M Notes: Mon, 11-13

	Week Close: 11-10-23	+ (-)	%
Dow	34,283	+222	+0.7%
S&P	4,415	+57	+01.3%
Nasdaq	13,798	+320	+2.4%
10-year	4.64	+0.05	+1.1%
Oil	77.37	-3.14	-3.9%

LAST WEEK:

Markets:  Even though Fed Chair Powell warned Inflation hasn’t been tamed enough, Markets moved higher last week.  (Listen to the second radio segment below.)

S&P roller coaster last week:  Up slightly, Up, Up slightly, Down, and Up a lot.  

Fed Balance Sheet:  $7.861 trillion (down -$6 billion).  Reminder: their balance sheet was closer to $4 trillion before the Pandemic. 

Jobless claims:  The weekly number came in at 217,000.  The four-week average came in at 212,000.

Radio:  Bill and Chris chatted about a couple of things this past week.  First, they spoke about a study comparing the most/least Charitable States.  Here’s the link:  https://parker-wealth.com/bill-and-chris-podcasts/bill-and-chris-fri-11-10-part-1 .   Then they spoke about a comment from Fed Chair Jerome Powell that has received a bit of attention.  Here’s the link:  https://parker-wealth.com/bill-and-chris-podcasts/bill-and-chris-fri-11-10-part-2 .  You can hear Bill and I talk about Markets and the Economy most Friday mornings at 6:40am, 7:40am, and 8:40am on WTAM 1100 AM.  

Trade deficit:   It grew from $58.3 billion in August to $61.5 billion in September.  Exports were up $5.7 billion, while Imports were up $8.6 billion.  

 

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THIS WEEK:

Focus of the week:  Inflation.  Again.  Why?  Because it remains the focus of the Federal Reserve.  Expectations are the Consumer Price Index (CPI) will drop from 3.7% down to 3.3% on Tuesday.  The wholesale index, the Producer Price Index (PPI), is expected to drop from 2.2% down to 2.0% on Wednesday.  

Earnings Season is starting to wind down.  Some of the companies reporting this week:  Applied Materials, Cisco, Home Depot, Siemens, Target, TJX, and Walmart. 

Economic calendar:  CPI (Tue); PPI, retail sales (Wed); industrial production, jobless claims (Thu); and housing starts (Fri).