breakeven

2. downside risk to payroll growth, unemployment next few months

3. housing market remains challenged due to affordability; prospective buyer traffic/builder confidence weak

4. rise in prime and subprime auto loans as a proxy for credit conditions

5. valuations higher based on price/sales, price/book and price/earnings

6. deceleration of growth in Mag 7 stocks; however, concentration of Mag 7, media and telecom create strong influence over the S&P 500




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