Monday Morning Meeting Notes (04/15/2024)

Weekly Economic Insights

Monday Morning Meeting Notes (04/15/2024)

Bradley Prosper, CFA®, CFP® Weekly Economic Insights

Monday Morning Meeting Notes (04/15/2024)

General Info:

  • U.S. consumer price index (CPI) data for March rose at a slightly faster-than-expected pace
  • CPI rose 0.4% month-over-month and 3.5% year-over-year (vs. expectations of 0.3% and 3.4%)
  • Core CPI, which excludes volatile food and energy costs, rose 0.4% month-over-month and 3.8% year-over-year (vs. expectations of 0.3% and 3.7%)
  • Housing and gasoline costs contributed more than half of the increase in the monthly CPI data
  • Fun Fact: Amaretto is Italy’s best-selling liqueur, and contrary to popular belief it’s made from apricot kernels, not almonds. For example, Disaronno Originale is a secret formula that infuses apricot kernel oil, absolute alcohol, burnt sugar (giving its deep amber color), and seventeen selected herbs and fruits
  • Amaretto was invented in Saronno, Italy – hence the name, Disaronno (“from Saronno”)

Monday 04/15:

  • Goldman Sachs, Charles Schwab, HDFC Bank, and M&T Bank report earnings
  • Federal income taxes are due in the U.S.
  • U.S. retail sales for March
  • Eurozone industrial production for February

Tuesday 04/16:

  • UnitedHealth Group, Johnson & Johnson, Bank of America, Morgan Stanley, PNC, BNY Mellon, Northern Trust, and United Airlines report earnings
  • U.S. housing starts and building permits data for March
  • China property prices, retail sales, and industrial production for March
  • China Q1 2024 GDP, which is expected to have grown 1.5% quarter-over-quarter and 4.8% year-over-year
  • The International Monetary Fund (IMF) publishes its latest world economic outlook

Wednesday 04/17:

  • ASML Holding, Abbott Labs, Prologis, CSX Corp, U.S. Bancorp, Crown Castle, Kinder Morgan, Las Vegas Sands, Discover Financial Services, Citizens Financial Group, Alcoa, and FNB Corp report earnings
  • Eurozone CPI data for March
  • U.K. CPI data for March
  • U.S. Federal Reserve (Fed) issues its Beige Book survey of regional economic conditions

Thursday 04/18:

  • Taiwan Semiconductor, Netflix, Intuitive Surgical, Elevance Health, Marsh & McLennan, Blackstone, D.R. Horton, PPG Industries, Pool Corp, and Ally Financial report earnings
  • U.S. initial jobless claims and continuing claims data
  • U.S. existing home sales for March
  • U.S. Conference Board leading index
  • Norway’s sovereign wealth fund issues its quarterly report

Friday 04/19:

  • Procter & Gamble, American Express, Schlumberger, Fifth Third Bancorp, and Huntington Bancshares report earnings
  • Japan CPI data for March
  • U.K. retail sales for March
  • India’s elections begin with Prime Minister Narendra Modi seeking a third term
  • As the world’s largest democracy, approximately 968 million people are eligible to vote

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.