Monday Morning Meeting Notes (01/02/2023)

General Info:

• The SECURE 2.0 Act was signed into law with the intention to help increase retirement savings in America
• Some of the provisions are effective beginning in 2023, such as the required minimum distribution (RMD) age increasing from 72 to 73
• Fun Fact: Male seahorses go through pregnancy and give birth to babies. The males have a pouch on their stomachs in which they carry babies – as many as 2,000 at a time! They are the only animal on earth where the male carries the baby rather than the female
• Fun Fact II: Male seahorses giveth and the shoebill stork taketh! The shoebill stork can be up to 5 feet tall, has a wingspan of almost 8 feet, and can swallow baby crocodiles whole

Monday 01/02:

• U.S. stock and bond markets are closed in observance of the New Year’s Day holiday
• S&P Global Manufacturing PMI data for the Eurozone, Brazil, India, Mexico, and South Korea

Tuesday 01/03:

• S&P Global Manufacturing PMI data for the U.S., U.K., Canada, and Taiwan
• China Caixin Manufacturing PMI

Wednesday 01/04:

• U.S. ISM Manufacturing PMI data for December
• U.S. Job Openings and Labor Turnover Survey (JOLTS) data for November
• U.S. vehicle sales for December
• S&P Global Services PMI data for the Eurozone, Brazil, India, Mexico, and South Korea
• The Federal Reserve releases the minutes from its December 13-14^th meeting

Thursday 01/05:

• S&P Global Services PMI data for the U.S., U.K., Canada, and Taiwan
• Eurozone producer price index (PPI), a measure of input cost inflation, for November is expected to have decreased -0.8% month-over-month
• The year-over-year figure remains elevated as it is expected to go from 30.8% to 27.5%

Friday 01/06:

• U.S. employment report for December, which is expected to show 200,000 new jobs added
• The unemployment rate is projected to remain steady at 3.7%, while the labor force participation rate is expected to increase from 62.1% to 62.2%
• U.S. ISM Services PMI data for December
• Eurozone retail sales for November
• Eurozone economic confidence, consumer confidence, and consumer price index (CPI) for December
• CPI is expected to have declined -0.1% in December, which would result in the year-over-year figure declining to 9.5%
• Core CPI, which excludes volatile food and energy costs, is expected to remain at a reading of 5.0% year-over-year