Monday Morning Meeting Notes (10/09/2023)

General Info:

• The U.S. employment report for September showed 336,000 new jobs added (vs. expectations of 170,000), while the unemployment rate remained steady at 3.8%
• In addition, the prior two months’ reports had an upward revision of 119,000 jobs, bringing August to 227,000 and July to 236,000 jobs added
• For the first time in U.S. history, the Speaker of the House was removed from his position after the House of Representatives’ motion to vacate ended in a 216-210 vote
• The last time the House voted on a motion to vacate the speakership was in 1910, with then-Speaker Joseph Cannon maintaining his seat
• Fun Fact: Throughout the world, people are familiar with animals in police service, particularly dogs and horses. But, there are regions in China that rely on the loud and disruptive nature of geese to help police the streets.

Monday 10/09:

• Columbus Day/Indigenous Peoples Day in the U.S.
• U.S. stock market is open, U.S. bond market is closed, banks are closed, post-office is closed, and it’s a non-settlement day
• China aggregate financing, money supply, and new yuan loans for September

Tuesday 10/10:

• PepsiCo reports earnings
• U.S. NFIB Small Business Optimism Index for September
• The IMF issues its latest world economic outlook
• The Bank of England (BOE) releases the minutes from its September monetary policy meeting

Wednesday 10/11:

• The Federal Reserve (Fed) releases the minutes from its September monetary policy meeting
• U.S. producer price index (PPI) data for September

Thursday 10/12:

• Seven & i Holdings, Delta Air Lines, Walgreens Boots Alliance, and Domino’s Pizza reports earnings
• U.S. consumer price index (CPI) data for September
• CPI is expected to have risen 0.3% month-over-month and 3.6% year-over-year
• Core CPI, which excludes volatile food and energy costs, is expected to have risen 0.3% month-over-month and 4.1% year-over-year
• U.S. initial jobless claims and continuing claims
• The European Central Bank (ECB) releases the minutes from its September monetary policy meeting
• U.K. industrial production data for August

Friday 10/13:

• UnitedHealth Group, JPMorgan, Citigroup, Wells Fargo, PNC, and BlackRock report earnings
• University of Michigan consumer sentiment index (preliminary October data)
• China CPI, PPI, and import-export trade data for September
• Eurozone industrial production for August