Monday Morning Meeting Notes (04/22/2024)

General Info:

• Fun Fact: Liège, Belgium once had 37 domesticated cats deliver the mail. Waterproof bags containing letters were tied around their necks and then were driven out into the countryside, miles away from their homes and let go. They all made it home within 24 hours. Ultimately the scheme was abandoned as it was easier for people to deliver the mail than rely on a cat

Monday 04/22:

• SAP, Verizon, HDFC Bank, Truist Financial, and Medpace Holdings report earnings
• Taiwan export orders for March

Tuesday 04/23:

• Visa, Tesla, PepsiCo, GE Aerospace, Novartis, Danaher, Texas Instruments, Philip Morris International, NextEra Energy, UPS, Lockheed Martin, Chubb, Fiserv, Canadian National Railways, Sherwin-Williams, GM, Kimberly-Clark, NVR, and EQT Corp report earnings
• S&P Global Services PMI data for the U.S., Eurozone, U.K., France, Germany, Japan, and India
• S&P Global Manufacturing PMI data for the U.S., Eurozone, U.K., France, Germany, Japan, and India
• U.S. new home sales for March

Wednesday 04/24:

• Meta Platforms, Thermo Fisher, IBM, ServiceNow, AT&T, Lam Research, Boeing, Chipotle, Canadian Pacific Railway, General Dynamics, O’Reilly Automotive, Pioneer Natural Resources, VALE, Norfolk Southern, Ford, Old Dominion Freight, Align Technology, Markel, Owens Corning, and Robert Half report earnings
• U.S. durable goods orders for March

Thursday 04/25:

• Microsoft, Alphabet, Merck, AstraZeneca, T-Mobile, Caterpillar, Total Energies SE, Comcast, Intel, Union Pacific, Honeywell International, Sanofi, Bristol-Myers Squibb, KLA Corp, Gilead Sciences, Altria Group, Northrop Grumman, Capital One, WW Grainger, Newmont Corp, Keurig Dr. Pepper, Barclays PLC, Deutsche Bank, Fair Isaac Corp, Dover Corp, First Energy, VeriSign, Pool Corp, Harley Davidson, Casella Waste Systems, and CNX Resources report earnings
• U.S. GDP for Q1 2024, which is expected to have grown at a 2.5% annualized pace
• U.S. initial jobless claims and continuing claims data
• South Korea GDP for Q1 2024

Friday 04/26:

• Exxon Mobil, Chevron, and AbbVie report earnings
• U.S. personal income and spending data for March, which includes personal consumption expenditures (PCE)
• PCE is expected to have risen 0.3% month-over-month and 2.6% year-over-year
• Core PCE, which is the Fed’s preferred inflation gauge and excludes volatile food and energy costs, is expected to have risen 0.3% month-over-month and 2.7% year-over-year
• U.S. University of Michigan consumer sentiment for April
• Bank of Japan monetary policy meeting, which includes updated forecasts for GDP and inflation
• Japan consumer price index (CPI) for April