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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: This week's data painted a picture of an economy pulling in opposite directions. Tuesday's Retail Sales report showed the American consumer remains remarkably resilient, with spending rising a strong 0.6% in August, signaling robust domestic demand. That same day, however, the U.S. trade report revealed the international trade deficit grew to $117 billion. The week's main event came Wednesday when the Federal Open Market Committee (FOMC)—the Fed's rate-setting body—cut its benchmark interest rate by a quarter-point to a 4% to 4.25% range, an explicit acknowledgment that despite the strong consumer, "downside risks to employment have risen" and the broader economy is weakening.

The $100,000 H-1B Shockwave: President Trump signed a surprise executive order Friday evening that imposes a staggering $100,000 fee on companies filing for new H-1B visas, the lifeblood of skilled foreign talent for Silicon Valley and much of corporate America. The order triggered immediate chaos, with tech giants like Microsoft and Google blasting out urgent warnings for employees abroad to return to the U.S. within hours and immigration lawyers working through the weekend to decipher the rules. The administration argues the fee is necessary to stop companies from using the program to replace Americans with "lower-paid, lower-skilled labor."

A TikTok Truce with China: In a significant de-escalation of tensions, President Trump announced Thursday that he and Chinese President Xi Jinping had made progress on a deal for the popular short-video app TikTok, which faces a Congressionally mandated shutdown if its U.S. assets aren't sold by its Chinese parent company, ByteDance. Following their first phone call in three months, Trump told reporters that Xi had "approved the TikTok deal," though Beijing's official statement was more measured. The two leaders also plan to meet face-to-face in South Korea in six weeks, signaling a potential thaw in relations after a punishing tit-for-tat tariff war earlier in the year.

Crypto Corner: Marking a pivotal moment in the convergence of internet culture and high finance, Dogecoin (DOGE), a cryptocurrency that began as a meme, has achieved a new tier of legitimacy with the launch of the first-ever spot Exchange-Traded Fund (ETF) tracking its price. The new fund, trading under the ticker DOJE, provides a regulated and accessible bridge for mainstream investors to gain exposure to the memecoin through traditional brokerage accounts without directly holding the asset.

The Big Picture: This week revealed an economy of contradictions, where a resilient consumer is propping up activity even as the Federal Reserve cuts rates to fend off a slowdown, all while the administration's chaotic policy swings create profound uncertainty for corporate America's talent and supply chain strategies.

Housing Market Check-In (Wednesday & Thursday): This week offers a comprehensive look at the health of the U.S. housing market. On Wednesday, we get the New Residential Sales report, which tracks the sale of newly constructed homes. Then on Thursday, the National Association of Realtors releases its Existing-Home Sales data, covering transactions of previously owned properties, which make up the vast majority of the market. Together, these reports provide a critical view of housing demand, affordability, and inventory levels.

Why It Matters: The housing market is a powerful driver of the U.S. economy. Strong home sales spur activity in construction, furniture, and home improvement sectors, creating jobs and boosting GDP. Conversely, falling sales can be an early indicator of economic trouble, signaling that high interest rates and prices are beginning to sideline buyers.

Advance Economic Indicators (Thursday): Thursday delivers a trio of "advance" reports that give an early, partial look at last month's economic activity. This includes the Advance Report on International Trade in Goods, which provides a preliminary look at the nation's trade balance before services are factored in. We also get Advance Retail Inventories and Advance Wholesale Inventories, showing how much unsold product is sitting on shelves and in warehouses.

Why It Matters: Think of these as the opening scenes of next month's economic story. The trade data gives an early clue about how global demand is shaping up and its potential impact on GDP. The inventory numbers are a direct measure of business confidence. When businesses allow inventories to build, it suggests they are optimistic about future sales. When they start to cut back, it's a sign they are bracing for a slowdown, which often leads to reduced orders and production down the line.

Consumer Snapshot (Friday): The most important report of the week arrives Friday morning with the Personal Income and Outlays release. This single report contains three critical data points: Personal Income (how much money Americans are earning), Personal Spending (how much they're spending), and the Personal Consumption Expenditures (PCE) Price Index. The PCE index is the Federal Reserve's preferred measure of inflation, as it captures a broader range of goods and services than the more commonly cited CPI.

Why It Matters: This report is the definitive monthly scorecard on the financial health of the American consumer and the state of inflation. The income and spending figures tell us if consumers have the firepower to continue driving the economy. But all eyes will be on the PCE data. This report will heavily influence market sentiment and Fed policy for the month ahead.

Needham has maintained its "Buy" rating and $121 price target on Boston Scientific ahead of its upcoming investor day. The firm views the company as a premier, high-quality name within the large-cap medical technology sector.

1. Positive Expectations for Investor Day

A key catalyst is the company's biennial investor day on September 30, 2025. Needham expects Boston Scientific to issue strong long-term financial targets for 2026-2028, potentially including higher organic revenue growth guidance than in previous years.

2. Strategic Acquisitions and Pipeline Growth

The company is actively enhancing its growth profile through strategic M&A, including the recent acquisitions of Bolt Medical and Elutia Inc.'s product lines. These deals, combined with a strong new product pipeline, are expected to drive future performance.

3. High-Quality Financial Profile

Boston Scientific's strong financial health and market position support the positive outlook. The company is widely regarded as a top-tier operator, a view reinforced by its "GREAT financial health score" and a strong buy-side consensus among analysts.

*This is not a recommendation to buy/sell any asset. Halal status is as determined by AAOIFI standards and is subject to change after the time of writing this publication

Every founder obsesses over their product, but YouTube co-founder Jawed Karim and his team built a global behemoth by obsessing over something far more powerful: distribution. In the early 2000s, other video platforms existed, but YouTube conquered the world by focusing on a single, unglamorous feature: the embeddable player. They made it ridiculously simple for anyone to take a YouTube video and seamlessly plug it into their MySpace page, personal blog, or forum signature. While their competitors kept visitors locked on their own sites, YouTube sent its product out into the wild, where it became a fundamental building block of the internet itself. The actionable insight is a crucial lesson in growth: The best product doesn't always win; the best-distributed product does. Stop asking how to make your product better and start asking how you can make it easier for others to share.

Read more about him here

This is an advanced question, and it shows you're paying attention. Welcome to the concept of "purification." Modern Shariah screening standards recognize that it's nearly impossible for a large corporation to have 100% pure revenue. They all have cash in a bank account earning some minimal interest. For this reason, scholars set a tolerance level, typically allowing a company to remain "compliant" if its impermissible revenue is less than 5% of its total income.

If your holding is still compliant, you don't have to sell. However, you have an ethical obligation to cleanse your own earnings from that tainted portion. This process is called purification. You calculate the impermissible income per share and donate that amount to charity.

The formula is simple: (Impermissible Revenue ÷ Total Revenue) x Your Total Dividend = Amount to Purify. Many halal investment platforms can even calculate this for you. Think of it as a financial spring cleaning for your portfolio.

Every investor has them: the duds. The stocks you bought with high hopes that are now sitting in your portfolio stubbornly in the red. Your instinct might be to hold on, praying they’ll rebound.

But what if the smartest move was to sell them before the year is over?

This isn’t about admitting defeat. It's a strategic tax-minimization play called Tax-Loss Harvesting, and it’s how investors turn their portfolio's losers into a tangible financial win.

In a taxable brokerage account, you only pay capital gains tax when you sell an investment for a profit. By that same logic, you can strategically sell a losing investment to "realize" or lock in that loss. This loss then becomes a valuable tool.

The critical rule: You must avoid the "Wash Sale Rule." You cannot sell a security for a loss and buy it (or a nearly identical one) back within 30 days before or after the sale. A common strategy is to sell a losing ETF and immediately buy a different ETF that tracks a similar, but not identical, index.

With the end of the year approaching, now is the perfect time to review your portfolio for these opportunities. Investing isn't just about picking winners; it's about intelligently managing your entire portfolio—including the losers.

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.