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M Notes:  Mon, 9-19 Thumbnail

M Notes: Mon, 9-19

Weekly Close:
+ (-)%


Markets:   Inflation, and how the Fed will respond, are driving Markets lower.   It continues.  

S&P roller coaster last week:  Up, down significantly, up, down, and down. 

Fed Balance Sheet:   $8.83 trillion.   

Inflation #1:  The Consumer Price Index (CPI) gives us a read on consumer inflation.  It dropped from 8.5% down to 8.3% on Tuesday morning.  You would think that would be a good thing.  But the expectation was the index would drop to 8.1% and hopes were it would go below 8%.  Nada.  Markets sold off is a significant way.   

Inflation #2:  The Producer Price Index (PPI) gives us a read on wholesale inflation.  It dropped from 9.8% down to 8.7%, as expected.    

Jobless claims:  The weekly number came in at 213,000.  The four-week average is 224,000.

Radio:  You can normally hear Bill and me discuss Markets on many Friday mornings at 6:38am, 7:38am, and 8:38am 1100 AM, WTAM. 



Focus of the week:  All eyes will be on the Federal Reserve Wednesday afternoon.   The topic:  how will they battle Inflation at this meeting?  Just how much will they raise their interest rate?  And what will Jerome Powell say in his press conference?   

Economic calendar:  Housing starts (Tue); Fed meeting statement, the Fed Chair press conference, existing home sales (Wed); and jobless claims (Thu).