Monday Morning Meeting Notes (10/16/2023)
Bradley Prosper, CFA®, CFP® Weekly Economic Insights
Monday Morning Meeting Notes (10/16/2023)
General Info:
- U.S. consumer price index (CPI) data for September showed that inflation continues to remain sticky
- CPI rose 0.4% month-over-month and 3.7% year-over-year (vs. expectations of 0.3% and 3.6%)
- Core CPI, which excludes volatile food and energy costs, rose 0.3% month-over-month and 4.1% year-over-year (in-line with expectations)
- Fun Fact: The Eiffel Tower was originally intended for Barcelona. The Spanish city thought it was too ugly, so Gustave Eiffel pitched it to Paris instead
- MMM Notes will be on a three-week hiatus as I will be in Barcelona to further assess how ugly the Eiffel Tower would’ve been in their beautiful city
Monday 10/16:
- 100th anniversary of the Walt Disney company, which is a great opportunity to re-watch classic Disney Channel Original Movies. My recommendation is “Brink!” because it’s an obscure sport (rollerblading), has the always-stylish late ‘90s fashion, and has one of the coolest team names of all time – Team Pup ‘N Suds
- Charles Schwab reports earnings
Tuesday 10/17:
- National Pasta Day – and on a side note, October is National Pasta Month
- According to the Encyclopedia of Pasta by Oretta Zanini De Vita, 310 specific kinds of pasta have been identified and over 1,300 names have been documented (names vary by region/town)
- Johnson & Johnson, Goldman Sachs, Bank of America, BNY Mellon, Prologis, Lockheed Martin, and JB Hunt Transport Services report earnings
- U.S. retail sales and industrial production data for September
- U.K. unemployment rate and jobless claims for September
- Chinese President Xi Jinping hosts world leaders at the Belt and Road Initiative forum in Beijing
Wednesday 10/18:
- Tesla, Netflix, Morgan Stanley, Abbott Labs, US Bancorp, M&T Bank, Northern Trust, State Street, Citizens Financial Group, Ally Financial, Volvo AB, Alcoa Corp, and Las Vegas Sands report earnings
- The Federal Reserve issues its Beige Book economic survey
- U.S. building permits and housing starts data for September
- Eurozone CPI data for September
- U.K. CPI data for September
- China reports Q3 2023 GDP data, as well as retail sales and industrial production data for September
Thursday 10/19:
- AT&T, Fifth-Third Bancorp, Blackstone, CSX Corp, Union Pacific, Marsh & McLennan, Pool Corp, KeyCorp, and Intuitive Surgical report earnings
- U.S. initial jobless claims and continuing claims data
- U.S. existing home sales data for September
- U.S. leading index for September
- China property prices for September
Friday 10/20:
- National Chicken and Waffles Day, which was founded in 2021 by Roscoe’s Chicken N’ Waffles
- American Express and Schlumberger report earnings
- Taiwan export orders for September
- Japan CPI data for September
- U.K. retail sales data for September
About the Author
Bradley Prosper, CFA®, CFP®
Senior Research Analyst
Mr. Prosper is a member of the Firm’s investment research group where he assists in conducting investment research that is instrumental in the construction, maintenance, and management of client portfolios. This research includes the procurement of primary data via direct investment manager interviews as well as analyzing information from our data resources.