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M Notes:  Mon, 2-12 Thumbnail

M Notes: Mon, 2-12

Week Close: 2-12-24 + (-) %
Dow 38,672 +18 +0.0%
S&P 5,027 +68 +1.4%
Nasdaq 15,991 +362 +2.3%
10-year 4.18 +0.16 +4.0%
Oil 76.53 +4.25 +5.9%


Markets:  Last Friday was a Historic day as the S&P 500 closes above 5,000 for the very first time.

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

Fed Balance Sheet:  $7.631 trillion (last week… up +1 billion).  Reminder: their balance sheet was closer to $4 trillion before the Pandemic. 

ISM:  Their Services index rose from 50.5 up to 53.4.   Last week their Manufacturing index rose from 47.1 up to 49.1.  A number below 50 implies a contraction, while a number above 50 implies an expansion.   

Jobless claims:  The weekly number came in at 218,000.  The four-week average came in at 212,000.

Radio:  Last Friday Bill & I chatted about Interest Rates, the Trade Deficit, and Historic Closes on the S&P 500.  Here’s the link: https://parker-wealth.com/bill-and-chris-podcasts/bill-and-chris-fri-2-9 .  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 moved from -$63 billion in November, to -$62 billion in December. 



Focus of the week:   Inflation.  We get the update on the Consumer Price Index (consumer inflation) on Tuesday, and the Producer Price Index (wholesale inflation) on Friday.   The CPI is expected to drop from 3.4% down to 3.0%.  The PPI is expected to drop from 1.0% down to 0.7%.    

Calendar:   The CPI (Tue); retail sales, industrial production, jobless claims (Thu); and the PPI (Fri).   

Earnings season:  It continues.   Some of the companies reporting this week:  Airbnb, Airbus, Applied Materials, Cisco, Coco-Cola, Deere, Kraft Heinz, Marriott, Nestle, and Sony.