Monday Morning Meeting Notes (09/11/2023)

General Info:

• Fun Fact: September 9^th is the most common birthday in the U.S., and 9 of the top 10 most common birthdays are in September
• The tradition of birthday candles is said to have begun in Ancient Greece, when people brought cakes adorned with lit candles to the temple of Artemis, goddess of the hunt. The candles were lit to make them glow like the moon, a popular symbol associated with Artemis

Monday 09/11:

• Patriot Day in the U.S.
• U.S. House of Representatives returns from its summer recess
• The House is tasked with passing 11 spending bills over the following 12 legislative days in order to avoid a government shutdown
• If they cannot agree on funding levels, they can pass a “continuing resolution,” which funds the government at current levels to give more time to negotiate
• The European Union (EU) releases an updated economic forecast
• China aggregate financing for August

Tuesday 09/12:

• National Chocolate Milkshake Day
• U.S. NFIB Small Business Optimism Index data for August
• Apple hosts “Wonderlust,” its biggest product event of the year, where the company set to unveil the iPhone 15 and next-generation smartwatches

Wednesday 09/13:

• U.S. consumer price index (CPI) for August
• CPI is expected to have increased 0.6% month-over-month and 3.6% year-over-year
• Core CPI, which excludes volatile food and energy costs, is expected to have increased 0.2% month-over-month and 4.3% year-over-year
• Eurozone industrial production
• U.K. industrial production
• Semiconductor chip designer Arm Holdings will price its shares for its IPO, and the stock will start trading the next day
• The company’s most recent disclosure estimates the proposed range would value the company somewhere between $48-$52 billion, which would make it the third largest-ever IPO on the Nasdaq (behind Facebook in 2012 and Rivian in 2021)

Thursday 09/14:

• Adobe, Lennar, and Copart report earnings
• European Central Bank (ECB) monetary policy decision, which will be followed by President Christine Lagarde’s press conference
• The ECB is expected to keep its main refinancing operations rate steady at 4.25%
• United Auto Workers (UAW) union contracts with General Motors, Stellantis, and Ford are set to expire
• U.S. retail sales for August
• U.S. producer price index (PPI) for August
• U.S. initial jobless claims and continuing claims data

Friday 09/15:

• U.S. University of Michigan Consumer Sentiment Index
• U.S. industrial production for August
• China property prices, retail sales, and industrial production data for August