Monday Morning Meeting Notes (05/20/2024)

Weekly Economic Insights

Monday Morning Meeting Notes (05/20/2024)

Bradley Prosper, CFA®, CFP® Weekly Economic Insights

Monday Morning Meeting Notes (05/20/2024)

General Info:

  • U.S. consumer price index (CPI) data for April remained sticky with housing costs continuing to be the biggest component of inflation, while motor vehicle insurance climbed at its fastest pace since 1976
  • CPI rose 0.3% month-over-month and 3.4% year-over-year
  • Core CPI, which excludes volatile food and energy costs, rose 0.3% month-over-month and 3.6% year-over-year
  • Fun Fact: The Isaly Dairy Company invented the Klondike Bar in 1929. Until the 1970s, Klondike Bars were only sold in Pennsylvania and Ohio. Pittsburghers to this day know and love Isaly's Deli for its chipped ham and barbecue sauce
  • Klondike Bars are now owned by Unilever, a British food conglomerate. My Dad, like many Pittsburghers, remembers Klondikes as a childhood favorite, but he feels that they're much smaller than they used to be! I agree!

Monday 05/20:

  • Taiwan export orders for April
  • Inauguration of Lai Ching-te as President of Taiwan

Tuesday 05/21:

  • Canada CPI data for April

Wednesday 05/22:

  • National Vanilla Pudding Day
  • The creamy pudding we know today is related to custard, minus the eggs. In 1837, Alfred Bird invented an egg-free custard powder using flavored cornstarch because his wife was allergic to eggs
  • Federal Reserve (Fed) releases the minutes from its April 30th-May 1st monetary policy meeting
  • U.S. existing home sales for April
  • Eurozone new car registrations for April
  • U.K. CPI data for April

Thursday 05/23:

  • U.S. new home sales for April
  • U.S. initial jobless claims and continuing claims data
  • S&P Global Services PMI data for the U.S., U.K., Eurozone, Germany, France, Japan, and India
  • S&P Global Manufacturing PMI data for the U.S., U.K., Eurozone, Germany, France, Japan, and India
  • Taiwan industrial production for April

Friday 05/24:

  • U.S. University of Michigan consumer sentiment index
  • Japan CPI data for April

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.