Monday Morning Meeting Notes (11/28/2022)

General Info:

• With the most recent earnings season nearly finished (97% completed), below is an update
• S&P 500: sales grew +11.48% (an upside surprise of +2.60%) and earnings grew +3.42% (an upside surprise of +2.90%)
• S&P 500 excluding-Energy: sales grew +8.13% (an upside surprise of +1.86%) but earnings declined -4.39% (an upside surprise of +2.05%)
• Fun Fact: Despite its size of only 3-5cm, the Pistol Shrimp can snap its claw shut so rapidly that it creates a bubble, which collapses to produce a sonic blast louder than a Concorde’s sonic boom or a gunshot
• The shock wave can reach 210 decibels. The imploding bubble for a split second generates temperatures of 4,400 degrees Celsius, nearly as hot as the sun, killing its prey

Monday 11/28:

• Cyber Monday, the first Monday after Thanksgiving, when retailers in the U.S. and abroad traditionally hold special promotions and sales online

Tuesday 11/29:

• U.S. Conference Board consumer confidence for November
• Germany consumer price index (CPI)
• Japan unemployment and retail sales data

Wednesday 11/30:

• U.S. Job Openings and Labor Turnover Survey (JOLTS) data for October
• Eurozone CPI for November is expected to have been 10.4%
• The Federal Reserve (Fed) releases its Beige Book of regional economic activity
• Fed Chair Jerome Powell gives a speech at the Brookings Institute on the economy and the labor market

Thursday 12/01:

• S&P Global Manufacturing PMI data for the Eurozone, U.K., France, South Korea, India, and Taiwan
• China Caixin PMI
• U.S. personal income and spending data for October
• U.S. ISM Manufacturing PMI
• Eurozone unemployment rate for October is expected to have remained at 6.6%

Friday 12/02:

• U.S. employment report for November is expected to show 200,000 new jobs added, and the unemployment rate is expected to remain steady at 3.7%
• Eurozone producer price index (PPI)