Monday Morning Meeting Notes (06/17/2024)

Weekly Economic Insights

Monday Morning Meeting Notes (06/17/2024)

Bradley Prosper, CFA®, CFP® Weekly Economic Insights

Monday Morning Meeting Notes (06/17/2024)

General Info:

  • U.S. Federal Reserve (Fed) maintained the fed funds rate at its previous target of 5.25%-5.50%
  • In addition, the Summary of Economic Projections (also known as the Dot Plot) was updated and showed that the Fed anticipates only 0.25% of rate cuts this year (down from 0.75% in March)
  • U.S. consumer price index (CPI) data for May rose 0.1% 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 3.5% year-over-year
  • Fun Fact: Starfish don’t have bodies. Along with other echinoderms (e.g. sea urchins, sea cucumbers, and sand dollars), their entire bodies are technically classed as heads

Monday 06/17:

  • National Mascot Day – mascots have been around for over 130 years, and the word is derived from the French word “La Mascotte”. A “mascotte” is considered a woman/girl with mystic powers and the ability to bring good luck
  • Lennar and La-Z-Boy report earnings
  • China property prices, retail sales, industrial production, and unemployment data
  • Canada housing starts and existing home sales for May

Tuesday 06/18:

  • U.S. retail sales for May
  • U.S. business inventories data for April
  • Eurozone CPI data for May

Wednesday 06/19:

  • U.S. Juneteenth holiday is observed, commemorating the end of U.S. slavery in 1865
  • U.S. stock and bond markets are closed, and post offices are also closed
  • U.K. CPI data for May
  • Bank of Japan releases the minutes from its April policy meeting

Thursday 06/20:

  • National Hike With A Geek Day….ladies, I’m available
  • Accenture and Kroger report earnings
  • U.S. initial jobless claims and continuing claims data
  • U.S. housing starts for May
  • Swiss National Bank monetary policy meeting
  • Taiwan export orders for May

Friday 06/21:

  • S&P Global Services PMI data for the U.S., Japan, Eurozone, U.K., Germany, France, and India
  • S&P Global Manufacturing PMI data for the U.S., Japan, Eurozone, U.K., Germany, France, and India
  • U.S. existing home sales for May
  • U.S. Conference Board leading index
  • Japan CPI data for May

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.