In this week's Zhang Financial Market Outlook, Rob shares the latest from around the economy as the US Federal Government shutdown has officially ended. Q3 GDP forecasts remain strong at +4.0%, but the odds of another rate cut by the Federal Reserve in December continue to fall. All eyes will be on the first data release since the shutdown was lifted, with September non-farm payrolls to be announced this Thursday, 11/20.

Disclosures:
These materials have been designed for general informational and educational purposes only and do not constitute an offer to sell or a solicitation of an offer to buy any security. Such offers can only be made where lawful under applicable law. These materials have been prepared and derived on the basis of publicly available information, internally developed data and other third party sources believed to be reliable. Zhang Financial LLC has not sought to independently verify information obtained from public and third party sources. No representation, warranty or undertaking, stated or implied, is given as to the accuracy or completeness of the information contained herein. Zhang Financial LLC expressly disclaims any liability for the accuracy and completeness of this information. All opinions and views constitute judgments as of the date of writing without regard to the date on which the reader may receive or access the information, and are subject to change at any time without notice and with no obligation to update. To the extent that these materials contain statements about the future, such statements are forward looking and subject to a number of risks and uncertainties. This information is intended solely for the information of those to whom it is distributed by Zhang Financial LLC. No part of these materials may be reproduced or retransmitted in any manner without the prior written permission of Zhang Financial LLC. Zhang Financial LLC does not intend to provide investment advice through these materials and does not represent that any market position, economic forecast, securities or services are suitable for any investor. Investors are advised not to rely on these materials in the process of making a fully informed investment decision and they do not render business, tax or legal advice. Each client or prospective client should consult his/her own attorney, business advisor and tax advisor as to legal, business, tax and related matters concerning the information contained herein. The information, opinions and views contained herein have not been tailored to the investment objectives of any one individual, are current only as of the date noted and may be subject to change at any time without prior notice. Past performance does not guarantee future results. All investing involves risk of loss including the possible loss of principal.

In this week's Zhang Financial Market Outlook, Rob outlines last week's economic figures still being reported, despite the ongoing US Government shutdown. Employment change data courtesy of ADP came in below expectations but was still positive, and the Atlanta Federal Reserve now projects Q3 2025 GDP to be +4.0%. Despite this forecast and ongoing reporting beats by S&P 500 companies, markets were negative last week.

Disclosures:
These materials have been designed for general informational and educational purposes only and do not constitute an offer to sell or a solicitation of an offer to buy any security. Such offers can only be made where lawful under applicable law. These materials have been prepared and derived on the basis of publicly available information, internally developed data and other third party sources believed to be reliable. Zhang Financial LLC has not sought to independently verify information obtained from public and third party sources. No representation, warranty or undertaking, stated or implied, is given as to the accuracy or completeness of the information contained herein. Zhang Financial LLC expressly disclaims any liability for the accuracy and completeness of this information. All opinions and views constitute judgments as of the date of writing without regard to the date on which the reader may receive or access the information, and are subject to change at any time without notice and with no obligation to update. To the extent that these materials contain statements about the future, such statements are forward looking and subject to a number of risks and uncertainties. This information is intended solely for the information of those to whom it is distributed by Zhang Financial LLC. No part of these materials may be reproduced or retransmitted in any manner without the prior written permission of Zhang Financial LLC. Zhang Financial LLC does not intend to provide investment advice through these materials and does not represent that any market position, economic forecast, securities or services are suitable for any investor. Investors are advised not to rely on these materials in the process of making a fully informed investment decision and they do not render business, tax or legal advice. Each client or prospective client should consult his/her own attorney, business advisor and tax advisor as to legal, business, tax and related matters concerning the information contained herein. The information, opinions and views contained herein have not been tailored to the investment objectives of any one individual, are current only as of the date noted and may be subject to change at any time without prior notice. Past performance does not guarantee future results. All investing involves risk of loss including the possible loss of principal.

In this week's Zhang Financial Market Outlook, Rob covers a mixed week of market returns, with the Federal Reserve cutting interest rates by 25 basis points, and the US Federal Government remaining shutdown. One more rate cut by the Fed in 2025 has become uncertain, but additional cuts in 2026 remain likely. The S&P and Dow Jones Indexes gained 0.72% and 0.75%, respectively over the course of last week.

Disclosures:
These materials have been designed for general informational and educational purposes only and do not constitute an offer to sell or a solicitation of an offer to buy any security. Such offers can only be made where lawful under applicable law. These materials have been prepared and derived on the basis of publicly available information, internally developed data and other third party sources believed to be reliable. Zhang Financial LLC has not sought to independently verify information obtained from public and third party sources. No representation, warranty or undertaking, stated or implied, is given as to the accuracy or completeness of the information contained herein. Zhang Financial LLC expressly disclaims any liability for the accuracy and completeness of this information. All opinions and views constitute judgments as of the date of writing without regard to the date on which the reader may receive or access the information, and are subject to change at any time without notice and with no obligation to update. To the extent that these materials contain statements about the future, such statements are forward looking and subject to a number of risks and uncertainties. This information is intended solely for the information of those to whom it is distributed by Zhang Financial LLC. No part of these materials may be reproduced or retransmitted in any manner without the prior written permission of Zhang Financial LLC. Zhang Financial LLC does not intend to provide investment advice through these materials and does not represent that any market position, economic forecast, securities or services are suitable for any investor. Investors are advised not to rely on these materials in the process of making a fully informed investment decision and they do not render business, tax or legal advice. Each client or prospective client should consult his/her own attorney, business advisor and tax advisor as to legal, business, tax and related matters concerning the information contained herein. The information, opinions and views contained herein have not been tailored to the investment objectives of any one individual, are current only as of the date noted and may be subject to change at any time without prior notice. Past performance does not guarantee future results. All investing involves risk of loss including the possible loss of principal.