Monday Morning Meeting Notes (05/29/2023)

Weekly Economic Insights

Monday Morning Meeting Notes (05/29/2023)

Bradley Prosper, CFA®, CFP® Weekly Economic Insights

Monday Morning Meeting Notes (05/29/2023)

General Info:

  • U.S. personal consumption expenditures (PCE) for April were slightly higher than expected
  • PCE increased 0.4% month-over-month and 4.4% year-over-year
  • Core PCE, which is the Federal Reserve’s preferred inflation gauge, increased 0.4% month-over-month and 4.7% year-over-year (March’s reading was 4.6% year-over-year)
  • Fun Fact: Roosters prevent themselves from going deaf due to their own loud crowing, by tilting their head backs when they crow, which covers their ear canal completely, serving as a built-in ear-plug. A study showed that their crowing averages over 100 decibels, which is roughly the same as running a chainsaw

Monday 05/29:

  • Financial markets and federal offices are closed in the U.S. for the Memorial Day holiday
  • Some European markets are also closed for holidays, including the U.K. (Spring Bank Holiday), Switzerland (Whit Monday), and Germany (Whit Monday)

Tuesday 05/30:

  • U.S. consumer confidence for May
  • Eurozone economic confidence and consumer confidence data

Wednesday 05/31:

  • Salesforce reports earnings
  • U.S. Job Openings and Labor Turnover Survey (JOLTS) for April
  • China Manufacturing PMI and Non-Manufacturing PMI data
  • The Federal Reserve (Fed) issues its Beige Book economic survey, which is based on reports from the Fed’s 12 district banks
  • The European Central Bank issues its financial stability review

Thursday 06/01:

  • Broadcom, Five Below, and Zscaler report earnings
  • Manufacturing PMI data for the U.S., Eurozone, Germany, France, U.K., and India
  • Eurozone consumer price index (CPI) data
  • U.S. light vehicle sales
  • Department of Energy issues its crude oil inventories report
  • The ECB releases the minutes from its May 3rd-4th monetary policy meeting

Friday 06/02:

  • U.S. employment report for May is expected to show 190,000 new jobs added, while the unemployment rate is expected to be 3.5%

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.