Monday Morning Meeting Notes (07/01/2024)

Weekly Economic Insights

Monday Morning Meeting Notes (07/01/2024)

Bradley Prosper, CFA®, CFP® Weekly Economic Insights

Monday Morning Meeting Notes (07/01/2024)

General Info:

  • U.S. personal consumption expenditures (PCE) for May were in-line with economist expectations
  • PCE was flat month-over-month and rose 2.6% year-over-year
  • Core PCE, which excludes volatile food and energy costs and is the Fed’s preferred inflation gauge, rose 0.1% month-over-month and 2.6% year-over-year
  • Fun Fact: Martin Van Buren, our eighth U.S. president, was the first president to be born an American. All previous presidents were originally British, having been born prior to 1776
  • Fun Fact II: Did you know bubble wrap was originally invented as wallpaper? Engineer Al Fielding and Swiss inventor Marc Chavannes invented bubble wrap by accident in 1957 while trying to create a textured wallpaper by sealing two shower curtains together to trap air bubbles


Monday 07/01:

  • S&P Global Manufacturing PMI data for the U.S., Japan, Eurozone, U.K., France, Germany, and India
  • China Caixin Manufacturing PMI data for June
  • Macau casino revenue for June


Tuesday 07/02:

  • U.S. job openings and labor turnover survey (JOLTS) data for May
  • U.S. light vehicle sales for June
  • Eurozone consumer price index (CPI) for June
  • Eurozone unemployment data for May


Wednesday 07/03:

  • Constellation Brands reports earnings
  • U.S. Federal Reserve releases the minutes from its June monetary policy meeting
  • U.S. initial jobless claims and continuing claims data
  • S&P Global Services PMI data for the U.S., Japan, Eurozone, U.K., France, Germany, and India
  • China Caixin Services PMI data for June


Thursday 07/04:

  • U.S. Independence Day holiday
  • Stock and bond markets are closed, XPYRIA’s office is closed, and post offices are closed
  • U.K. House of Commons general election
  • The European Central Bank (ECB) publishes the minutes from its June monetary policy meeting


Friday 07/05:

  • U.S. employment report for June is expected to show 188,000 new jobs added
  • The unemployment rate is expected to remain steady at 4.0%
  • Eurozone retail sales for May
  • Industrial production data for Germany, France, and Spain

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.