Monday Morning Meeting Notes (04/01/2024)
Bradley Prosper, CFA®, CFP® Weekly Economic Insights
Monday Morning Meeting Notes (04/01/2024)
General Info:
- U.S. personal consumption expenditures (PCE) largely grew in-line with expectations as wage growth was strong, spending continued to be robust, and service sector costs remained entrenched
- PCE is rose 0.3% month-over-month and 2.5% year-over-year
- Core PCE, which excludes volatile food and energy costs and is the Fed’s preferred inflation gauge, rose 0.3% month-over-month and 2.8% year-over-year
- Fun Fact: The patent for the first cast iron fire hydrant was lost in the Great Patent Office Fire of 1836
Monday 04/01:
- S&P Global Manufacturing PMI data for the U.S.
- ISM Manufacturing PMI data for the U.S.
- China Caixin Manufacturing PMI
Tuesday 04/02:
- U.S. light vehicle sales for March
- U.S. Job Openings and Labor Turnover Survey (JOLTS) for February
- S&P Global Manufacturing PMI for the Eurozone, U.K., Germany, France, and India
Wednesday 04/03:
- S&P Global Services PMI data for the U.S.
- ISM Services PMI data for the U.S.
- Eurozone consumer price index (CPI) and unemployment data
- China Caixin Services PMI
Thursday 04/04:
- National Burrito Day
- U.S. initial jobless claims and continuing claims data
- S&P Global Services PMI for the Eurozone, U.K., Germany, France, and India
- European Central Bank (ECB) publishes the minutes from its March monetary policy meeting
Friday 04/05:
- National Deep Dish Pizza Day
- U.S. employment report for March is expected to show 200,000 new jobs added
- The unemployment rate is expected to have declined from 3.9% to 3.8%
- Average hourly earnings are expected to have remained strong at a growth rate of 0.3% month-over-month and 4.1% year-over-year
- Eurozone retail sales for February
About the Author
Bradley Prosper, CFA®, CFP®
Senior Research Analyst
Mr. Prosper is a member of the Firm’s investment research group where he assists in conducting investment research that is instrumental in the construction, maintenance, and management of client portfolios. This research includes the procurement of primary data via direct investment manager interviews as well as analyzing information from our data resources.