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Disclaimer: Advisory services are offered through Nama Private Wealth, a DBA of Forefront Advisor Network. Forefront Wealth Partners, LLC (“FWP”) is an investment adviser registered with the U.S. Securities and Exchange Commission. All views, expressions, and opinions included in this communication are subject to change. This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. 

Your Weekly Forecast Scorecard: The Producer Price Index (PPI), which measures wholesale inflation, offered a deceptive signal Tuesday by falling 0.1% in August; however, the more important "core" number rose 0.3%, showing underlying price pressures for businesses remain strong. Those costs appeared to pass through to households as the Consumer Price Index (CPI) confirmed retail inflation is heating up, rising 0.4% in August—double the pace of July's increase. Capping off the week, Friday's University of Michigan report showed the impact of these rising costs on the public mood, with consumer sentiment faltering from 58.2 to 55.4 as anxieties around job security and inflation took a heavy toll.

911,000 Jobs Vanish: On Tuesday, the Bureau of Labor Statistics (BLS) dropped a bombshell revision that effectively rewrites the economic narrative of the past year. In its preliminary annual benchmark, the agency revealed that its monthly surveys had overestimated job growth by a staggering 911,000 positions through March 2025. This isn't a minor tweak; it's a -0.6% downward adjustment, triple the historical average. The BLS gets its final, more accurate numbers from state unemployment insurance tax records—hard data that nearly every employer must file—meaning the US economy was running on far less steam than the headline numbers suggested.

Jobless Claims Hit a 4-Year High: Adding to the grim labor market picture, Thursday's weekly report on initial jobless claims—the number of people filing for unemployment benefits for the first time—spiked by 27,000 to reach 263,000. This is the highest level for new unemployment filings since October 2021. This report is the most up-to-date indicator of the job market's health, and such a sharp increase is a clear, real-time signal that layoffs are accelerating, painting a picture of a labor market that is not just historically weaker, but actively deteriorating now.

Crypto Corner: BlackRock, the world's largest asset manager, is reportedly exploring the tokenization of its highly successful funds. This process involves creating digital representations of real-world assets, such as shares in an Exchange-Traded Fund (ETF), on a blockchain, a technology that could fundamentally reshape how securities are traded and settled. However, despite the immense institutional momentum and the CEO's belief that all assets will eventually be tokenized, a crucial debate remains: experts question whether it offers enough tangible value to persuade the average consumer to switch from traditional investment products, suggesting its immediate impact may be more behind-the-scenes than a Main Street revolution.

The Big Picture: This week’s data rewrote the story of the U.S. labor market, revealing it was built on a much weaker foundation than believed while showing new cracks in real-time, all as rising inflation and falling consumer confidence create a perilous economic crosscurrent.

Retail Sales Report Tuesday: On Tuesday, the U.S. Census Bureau will release the Advance Monthly Sales for Retail and Food Services report for August. This is the official monthly report card on consumer spending, tracking how much Americans are spending at stores, restaurants, and online. It's the most direct measure we have of the financial health and confidence of the average consumer. Last month's report showed a slight cooling in spending, raising questions about whether consumer resilience is beginning to fade.

Why It Matters: Consumer spending is the engine of the U.S. economy, accounting for roughly 70% of all economic activity. Strong retail sales suggest a robust economy, which is good for corporate profits, stock prices, and job security. Conversely, a weak report signals that consumers are tightening their belts—an early warning sign of a potential economic slowdown.

U.S. Imports and Exports Tuesday: Also on Tuesday, we'll get the report on International Trade in Goods and Services. This data details the nation's trade balance—the difference between the value of goods and services the U.S. sells to the world (exports) and what it buys from other countries (imports). When imports are higher than exports, it results in a trade deficit. This report provides a snapshot of global economic demand and the strength of the U.S. dollar.

Why It Matters: The trade balance is a key component of Gross Domestic Product (GDP), the broadest measure of economic output. A widening trade deficit can act as a drag on economic growth. It directly influences shipping costs, input prices, and global competitiveness. Furthermore, significant shifts in trade can impact currency exchange rates, affecting international investments and the cost of goods.

FOMC Rate Decision Wednesday: The main event of the week lands on Wednesday afternoon when the Federal Open Market Committee (FOMC) announces its decision on interest rates. The FOMC is the policy-setting arm of the Federal Reserve, and its primary tool is the federal funds rate—the rate at which banks lend to each other. This decision is the single most influential lever the government has to manage inflation and employment. Markets will be listening intently not just for the rate decision itself, but for the tone of the subsequent press conference, which will offer clues about future policy.

Why It Matters: The FOMC's decision creates ripples that touch every corner of your financial life. When the Fed raises rates, it becomes more expensive for everyone to borrow money, impacting credit cards, auto loans, mortgages, and, crucially, business expansion loans. When it cuts rates, borrowing becomes cheaper, stimulating economic activity.

UBS has significantly raised its price target on Oracle to $360, maintaining a "Buy" rating. This bullish view is fueled by a massive newly-disclosed backlog that underpins an extremely strong long-term growth forecast for its cloud business.

1. Massive Cloud Backlog and Growth Forecast

The primary driver is Oracle's disclosure of a $317 billion incremental backlog, with large contributions believed to be from major AI companies. This backlog supports the company's ambitious forecast for its cloud infrastructure revenue to grow 14-fold over the next five years.

2. Upgraded Long-Term Revenue Estimates

Based on the enormous backlog, UBS has significantly raised its own financial projections for Oracle. The firm increased its fiscal year 2029 revenue estimate for the company from $134 billion to $163 billion.

3. Strong Operational Discipline

Beyond top-line growth, UBS is positive on Oracle's guidance for mid-teens operating income growth in fiscal year 2026. This signals tight control over expenses and headcount, supporting a strong outlook for profitability.

It's tempting to view Oscar-winner Riz Ahmed as a product of Hollywood, but his real success story is a masterclass in business strategy. Frustrated by the limited roles available, Ahmed didn't just work harder; he vertically integrated. He co-wrote and produced his own star vehicles, like Sound of Metal and Mogul Mowgli, and founded his own production company, Left Handed Films. This is a strategic shift from being an actor-for-hire (a service provider, paid a fee) to becoming a creator-owner (an asset holder, paid in equity). He stopped waiting for a seat at the table and began building his own, controlling the intellectual property and the narrative from inception to distribution. The insight is a powerful career pivot for any professional: Stop focusing solely on performing the service and start owning the system that provides it. Whether you're a consultant, a designer, or a corporate manager, the path to wealth and influence lies in moving from labor to ownership.

Read more about his story here

In today's tech and corporate world, equity is a huge part of your total compensation. The good news is that receiving Restricted Stock Units (RSUs) or Employee Stock Options (ESOs) is generally considered permissible. Think of them as a conditional part of your employment contract—a bonus for your hard work, not a financial instrument you're purchasing.

The critical factor, however, is the Shariah compliance of the underlying company stock. The permissibility of the equity compensation is tied directly to the permissibility of the business itself. Before your shares vest or you exercise your options, you need to do your due diligence. Run your company through a Shariah screening app (like Zoya or Musaffa) to check its business activities and financial ratios. If your company is compliant, you're in the clear. If it’s not, you’ll need to sell the shares as soon as they vest and consult a scholar on how to handle the proceeds.

You’ve just gotten off a flight, navigated the airport train, and finally reached the front of the rental car line. The agent slides a contract toward you and asks the dreaded question: "Would you like to add our Collision Damage Waiver?"

Times like these call for one of the most valuable and overlooked perks in their wallet: Primary Rental Car Insurance from your credit card. Many premium travel cards (like the Chase Sapphire series and others) offer this as a standard benefit.

The keyword is "primary." This means your credit card’s policy kicks in first, before your personal auto insurance. If there's an incident, you don’t have to file a claim with your own provider, you don’t have to pay your personal deductible, and you don’t risk your premiums going up.

Stop paying for overpriced, redundant insurance and start using the powerful benefits you already have.

In today’s world, who you know is becoming more important than what you know. Join the largest online community of Muslim professionals in North America at muslimprofessionals.us.

That's all for this week. Make it a great one.