Your Money

Sometimes it feels like the economy and markets are on different tracks. Although leading economic indicators have been flashing recessionary signals, the S&P 500® index has plowed higher. Manufacturing activity is weak, while services are resilient. The Federal Reserve declined to raise short-term rates at its June meeting for the first time in more than a year—but made it clear the door is still open to future rate hikes. Meanwhile, Europe is in a recession and a bull market at the same time.

As we enter the second half of the year, clarity remains elusive. We see positive signs ahead but also potential risks. We handle uncertainty with diversification. At PWM, our stock portfolios are globally diversified, focusing heavily on quality businesses demonstrating positive cash flow, reasonable valuations, and earnings growth.

Sometimes it feels like the economy and markets are on different tracks.
by Liz Ann Sonders, Kathy Jones, Jeffrey Kleintop

Your Life

Summertime means road trips to vacation destinations. While you're on the road to your final destination, you may need to stay over somewhere. You could pick a hotel, an inn, or a motel. What's the difference? Nowadays, motels are making quite a bit of a comeback. Motels, also called motor inns, are overnight accommodations where you can drive up to your room instead of entering a building and accessing your room inside a larger building. First developed in the 1920s, motels were established along highways and byways to give motorists an affordable, convenient place to stay. They are meant for shorter stays since they have fewer amenities and services for guests. At its peak in the mid-1960s, some 61,000 motels were operating across the US.

Over time, motels became known as seedy, desperate purposes reinforced by movies such as Psycho. Thanks to hit shows like Schitt's Creek, motels are gaining popularity again.

Hotel vs. Motel vs. Inn: What's the Difference?
by Kyle Kroeger

Complexity Simplified

Trivia