Obsidian Weekly Market Update

If you’ve been watching the news at all, you’ve certainly heard the big news surrounding the jobs report released late last week. We’ll talk about that this week and what it means for you. Then, have you ever considered doing a DNA test on your pet? We take a look at the benefits of knowing your pet’s genetics.

Job growth expanded much more than anyone anticipated, especially given the omicron surge. It’s good news that almost all of the jobs lost in COVID have been added back and that people are able to go back to work. This was a big surprise, as most economists thought the numbers would be weak. The biggest gains were in leisure and hospitality. Earnings and the labor force participation also rose.

Some on Wall Street worry about the report, though, as markets slumped in the wake of the jobs report. Some degree of wage inflation is good for low-wage workers and a strong labor market is good for the economy overall, and this is encouraging. Although some wage inflation seems positive, the Fed may take action to combat broader inflationary concerns. There are some analysts who feel this may put pressure on the equity markets. At Obsidian, our focus remains on making sure your portfolio is in alignment with your goals.

The question of whether humans should take DNA tests is always interesting–do you really want to know? What if you have a long-lost cousin or sibling? Learning a lot about your past can open a can of worms, but for pets, there’s much less of a downside. Here are some cool things you can learn from DNA testing your four-legged friend:

• You can learn your pet’s breed. Depending on who you ask, there are 200-300 dog breeds and about 70 breeds of domestic cats. If you rescued your pet, you might not have any idea what their breed is, but a DNA test might be able to shed some light on the situation.
• Just like humans, pets can carry genetic tendencies for certain diseases. Pet DNA tests screen for markers of certain diseases. This is useful for catching any problems early.
• Along these lines, so to speak, if you’re considering breeding your pet, you will want to know if they carry anything that you won’t want to pass to the next generation. Plus, knowing which recessive and dominant genes your pet carries for traits like coat texture and color can help avoid surprises in the litter.
• You can contribute to veterinary science, as your pet’s information is added to the genetic database. This information can help future advances in veterinary care.

That’s it for us this week! Have a happy Valentine’s Day if that’s your thing, and we’ll see you back here next week.

How We Help:

We recently met with a couple who had retirement concerns, so we decided to gather updated information about them, and updated the cash flow section of their Lifestyle Protection Plan. Together, we realized they were able to retire earlier than they thought! This insight gave them the confidence of knowing they have options and flexibility to make their retirement choices. Things change over time; so reaffirming goals and introducing new information into a plan may give you the leverage you need to make prudent decisions in your life. We love helping people go from anxiety and worry to flexibility and fulfillment when planning their immediate and long-term futures.

Advisory Services offered through Obsidian Personal Planning Solutions, LLC. Securities are offered through Triad Advisors, member ​FINRA/SIPC.​ Obsidian Personal Planning Solutions, LLC, and Obsidian Personal Planning Solutions, Inc, are not affiliated with Triad Advisors.