Monday Morning Meeting Notes (01/22/2024)

General Info:

• Fun Fact: Do you know why the unit of measure for gemstones is “carats”? Carat comes from the Greek keration, or “carob bean,” which was used as a standard for weighing small quantities. It’s equivalent to 200 milligrams, or about 0.007 ounces

Monday 01/22:

• U.S. Conference Board leading index
• China loan prime rates
• Taiwan unemployment rate and export orders for December

Tuesday 01/23:

• Netflix, Johnson & Johnson, Canadian National Railway, Procter & Gamble, 3M, Lockheed Martin, D.R. Horton, and Texas Instruments report earnings
• New Hampshire holds the first U.S. presidential election primary
• Bank of Japan (BOJ) monetary policy meeting
• Eurozone consumer confidence for January
• Taiwan industrial production for December

Wednesday 01/24:

• Tesla, ServiceNow, AT&T, IBM, CSX, TE Connectivity, General Dynamics, and Las Vegas Sands report earnings
• S&P Global Services PMI data for the U.S., Eurozone, U.K., Japan, Germany, and France
• S&P Global Manufacturing PMI data for the U.S., Eurozone, U.K., Japan, Germany, and France
• Bank of Canada monetary policy meeting

Thursday 01/25:

• Visa, LVMH, Northrop Grumman, Blackstone, NextEra Energy, Comcast, Intel, Capital One, Fair Isaac Corp, SK Hynix, Southwest Airlines, American Airlines, Marsh & McLennan, and CNX Resources report earnings
• U.S. reports Q4 2023 GDP data, which is expected to have shown 2.0% annualized growth
• U.S. new home sales for December
• U.S. durable goods orders for December
• U.S. initial jobless claims and continuing claims data
• European Central Bank (ECB) monetary policy meeting, which will be followed by ECB President Christine Lagarde’s news conference

Friday 01/26:

• American Express, Norfolk Southern, and Volvo report earnings
• U.S. personal income and spending for December, which includes personal consumption expenditures (PCE)
• PCE is expected to have grown 0.2% month-over-month and 2.6% year-over-year
• Core PCE, which excludes volatile food and energy costs and is the Federal Reserve’s preferred inflation gauge, is expected to have grown 0.2% month-over-month and 3.0% year-over-year
• Bank of Japan (BOJ) releases the minutes from its previous monetary policy meeting
• Japan consumer price index (CPI) for January