Monday Morning Meeting Notes (08/28/2023)

Weekly Economic Insights

Monday Morning Meeting Notes (08/28/2023)

Bradley Prosper, CFA®, CFP® Weekly Economic Insights

Monday Morning Meeting Notes (08/28/2023)

General Info:

  • Fun Fact: In ancient Greece, the host of dinner would take the first sip of wine to assure that the wine served to guests wasn't poisoned. This act of courtesy was where the phrase “drinking to one's health” originated
  • “Toasting” also began in ancient Greece. Ancient Rome continued the tradition of giving thanks, but Roman nobility also started dropping a piece of toasted bread into each wine glass to temper undesirable tastes or excessive acidity
  • The world’s oldest bottle of wine was found near the town of Speyer, Germany. It dates back to 325 A.D. and is on display at the town’s historical museum

Monday 08/28:

  • National Red Wine Day - tying it all back to our fun facts!
  • U.K. financial markets are closed for the Summer Bank Holiday

Tuesday 08/29:

  • U.S. Conference Board consumer confidence for August
  • U.S. Job Openings and Labor Turnover Survey (JOLTS) data for July
  • Japan unemployment for July

Wednesday 08/30:

  • Pure Storage, Five Below, and Brown-Forman report earnings
  • Second reading of Q2 2023 U.S. GDP, which is expected to remain at the previously recorded pace of 2.4% annualized
  • Eurozone economic confidence and consumer confidence data for August

Thursday 08/31:

  • UBS and Dollar General report earnings
  • U.S. personal income and spending for July, which includes an inflation measure known as personal consumption expenditures (PCE)
  • PCE is expected to have increased 0.2% month-over-month and 3.3% year-over-year
  • Core PCE, the Fed’s preferred inflation measure, is expected to have increased 0.2% month-over-month and 4.2% year-over-year
  • U.S. initial jobless claims and continuing claims data
  • The European Central Bank (ECB) publishes the minutes from its July monetary policy meeting
  • Eurozone consumer price index (CPI) for August
  • Eurozone unemployment for July
  • China Manufacturing and Non-Manufacturing PMI data for August

Friday 09/01:

  • U.S. employment report for August is expected to show 168,000 new jobs added
  • The unemployment rate is expected to remain steady at 3.5%, the labor force participation rate is expected to remain at 62.6%, and average hourly earnings are expected to have increased 0.3% month-over-month (and 4.3% year-over-year)
  • U.S. light vehicle sales for August
  • ISM Manufacturing PMI data for the U.S.
  • S&P Global Manufacturing PMI for the Eurozone, U.K., Germany, France, Japan, and India
  • Macau casino revenue for August

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.