M Notes: Tue, 1-17

LAST WEEK:  

Markets:  Last week gave us a second strong week, as we begin 2023.   

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

Fed Balance Sheet:   $8.509 trillion (up $2 billion).   

Inflation:  We got the first Inflation update of the year when the new CPI came out last Thursday.  Expectations were for it to move down from 7.1% to 6.6%.  It came in a touch better… at 6.5%. 

Jobless claims:  The weekly number came in at 205,000.  The four-week average is 212,000. 

Radio:  Bill and I chatted about what to do if you won $1 Billion.   Here’s the link: https://parker-wealth.com/bill-and-chris-podcasts/bill-and-chris-fri-1-13.  You can normally hear Bill and I discuss Markets most Friday mornings at 6:38am, 7:38am, and 8:38am 1100 AM, WTAM. 

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THIS WEEK:

First Focus of the week:  There are lots of economic updates this week, but the first focus will likely rest on the wholesale inflation numbers (PPI).  Expectations are for wholesale inflation to drop from 7.4% down to 6.8%.  We’ll see those numbers on Wednesday morning.   

Second Focus of the week:  Earnings season is back in full swing now.  Financials had a difficult time last week.  And Goldman Sachs missed their earnings target badly this morning. So, in addition to watching how corporate results did in Q4, there will also be a focus on their forecasts for 2023.   

Holiday:  Markets were closed yesterday (Monday) in observance of the MLK holiday.    

Earnings:  Some of the companies reporting this week:   Charles Schwab, Goldman Sachs, Morgan Stanley, Netflix, PNC, Proctor & Gamble, and Schlumberger.   

Economic calendar:  The PPI update, retail sales, industrial production (Wed); housing starts, jobless claims (Thu); and existing home sales (Fri).