Monday Morning Meeting Notes (10/10/2022)

Weekly Economic Insights

Monday Morning Meeting Notes (10/10/2022)

Bradley Prosper, CFA®, CFP® Weekly Economic Insights

Monday Morning Meeting Notes (10/10/2022)

General Info:

  • The September employment report showed 263,000 new jobs added (vs. expectations of 250,000)
  • The unemployment rate declined to 3.5%, primarily due to the labor force participation rate declining from 62.4% to 62.3%
  • In order to increase oil prices, OPEC+ agreed to cut oil output by two million barrels per day
  • Brent crude prices rose from $86.35/barrel to $98.45/barrel last week
  • Fun Fact: The “M’s” in M&Ms stand for “Mars” and “Murrie” in recognition of Forrest Mars and Bruce Murrie, the two businessmen who created the candy-coated chocolates

Monday 10/10:

  • The U.S. bond market is closed in observance of Columbus Day/Indigenous People’s Day
  • The stock market will be open
  • The 2022 annual meetings of the International Monetary Fund (IMF) and World Bank kick off in Washington and run through October 16th

Tuesday 10/11:

  • NFIB Small Business Optimism Index for September
  • U.K. unemployment data, with the unemployment rate expected to remain at 3.6%
  • The IMF publishes its World Economic Outlook and Global Financial Stability Report

Wednesday 10/12:

  • The Fed releases the minutes from its September meeting
  • Industrial production data for the Eurozone, U.K., India, and Mexico
  • U.S. producer price inflation (PPI) will give insights into input costs
  • USDA World Agricultural Supply and Demand Estimates (WASDE) crop report for October

Thursday 10/13:

  • Blackrock reports earnings
  • U.S. consumer price inflation (CPI) for September is expected to show an 8.1% increase year-over-year
  • Core CPI, which excludes volatile food and energy costs, is expected to rise 6.5% year-over-year
  • CPI and Core CPI are expected to have risen by 0.2% and 0.4% month-over-month, respectively
  • U.S. initial jobless claims and continuing claims data
  • G-20 finance ministers and central bankers meet in Washington

Friday 10/14:

  • JPMorgan, Wells Fargo, Citigroup, Morgan Stanley, PNC, U.S. Bancorp, and UnitedHealth Group report earnings
  • U.S. retail sales data for September
  • U.S. University of Michigan consumer sentiment
  • The Bank of England (BOE) publishes its quarterly bulletin

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.