This pick list highlights constituents of the Morningstar US Mid Cap Index that we believe offer investors the best risk-adjusted return prospects. The market capitalization range for U.S. mid-caps typically falls between $1 billion and $8 billion and represents 20% of the total capitalization of the U.S. equity market.

This pick list highlights constituents of the Morningstar US Mid Cap Index that we believe offer investors the best risk-adjusted return prospects. The market capitalization range for U.S. mid-caps typically falls between $1 billion and $8 billion and represents 20% of the total capitalization of the U.S. equity market.

Rockwell Automation was founded in 1903 and is based in Milwaukee, Wisconsin. The company is a global leader in industrial automation and digital transformation. Rockwell's products include sensors, control systems, and industrial control panels. The company has 29,000 employees. ROK shares are a component of the S&P 500.

Weekly Tee Up: Will Jobs Surprise Again? Will the jobs report this week surprise once again? Wall Street, economists, and the Federal Reserve were all caught off guard by last month's report. Last week, the Dow Jones Industrial Average was up 0.9%, the S&P 500 gained 0.2%, and the Nasdaq lost 0.9%. Year to date, the DJIA is higher by 10%, and the S&P and the Nasdaq are both up by 18%. On the economic calendar, the August jobs report, due on Friday, is the highlight of the week, especially after the surprise last month. In July, Nonfarm Payrolls dropped to 114,000 and the Unemployment Rate unexpectedly jumped to 4.3%. We forecast 130,000 new jobs for August and expect the Unemployment Rate to hold steady. On a related note, the government has restated months of jobs data, so there may be an impact from that action. In other economic news, Tuesday brings updates on Construction Spending and ISM Manufacturing. On Wednesday, the U.S. Trade Deficit and the JOLTS report come out. And on Thursday, ADP's private payrolls data will be released. As well, several Fed officials speak throughout the week. The earnings calendar is winding down, but some late reports trickle in this week. On Wednesday, we hear from Ciena, Dick's Sporting Goods, Dollar Tree, and Hormel Foods, and on Thursday, Broadcom. With 99% of S&P 500 companies having reported, earnings have come in 13% higher this quarter than a year ago. Expectations were for earnings growth between 8%-12%. Information Technology edged out Financial and Healthcare as the leading sector, but all three were up more than 20% for the quarter compared to the same quarter last year. Materials brought up the rear at down 6%. Last week's inflation data supported the Fed's rate-cut plan. The Personal Consumption Expenditures (PCE) Index came in at 2.5% for July, while Core PCE printed at 2.6%, both matching the rates from the month before. That was good news. Mortgage rates fell 11 basis points (bps) to 6.35% for the average 30-year fixed-rate mortgage. Gas prices fell seven cents to $3.31 per gallon for the average price of regular gas. That is the fourth decline in a row, with prices falling 5% for the month. The Atlanta Fed GDPNow indicator is forecasting for 3Q and calls for expansion of 2.5%. The Cleveland Fed CPINow indicator forecasts 2.6% for August CPI. Looking ahead, the next Fed rate decision is on September 18 and odds are at 100% for a rate cut. Of that, 70% expect a 25-bps cut and 30% a 50-bps cut. There are two more Fed rate meetings this year, on November 7 and December 18. At Argus, we are now forecasting three rate cuts this year, for a total of 75 bps. We expect two rate cuts in 2025, for a total of 50 bps.