Monday Morning Meeting Notes (01/29/2024)

Weekly Economic Insights

Monday Morning Meeting Notes (01/29/2024)

Bradley Prosper, CFA®, CFP® Weekly Economic Insights

Monday Morning Meeting Notes (01/29/2024)

General Info:

  • In the U.S., Q4 2023 GDP grew at a pace of 3.3% annualized (vs. expectations of 2.0%), while GDP grew by 2.5% for the full-year 2023
  • Government and consumer spending, particularly on recreational goods and health care, were the primary drivers of the full-year strength
  • The Federal Reserve’s preferred inflation measure – core personal consumption expenditures – rose 0.2% month-over-month in December and 2.9% year-over-year (vs. expectations of 0.2% and 3.0%, respectively)
  • Fun Fact: The first mechanical calculator (also known as a Pascaline) was invented by Blaise Pascal, a French mathematician, when he was 18 in 1642, to help is father calculate mathematic sums
  • The first handheld calculator was invented by Texas Instruments in 1967

Monday 01/29:

  • Super Micro Computer reports earnings
  • National Puzzle Day

Tuesday 01/30:

  • Microsoft, Alphabet, Advance Micro Devices, Starbucks, Marathon Petroleum Corp, and UPS report earnings
  • U.S. Conference Board consumer confidence index for January
  • U.S. Job Openings and Labor Turnover Survey (JOLTS) data for December
  • Eurozone, Germany, France, Spain, Italy, and Mexico report Q4 2023 GDP data
  • Eurozone consumer confidence and economic confidence

Wednesday 01/31:

  • Boeing, Qualcomm, and Align Technology report earnings
  • U.S. Federal Reserve (Fed) monetary policy meeting, followed by Chair Jerome Powell’s press conference
  • No changes to the fed funds rate are expected at the meeting, but the meeting notes and press conference will be watched closely for any insights on policy for the year-ahead
  • U.S. Treasury quarterly refunding – officials are expected to announce plans for auctions of 3-year notes, 10-year notes, 30-year bonds, and other borrowing plans
  • Germany consumer price index (CPI) and unemployment data for January
  • China Manufacturing PMI and Non-Manufacturing PMI data for January
  • Japan industrial production, retail sales, and housing starts for December

Thursday 02/01:

  • Apple, Amazon, Meta, Deutsche Bank, BNP Paribas, and Dover Corp report earnings
  • U.S. ISM Manufacturing PMI data for January
  • U.S. light vehicle sales for January
  • U.S. initial jobless claims and continuing claims data
  • Bank of England (BOE) monetary policy meeting
  • S&P Global Manufacturing PMI for the U.S., Eurozone, U.K., Germany, France, Japan, South Korea, and India
  • Eurozone CPI data for January
  • China Caixin Manufacturing PMI data for January
  • Hong Kong retail sales for December
  • Macau casino revenue for January

Friday 02/02:

  • AbbVie, Aon PLC, Cigna, Bristol-Myers Squibb, Chevron, Exxon Mobil, and Church & Dwight report earnings
  • Groundhog Day – will Punxsutawney Phil see his own shadow and curse us with six more weeks of winter?
  • U.S. employment report for January is expected to show 180,000 new jobs added
  • The unemployment rate is expected to remain steady at 3.7%
  • University of Michigan consumer sentiment index for January
  • South Korea CPI data for January

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.