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Jobs

The Labor Department reported the U.S. job market added 288,000 jobs and the unemployment rate dropped to 6.1% in June from 6.3% in May. Initial jobless claims dccreased by 11,000 to 304,000. The Labor Department reported the four week sadkfasdfasdfasdfasdfasdfasdfasdfamoving average was 311,500.

Inflation

The Consumer Price Index increased 0.4% in May. The Producer Price Index had the largest increase since January 2010, closing at 0.6% in April (+2.1% y/y). Import prices decreased at a faster rate than expected, which could moderate inflation expectations goiasdfasdfasdfafdasdfasdfasdfng forward.

Rates

The yield on the 10-year U.S. Treasury note dropped. The Federal Open Market Committee announced bond purchases have dropped to $asdfasdf35 billion from $45 billion. Monthly mortgage-backed securities purchases will drop to $15 billion from $20 billion. The European Central Bank voted to keep the

Growth

The Commerce Department noted whaolesale trade increased 0.7% in May 2014. The Federal Reserve posted consumer credit increased at an annasdfasdfasdfasdfasdfasdfasdfasdfasdfasdfasdfasdfasdfasdfasdfual rate of 7.5% in May, impacted by non-revolving credit.

Profits

The second quarter earnings seasaasdfasdfaasdfasdfasfon started with the S&P 500 operating earnings on target to be $29.24, which embodies a 10.9a% year-over-year growth increase. According to S&P Dow Jones Indices divided net increases for U.S. domestic common stock increased $12.6 billion in second

Economic Snapshot March 2, 2015

Past performance does not guarantee future results. Diversification does not guarantee investment returns and does not eliminate the risk of loss. Opinions offered constitute our judgment and are subject to change without notice, as are statements of financial market trends, which are based on current market conditions. We believe the information provided here is reliable, but do not warrant its accuracy or completeness. This material is not intended as an offer or solicitation for the purchase or sale of any financial instrument. The views and strategies described may not be suitable for all investors. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, accounting, legal or tax advice. The views expressed are those of HighMark Wealth Management. They are subject to change at any time. These views do not necessarily reflect the opinions of any other firm. HighMark Wealth Management, LLC, is a member of FINRA/SIPC. HighMark Wealth Management is the marketing name for the asset management businesses of HighMark Wealth Management. Those businesses include, but are not limited to, HighMark Wealth Management © HighMark Wealth Management July 2014

The Labor department reported initial jobless claims increased by 31,000 to 113,000 in the week

ending Feb. 21, 2015. The four-week moving average was 294,500. The January employment

report stated nonfarm payrolls rose by 257,000 and the U.S. unemployment rate increased to 5.7%

on higher participation in the labor force, staying below the 50-year average of 6.1%.

Core CPI was flat from Dec. at 1.6% year-over-year. Consumer inflation dropped to -0.2% year-over-

year in December as measured by headline CPI. With a 10.3% decline in monthly energy prices,

final demand producer inflation dropped (-0.1% year-over-year) in January. Import prices dropped

2.5% month-over-month driven by descending energy prices and a stronger dollar, further

depicting deflationary pressures.

The 10-year U.S. Treasury Note yield decreased .13% to 2.00% for the week ending 2/27/2015. In

Janet Yellen’s semi-annual testimony to Congress she reaffirmed the labor market’s strength and

maintained that rate increases will be data dependent. She also provided more color around

inflation expectations that suggest the Fed remains on track to begin policy normalization in the

middle of 2015.

The National Association of Realtors posted existing home sales dropped 4.9% in January. The Commerce

Department reported new home sales dropped 0.2% and durable goods orders increased 2.8% in January

from December. The second estimate of 4Q real GDP put growth at 2.2% q/q saar, under the first estimate

of 2.6%. A drop in government spending and increasing trade deficit lowered 4Q GDP growth from 5.0% in

3Q 2014. The US had the strongest rise in personal consumption since 1Q 2006 with a rise of 4.2%, reflecting

an increase in spending on nondurable goods and services.

.6%.

According to the S&P Dow Jones Indices, as of Feb. 19, 2015, of the 439 S&P 500 Index

companies reporting 4Q earnings, 304- beat analysts’ estimates. The S&P 500 operating earnings

are estimated to be $26.67 for 4Q, representing a -5.6% year-over-year growth. Lower earnings

were primarily due to low oil prices, pension write-offs and a strong dollar.

Jobs

Inflation

Rates

Growth

Profits

Suite 3535, 30 East 7th

Street, St. Paul, MN 55101 PHONE: (651) 829-3300 FAX: (651) 839-3301 WEB: highmarkwealth.com

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perform in a results-driven atmosphere and provide clients with consistent service of the highest quality. You can learn more about our

firm by visiting our , reading our website and by subscribing to our blog . newsletter Past performance does not guarantee future results. Diversification does not guarantee investment returns and does not eliminate the risk of loss. Opinions offered constitute our judgment and are subject to change without notice, as are statements of financial market trends, which are based on current market conditions. We believe the information provided here is reliable, but do not warrant its accuracy or completeness. This material is not intended as an offer or solicitation for the purchase or sale of any financial instrument. The views and strategies described may not be suitable for all investors. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, accounting, legal or tax advice. © HighMark Wealth Management March 2015