Market Notes: 5-15
Markets: They took a bit of a breather last week.
S&P roller coaster last week: up a touch, down, up, down, and down.
Fed Balance Sheet: $8.503 trillion (down $1 billion).
Inflation: The Consumer Price Index (consumer inflation) dropped a touch from 5.0% to 4.9% in April YOY. The Producer Price Index (wholesale inflation) dropped from 2.7% down to 2.3% in April YOY.
Jobless claims: The weekly number came in at 264,000. The four-week average came in at 245,000.
Radio: Bill and I chatted about Title 42 and the economic cost of illegal aliens. Here’s the link https://parker-wealth.com/bill-and-chris-podcasts/bill-and-chris-fri-5-12 . 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.
Focus of the week: Will there be any progress this week on the Debt Ceiling talks between President Biden and Speaker McCarthy?
Earnings: Some of the companies reporting this week: Alibaba, Applied Materials, Cisco, Deere, Home Depot, Target, TJX, and Walmart.
Economic calendar: Retail sales, industrial production, business inventories (Tue); housing starts (Wed); existing home sales, and jobless claims (Thu).