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M Notes:  Mon, 1-9 Thumbnail

M Notes: Mon, 1-9



Weekly Close:
1-6-2023
+ (-)
%
Dow
33,653
+506
+1.5%
S&P
3,917
+77
+2.0%
Nasdaq
10,728
+261
+2.5%
10-year
3.57
-0.31
-08.0%
Oil
74.65
-5.61
-7.0%


LAST WEEK:

Markets:  The New Year begins on a positive note.     

S&P roller coaster last week:  Holiday, down, up, down, and up a lot.   

Federal Reserve Balance Sheet:   $8.507 trillion (down $41 billion).    

ISM:  Their manufacturing index dropped from 49.0 down to 48.4.  A number below 50 signals a contraction.   

Jobs:  It came in at 223,000, beating the consensus number of 200,000 Friday morning.  But in this case… good news may be bad news.  And the concern the Fed may not back off from their rate hikes continues.   

Jobless claims:  The weekly number came in at 204,000.  The four-week average is 214,000. 

Radio:  Bill and I chatted about the latest jobs numbers, and Three things to watch for in 2023.  Here’s the link: https://parker-wealth.com/bill-and-chris-podcasts/bill-and-chris-fri-1-6-part-2.  You can normally hear Bill and I discuss Markets most Friday mornings at 6:38am, 7:38am, and 8:38am 1100 AM, WTAM.  

Unemployment:  The U3 rate dropped from 3.7% down to 3.5%.  

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THIS WEEK:

Focus of the week:  We get the first Inflation update of the year on Thursday morning.  The Consumer Price Index is expected to drop from 7.1% down to 6.6%.   

Earnings:  A new season begins.  Some of the companies reporting this week:   Bank of America, Blackrock, Citigroup, Infosys, JPMorgan, Taiwan Semi, UnitedHealth, and Wells Fargo. 

Economic calendar:  Jobless claims, and the CPI update (Thu).