Monday Morning Meeting Notes (05/22/2023)

General Info:

• Fun Fact: Hawaiian pizza was invented in 1962 in Canada by a man from Greece named Sotirios “Sam” Panopoulos. Canada? Greece? Is that where the madness of this fun fact ends? Absolutely not, dear reader. He was inspired by his experience preparing Chinese dishes, which sometimes mix sweet and savory flavors. As a result, the Greek-born Canadian put a South American ingredient, pineapple, on an Italian dish at his Satellite Restaurant in Ontario
• As a proud Italian citizen who can be stubborn (or so I’ve been told), I refuse to try Hawaiian pizza as a matter of principle

Monday 05/22:

• Eurozone consumer confidence
• China loan prime rates
• Taiwan export orders

Tuesday 05/23:

• Lowe’s, VF Corp, Agilent Technologies, Dick’s Sporting Goods, and Endava PLC report earnings
• S&P Global Services PMI data for the U.S., Eurozone, Germany, France, and U.K.
• S&P Global Manufacturing PMI data for the U.S., Eurozone, Germany, France, and U.K.
• U.S. new home sales

Wednesday 05/24:

• NVIDIA, Splunk, and Ituran Location and Control report earnings
• The Federal Reserve (Fed) releases the minutes from its May 2^nd-3^rd monetary policy meeting
• U.K. consumer price index (CPI) for April

Thursday 05/25:

• National Wine Day
• Costco, Medtronic PLC, Dollar Tree, Best Buy, Toronto-Dominion Bank, and Canadian Imperial Bank of Commerce report earnings
• Second reading of Q1 2023 GDP data for the U.S. and the final reading for Germany

Friday 05/26:

• The U.S. bond market will close early (at 2pm) in observance of Memorial Day
• U.S. personal income and spending data for April
• U.S. personal consumption expenditures (PCE) for April
• PCE is expected to have increased 0.3% month-over-month and 4.3% year-over-year
• Core PCE, which is the Fed’s preferred inflation gauge, is expected to have increased 0.3% month-over-month and 4.6% year-over-year (March’s reading was also 4.6% year-over-year)
• U.S. University of Michigan consumer sentiment index for May