Monday Morning Meeting Notes (11/20/2023)

General Info:

• U.S. consumer price index (CPI) for October rose at a slower-than-expected pace, which led to a market rally amid market participant expectations that the Federal Reserve would not hike rates next month
• CPI was flat at 0.0% month-over-month and rose 3.2% year-over-year
• Core CPI, which excludes volatile food and energy costs, rose 0.2% month-over-month and 4.0% year-over-year (vs. expectations of 0.3% and 4.1%, respectively)
• Fun Fact: In 1926, President Calvin Coolidge was gifted a live racoon intended to be his Thanksgiving dinner. Against the idea of eating a racoon, he pardoned the racoon, named her Rebecca, and kept her as a pet

Monday 11/20:

• U.S. Conference Board leading index
• Taiwan export orders for October

Tuesday 11/21:

• Nvidia, Autodesk, Analog Devices, Baidu, Medtronic PLC, and Kohl’s Corp report earnings
• The Federal Reserve (Fed) releases the minutes from its November 1^st policy meeting
• U.S. existing home sales for October

Wednesday 11/22:

• Deere & Co reports earnings
• U.S. University of Michigan consumer sentiment for November
• U.S. initial jobless claims and continuing claims data
• Eurozone consumer confidence for November

Thursday 11/23:

• U.S. stock and bond markets are closed for the Thanksgiving holiday
• Banks, post offices, and XPYRIA’s office are all closed
• S&P Global Manufacturing PMI data for the U.K., Eurozone, France, and Germany
• S&P Global Services PMI data for the U.K., Eurozone, France, and Germany
• The European Central Bank (ECB) releases the minutes from its October monetary policy meeting

Friday 11/24:

• XPYRIA’s office remains closed for the Thanksgiving holiday
• S&P Global Manufacturing PMI data for the U.S. for November
• S&P Global Services PMI data for the U.S. for November