Monday Morning Meeting Notes (03/11/2024)

Weekly Economic Insights

Monday Morning Meeting Notes (03/11/2024)

Bradley Prosper, CFA®, CFP® Weekly Economic Insights

Monday Morning Meeting Notes (03/11/2024)

General Info:

  • U.S. employment report for February showed 275,000 new jobs added (vs. expectations of 190,000)
  • The December reading was revised lower by 43,000 (from 333,000 to 290,000 jobs added), and the January reading was revised lower by 124,000 (from 353,000 to 229,000 jobs added)
  • The unemployment rate rose from 3.7% to 3.9% as the household survey showed the number of unemployed people increased by 334,000 (150,000 new people entering the workforce plus a 184,000 person decrease in employment)
  • Average hourly earnings rose 0.1% month-over-month and 4.3% year-over-year
  • Fun Fact: Chimichanga means “thingamajig.” Considered to be Mexican food, chimichangas actually originated from Tucson, Arizona. The name was coined in the 1950s by a cook who was trying not to curse in front of kids

Monday 03/11:

  • Oracle reports earnings
  • U.S. budget proposal from President Biden
  • Japan Q4 2023 GDP data (final reading)

Tuesday 03/12:

  • U.S. consumer price index (CPI) data for February
  • CPI is expected to have risen 0.4% month-over-month and 3.1% year-over-year
  • Core CPI, which excludes volatile food and energy costs, is expected to have risen 0.3% month-over-month and 3.7% year-over-year
  • U.S. NFIB Small Business Optimism index for February

Wednesday 03/13:

  • Lennar Corp and Dollar Tree report earnings
  • Eurozone industrial production for January
  • U.K. industrial production for January
  • South Korea unemployment rate for February

Thursday 03/14:

  • Adobe, Dollar General, Ulta Beauty, Dick’s Sporting Goods, and Getty Images report earnings
  • National Pi Day
  • According to the American Pie Council, 20% of Americans have eaten an entire pie by themselves
  • U.S. initial jobless claims and continuing claims data
  • U.S. producer price index (PPI) data for February
  • U.S. retail sales for February

Friday 03/15:

  • U.S. University of Michigan consumer sentiment index
  • U.S. industrial production for February
  • Bank of England (BOE) issues the results of its inflation survey

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.