Latest news with #GDSWealthManagement
Wall Street Journal
2 days ago
- Business
- Wall Street Journal
Reassuring Jobs Report Brings Relief to Investors
A better-than-expected jobs report juiced optimism on Wall Street. 'It is extremely encouraging to see a six-figure print during a time of significant uncertainty driven by tariffs and economic fears,' said Glen Smith, chief investment officer at Texas-based GDS Wealth Management. Despite some signs of weaknesses in this morning's data, the report staved off fears of an imminent and severe job-market slowdown.
CNN
2 days ago
- Business
- CNN
Dow jumps 550 points as Wall Street tries to cope with trade war, Trump-Musk spat
Stocks rose on Friday after a slightly better-than-expected jobs report soothed nerves about how the US economy has been holding up during the early stages of President Donald Trump's tariff regime. The Dow was up by 570 points, or 1.35%. The broader S&P 500 rose 1.24% and the tech-heavy Nasdaq Composite gained 1.4%. The S&P 500 climbed above 6,000 points, which is a level it had not touched since February. The benchmark index was set to end the week in the green. Stock futures jumped higher Friday morning after data from the Labor Department showed the economy added 139,000 jobs last month, which was a slowdown from the month prior but better than anticipated. Wall Street has been looking for any sign of relief that the economy might be muddling through the uncertainty stoked by Trump's tariffs. Data from ADP on Wednesday showed an unexpected drop-off in private-sector hiring, though Friday's Labor Department data helped assuage concerns about the economy. 'While job growth decelerated in May, the payroll data came in above expectations and it is extremely encouraging to see a six-figure print during a time of significant uncertainty driven by tariffs and economic fears,' said Glen Smith, CIO at GDS Wealth Management. Yet uncertainty lingers about how Trump's tariff policy might impact economic growth and business activity in the coming months. It will likely be a few months before the full impact of tariffs on business decisions, hiring and inflation show up in the economic data. 'The deleterious impacts of uncertain tariff policies have yet to be fully reflected in the jobs data,' said Steve Wyett, chief investment strategist at BOK Financial. Stocks leading the rebound included Tesla (TSLA), which rose 5% after an enormous drop the day prior. Tesla on Thursday plummeted 14% after President Donald Trump and CEO Elon Musk, who recently stepped aside from his role leading the Department of Government Efficiency, traded barbs on social media. The slide wiped roughly $152 million off of Tesla's market value, which was the biggest single-day drop in value in the company's history. Trump on Friday told CNN's Dana Bash that he's 'not even thinking about Elon' and won't speak to him 'for a while.' 'He's got a problem,' the president said. 'The poor guy's got a problem.' Investors sold government bonds and yields rose as traders dialed back their expectations for rate cuts from the Federal Reserve this year. A resilient labor market gives the Fed more time to hold rates steady. The yield on the 10-year US Treasury rose to 4.47% and the yield on the 30-year US treasury rose to almost 4.94%. 'The Fed should be reluctant to cut rates because the full effects of tariffs haven't impacted inflation numbers yet and the job market isn't deteriorating enough to force their hand,' said Chris Zaccarelli, chief investment officer at Northlight Asset Management. Investors in recent weeks have increasingly embraced the 'TACO' trade, betting that 'Trump always chickens out' on his most aggressive tariff threats. Trump and Chinese President Xi Jinping spoke by phone on Thursday. The long-awaited call comes after weeks of simmering tensions between Washington and Beijing. 'While there is still uncertainty over tariffs, the stock market is forward looking and has been pricing in an eventual thawing of trade fears,' Smith said. 'It's becoming clear that the rhetoric on tariffs is much tougher than the action.' Trump separately hiked tariffs on steel and aluminum imports to 50% from 25%, which went into effect on Wednesday. Wall Street had largely expected the tariffs, and rallied despite their implementation. 'There are no signs of a summer break from tariff drama,' analysts at JPMorgan Chase said in a Tuesday note. US stocks are coming off their best monthly gain since November 2023 as Wall Street has steadily climbed out of the hole caused by Trump's tariff uncertainty. The S&P 500 is up about 1.75% so far this month. This is a developing story and will be updated.
New York Post
2 days ago
- Business
- New York Post
US adds 139K jobs in May as hiring remains steady despite tariff uncertainty
Hiring remained steady in May and the unemployment rate was unchanged in a crucial economic report as some worried that heightened uncertainty amid President Trump's tariffs would start to hit jobs. US employers added 139,000 jobs last month, slightly above expectations of 125,000, the Labor Department said Friday. The unemployment rate held steady at 4.2%. Christopher Sadowski Advertisement The unemployment rate held steady at 4.2%, even as some economists had cautioned that uncertainty could start to flame this figure. 'While it's encouraging to see that the economy still added a healthy clip of jobs during the month of May, the next few jobs reports will be particularly important since a continued deceleration could push the Federal Reserve to cut interest rates sooner than later,' Glen Smith, chief investment officer at GDS Wealth Management, said in a note. 'Friday's jobs report shows slowing but still solid growth, which may warrant a rate cut at some point towards the end of the year, at the Fed's November or December meetings.' Advertisement Futures tied to the Dow Jones, S&P 500 and Nasdaq ticked up after the report's release. Friday's job report is expected to extend the Federal Reserve's wait-and-see approach to cutting interest rates. Some aspects of the data did signal struggles, however, as the labor force shrank by 625,000 and the participation rate, which measures the share of adults working or looking for work, dropped by two-tenths of a point. This is a developing story. Please check back for updates.
Yahoo
14-03-2025
- Business
- Yahoo
GDS Wealth Management Announces Three-Part Webinar Series for Navigating Your Corporate Financial & Retirement Benefits Plan
DALLAS, March 14, 2025 /PRNewswire/ -- GDS Wealth Management, a Flower Mound based wealth management firm, is thrilled to announce a three-part webinar series designed to help attendees make the most of their financial benefits and retirement plans. This event is perfect for current and former Lockheed Martin employees* and those working at organizations with comparable offerings. The webinar series will occur on three consecutive Wednesdays in March and April 2025, with all sessions held from 6:00 to 6:45 p.m. The first session, on March 19, will delve into various important facets of available pension plans, including monthly payout options, lump sum calculations, and key considerations such as health conditions and timing to help attendees make the best decisions for their retirement. Participants will discover how to maximize their savings, explore the mega backdoor Roth strategy, and understand distribution methods for retirement and in-service withdrawals. The second session, on March 26, will teach attendees about the Employee Stock Option Plan (ESOP). Attendees will learn how to make the most of their stock options, understand the benefits they offer, and discover the best strategies for exercising and managing them. The GDS team will also explore the flexibility and investment opportunities available through a Self-Directed Brokerage Account (SDBA), helping participants take full advantage of their investment choices. Finally, on April 2, GDS will provide insights into benefits and strategies for managing deferred compensation, helping attendees understand how to optimize their earnings for the future. Attendees will learn about healthcare in retirement, including coverage options, costs, and planning strategies. Whether you are just starting your career, planning for retirement, or already retired, these sessions will equip you with some of the tools and information you need to make confident financial decisions. How to Register Registration for this exclusive webinar series is now open. Secure your spot today by visiting or calling (469) 212-8072. *GDS Wealth Management is not affiliated with and does not endorse the opinions, products, or services of Lockheed Martin Corporation. To view a full list of disclosures and material risks, please visit Contact: gds@ View original content to download multimedia: SOURCE GDS Wealth Management Sign in to access your portfolio
Yahoo
18-02-2025
- Business
- Yahoo
GDS Wealth Management Hosts Exclusive 2025 Client Appreciation Event at Globe Life Field
DALLAS, Feb. 18, 2025 /PRNewswire/ -- GDS Wealth Management welcomed clients for an unforgettable evening of appreciation, entertainment, and connection at Globe Life Field, home of the 2023 World Series Champion Texas Rangers. The event, designed to celebrate and thank clients for their trust and partnership, featured delicious barbecue, fun ballpark activities, and live music performances. As guests arrived, they were warmly greeted by the GDS team before being ushered into the stadium. Upon arrival, they enjoyed family-style classic barbecue in the ballpark. Attendees participated in engaging activities, including yard games and an exclusive opportunity to play wiffle ball inside the stadium. A highlight for sports fans was the rare chance to test their pitching skills in the official Rangers bullpen, providing a true MLB experience. The night's entertainment featured an all-star lineup of singer-songwriters who have made a significant impact on the music industry. Matt and Josh Jenkins captivated the crowd with their heartfelt storytelling and chart-topping country hits, bringing a mix of country, rock, and pop influences to the stage. Shy Carter delivered an electrifying performance, blending country, R&B, and pop in a set filled with fan-favorite songs. Lee Thomas Miller, a celebrated country songwriter, performed classics and offered an intimate look into the real world of country music. The four performers shared some of the stories behind their biggest hits, giving the audience a rare glimpse into the songwriting process. Clients sang along, enjoying the night's unforgettable blend of talent and heartfelt performances in a once-in-a-lifetime venue. The event was more than a celebration—it was a testament to GDS Wealth Management's dedication to fostering meaningful relationships with clients. From fun ballpark activities to world-class entertainment, the evening highlighted the firm's commitment to going beyond financial services to create a strong, connected community. "We are incredibly grateful for our valued clients and their trust in us," said CEO Glen Smith. "This annual event is our way of showing our appreciation for our clients and celebrating the relationships that make our work so rewarding." For more information about GDS Wealth Management, please visit or call (469) 212-8072. GDS offers complimentary consultations, and they would love to speak with you about your financial needs. To read a full list of the firm's disclosures, please visit Contact: gds@ View original content to download multimedia: SOURCE GDS Wealth Management
