Here is the story of the day...although it came out a day or two ago. China's widening iPhone curbs roil US technology sector https://finance.yahoo.com/news/apple-tumbles-drags-wall-street-131316405.html (BOLD is my opinion OR what I consider important content) "(Reuters) -Beijing's widening curbs on iPhone use by government staff raised concerns among U.S. lawmakers on Thursday and fanned fears that American tech companies heavily exposed to China could take a hit from rising tensions between the countries. Apple fell more than 3% and was on track for its worst two-day decline since November after news that Beijing has told employees at some central government agencies in recent weeks to stop using their Apple mobiles at work. Several Wall Street analysts said the curbs show that even a company with a good relationship with the Chinese government and a large presence in the world's second-largest economy was not immune to rising tensions between the two nations. Sino-U.S. friction has worsened in recent years as Washington tries to restrict China's access to key technologies including cutting-edge chip technology, and Beijing looks to reduce its reliance on American tech. Apple supplier Qualcomm, one of the U.S. companies with the largest China presence, tumbled nearly 7% to lead losses among major tech firms. Lawmakers of both major U.S. parties have been vocal in their concerns about national security risks allegedly created by China's products, pressuring the Biden administration to get even more aggressive with Beijing. The wider ban is not surprising and shows how China is trying to limit a Western company's market access to the nation, said U.S. Representative Mike Gallagher, the chairman of the House panel on China. "This is textbook Chinese Communist Party behavior - promote PRC (People's Republic of China) national champions in telecommunications, and slowly squeeze Western companies' market access," Gallagher, a Republican, told Reuters. U.S. Senator Mark Warner, a Democrat and the chair of the Senate Intelligence Committee, also shared similar concerns and said, "as the Chinese economy stalls, we can potentially anticipate more aggressive moves against foreign businesses". China has curbed shipments from prominent U.S. firms including planemaker Boeing and memory chipmaker Micron. Other suppliers of the iPhone maker including Broadcom, Skyworks Solutions and Texas Instruments were also lower, falling between 1.8% and 7.3%. The drop in the technology sector weighed on the three main U.S. stock indexes, particularly the tech-heavy Nasdaq Composite, which lost 0.9% in afternoon trading. "This announcement seems to have just refocused investors that the relationship between the U.S. and China is a big risk to current equity prices, particularly in technology," said Rick Meckler, partner at Cherry Lane Investments. IPHONE SLOWDOWN China has been a bright spot for Apple in an otherwise tough period for iPhone sales. "China is a crucial market for Apple, not just because it's a super-important manufacturing hub, but because the country is an increasingly important source of revenues," said Susannah Streeter, head of money and markets at Hargreaves Lansdown. Apple gets nearly a fifth of its revenue from the country. "Already rivals are closing the gap in high-end smartphone sales, and if the situation were to escalate this could potentially allow competitors to have a greater chance of stealing Apple's crown," Streeter said. China's Huawei last week launched its new Mate 60 Pro smartphone, which is powered by an advanced chip made by Chinese contract chipmaker SMIC and marks a breakthrough for the duo hit by U.S. sanctions. Those sanctions cut Huawei's access to chipmaking tools essential for producing the most advanced handset models, hammering the company's business and allowing Apple to take some market share from the national favorite in China. "If Huawei has the capability to supply and scale its home-grown Kirin 9000S (chips), we see the Mate series phone as an opportunity for Huawei to increase its shipments and regain its market share," analysts at BofA Global Research said. Apple could, however, see a demand boost after an event next week where it is expected to unveil its iPhone 15 line-up, as well as new smartwatches." MY Comment We have STUPIDLY as a country and in business tied ourselves to China. Management malpractice at these companies. The Chinese government does not do anything that is not calculated. Nothing they do is random. We are going to see more and more American companies and products replaced by their in-house products. They will do whatever they have to do to protect their industry, economy and country. Trade agreements, contracts, etc, etc etc, do not matter. They are only good for as long as China wishes and than they will simply walk away from them. There will not be a single thing anyone can do. Their courts like everything else in the country are under government control.
I like this little article. Interest Rates Matter, but the Economy Is far Bigger https://www.fisherinvestments.com/e...st-rates-matter-but-the-economy-is-far-bigger (BOLD is my opinion OR what I consider important content) "Focusing on the fed-funds rate misses the big picture. Economists have had to eat a lot of crow this year, what with most developed nations avoiding recession and economic growth generally surprising to the upside. Evidently, it will soon be the Fed’s turn, with analysts anticipating this summer’s run of strong US data will force staff economists to double their 2023 GDP growth projections from June’s 1.0% estimate—which was an about-face from March’s recession projection. We could easily write a piece poking fun at all these eggheads with egg on their face, but we see something a tad more fascinating at work. You see, some analysts are already picking apart this forthcoming update to assess what it means for interest rates next year and whether the Fed will still project a full percentage point’s worth of cuts. We find this all rather misplaced, particularly for investors, as it places importance on the wrong factor. If Fed rates were some massive economic swing factor, we would get the obsession. But in reality, they are only one variable—and a small one at that. The interest rates that matter most to the real economy are those determining the cost of money for businesses and households, including business loan rates, mortgage rates, auto loan rates and consumer rates. These derive not from the fed-funds rate but from 10-year US Treasury yields. Conventional wisdom says Fed rate moves influence these, but the relationship isn’t so cut and dry. If it were, then the 10-year wouldn’t have been below fed-funds since November. In the nearly 10 months since then, the Fed has continued hiking rates while 10-year yields took a bouncy but sideways trip. In theory, the fed-funds rate should affect credit supply, if not the cost. This is because banks borrow at short-term rates and lend at long-term rates, making the gap between the two their rough profit margin on new loans. A larger gap means more profits, which makes banks far more eager to lend than when spreads are slim or even inverted. The easiest way to assess this gap, normally, is with the US Treasury yield curve, with fed-funds or 3-month yields at the short end and 10-year yields at the long end. But this works only if fed-funds and 3-month rates mimic banks’ actual funding costs. Traditionally, they did. Fed-funds’ primary purpose is to regulate banks’ funding costs, on the logic that if banks must pay a given rate to borrow from one another, the costs to borrow from depositors will naturally mirror that. This works in a world where banks must compete for a limited pool of deposits, but that isn’t the case today. Most banks—particularly large ones—have far more deposits than they need or want and, as a result, keep savings and checking rates painfully low for all of us normal people. CD rates are up, as are rates at some online-only or small banks, but the average national savings deposit rate is a measly 0.43%. Meanwhile, the fed-funds target range is up to 5.25% – 5.5%.[ii] Given loan growth is still clocking in at a decent 4.8% y/y rate—which exceeds the inflation rate, meaning credit is still growing in real terms—it doesn’t look to us like a higher fed-funds rate is having much effect on lending.[iii] Those last three paragraphs are a bit academic, so here is a picture to make the same point in a different way. Exhibit 1 shows quarterly GDP growth alongside the monthly average effective fed-funds rate since 1954. As you will see, we have had high rates, low rates and zero rates. We have had fast-rising and fast-falling rates, as well as long stretches with no action. Through it all, economic growth rates during expansions haven’t changed much. If anything, growth was slower in the zero-rate 2010s than in the painfully high-rate 1980s, to cherry pick a couple examples. Exhibit 1: GDP Growth and Fed-Funds Rates Don’t Have Much of a Relationship Source: St. Louis Fed, as of 9/6/2023. Average monthly effective fed-funds rate, July 1954 – August 2023 and quarterly annualized real GDP growth rate, Q3 1954 – Q2 2023. Considering the US economy has already proven it can grow through a variety of fed-funds rate environments, we just don’t buy the notion that the Fed’s 2024 moves are make-or-break for growth. Or for stocks, which care primarily about the expected economic conditions—not just interest rates. Economic activity is typically the major force swaying corporate earnings. So if the economy is growing or even accelerating, we struggle to see why the level of interest rates would be so darn determinate to stocks. It hasn’t been before. Why would it now? That so many seem to view the world backwards—putting interest rates above all else in importance—looks like a recipe for missing what truly matters most for markets. That oversight likely sets up positive surprise when the world doesn’t hit the skids as they assumed—a pretty fair summary of the last 11 months, in our view. As a general rule, things everyone looks at are already incorporated into stock prices. Fed rate moves are the textbook example of this right now, making it rather useless for investors to fixate on them. Stocks, which are up nicely through several rounds of rate hikes since last October, have long since moved on. Do yourself a favor and join them." MY COMMENT It is very difficult for investors to move on from the FED. The financial media is OBSESSIVE when it comes to the FED. Just look at the past couple of days as an example. Any rational person would have to admit that at this point the FED is basically irrelevant. BUT......not the media......the fear mongering and hype over the FED continues on steroids. Of course the media is inherently negative about everything. And of course the short term traders love it.....they thrive off negative day to day headlines that create market volatility. I have mentally moved on from the FED long ago. The markets should do the same thing....but....dont hold your breath.
AND.....of course.....good news is bad. US futures slip as Fed officials hint at rate respite https://finance.yahoo.com/news/us-f...espite-stock-market-news-today-112912037.html (BOLD is my opinion OR what I consider important content) "Stock futures slipped on Friday after officials hinted the Federal Reserve could keep high interest rates unchanged, with tech stocks poised to fall even as Apple's shares stabilized after dragging down the Nasdaq. Futures on the Dow Jones Industrial Average (^DJI) and the S&P 500 (^GSPC) were both down about 0.2%. Nasdaq 100 futures also fell around 0.2%, with Apple stock wavering around the flatline. Investors are weighing comments by several Fed policymakers that appeared to signal they could hold off from further rate hikes this year. That optimism was bolstered by Federal Reserve Bank of New York President John Williams saying on Thursday that US monetary policy is “in a good place,” though he did stress officials would be guided by economic data. Inflation data is key to the Fed's decision on whether to keep rates higher for longer, and concerns are growing about rising energy prices and their potential to keep price pressures hot. The start of a strike at Chevron's natural gas plants in Australia — which provide over 5% of global LNG supply — was seen as driving a jump in European gas futures (NG=F) on Friday. That follows a recent run-up in oil prices (CL=F) that also spread worries. Reports of Chinese curbs on the use of the iPhone by government officials and inside state companies sent Apple shares tumbling this week, wiping almost $200 billion off the stock's market value. The slide sent jitters through markets, hitting the iPhone maker's Asia suppliers in particular. But with Apple just days away from launching its next iPhone model, some analysts have soured on the stock — meaning its plunge may not be over yet. At the same time, Samsung is positioning its new Galaxy foldable smartphones as key contenders to take market share from the iPhone." MY COMMENT Poor APPLE......they are being canceled....at the moment. They are now disrespected along with MSFT. I doubt that it will last long......but....it is interesting to watch. I find the tone of this article a little strange.....especially the first paragraph. It seems like a vague attempt to make positive news a negative.....by implying.....that rates are not going to be CUT any time soon. I have no clue who the people are that I constantly see referenced in the media as having their hopes for a rate cut dashed. I dont see any probability in the slightest for rate cuts this year.....and....probably well into next year. Why or how the media keeps pushing the line of expectations for rate hikes is beyond me. BUT.....the good news is......the FED is either done or perhaps some where along the next six months might have one more hike left. Either way.....who cares about the FED.
We are in the GLORY DAYS of long term investing. There are more long term investors now than I can remember over the past 50+ years of investing. Why......because of the dominance of the 401K and IRA accounts. Just about no one trades their 401K or IRA. they invest it in Index Funds or other vehicles for the long term. In addition I believe that mind-set of a long term focus for retirement has spilled over into other types of accounts like taxable brokerage accounts. I see the average person as having a much more long term view of the markets now. In the old days anyone that said they were a long term investor on a message board would be instantly attacked as a buy and hold moron. Of course......all the current long term investors are a.....SILENT MAJORITY. They are mostly ignored in the daily financial media. The success of long term investing techniques and returns are ignored. The emphasis is all about....trading, trading, trading. BUT take heart.....you are not alone. YOU......WE....are the norm not the minority.
Sounds like good news to me....at least for one day....if it sticks. U.S. Treasury yields decline as investors consider interest rate policy path https://www.cnbc.com/2023/09/08/us-...s-consider-interest-rate-decisions-ahead.html (BOLD is my opinion OR what i consider important content) U.S. Treasury yields fell on Friday as investors fretted over the possibility of further interest rate hikes following the release of fresh economic data. The yield on the 10-year Treasury was down by nearly 2 basis point at 4.246%. The 2-year Treasury yield was also about 2 basis points lower at 4.938%. Yields and prices have an inverted relationship and one basis point equals 0.01%. Concerns about potential further interest rate hikes have been mounting among investors this week as several economic data points point toward sustained inflationary pressures as well as tightness in the labor market. These included initial weekly jobless claims on Thursday, which came in at 216,000, below the previously expected 230,000. The figures came after recent mixed labor market data, with the August jobs report published last week showing that nonfarm payrolls increased by more than expected, whilst the unemployment rate rose sharply. Cooling the labor market has been a key aim for the Federal Reserve alongside easing inflation. The central bank has followed a restrictive monetary policy approach since early 2022, which has included a series of interest rate hikes. The prospect of rates going higher still or staying elevated for longer has long raised concerns about a potential economic downturn and the impact that could have on businesses and consumers. Markets are widely anticipating the Fed to leave rates unchanged at its September meeting, however expectations for a November rate hike are around 42%, according to CME’s FedWatch tool. Investors are also gearing up for key data releases next week, including the latest consumer and producer price index reports. Several Fed policymakers said earlier this week that inflation data would be key for their decision-making going forward. " MY COMMENT Well this rate drop is a good start to the day. I think the focus on the service economy and service workers by the FED is ridiculous. At least the way it is played up in the media. Perhaps I am out of touch.....but I dont recall seeing anything from the FED about the HUGE increases in the union contracts that we are seeing now including the current negotiations and demands for auto workers......UPS workers....etc, etc, etc. Talk about inflationary wage hikes. BUT....on the other hand....if you can get a huge hike.....go for it. We are a free market economy......and....we dont need government controlling, or trying to control, the private economy. Just dont blame inflation on the relatively poorly paid service workers......who tend to work in the small business world.
Well as we start the day....soon....we are siting on a loss of about 1% for the SP500. It looks like we are headed to a loss for the week. For the past ONE MONTH....the return for the SP500 is (-1.07%). For three months we are at +3.66%. Not bad considering that includes August and the first week of September and the summer market doldrums. For six months and beyond.....returns are STELLAR. The real question.....does the past week and the past one month matter? Not really.....at least for me. I am still siting on a gain of just over +34% year to date. The markets over the past 4-5 weeks have been doing a lot of waffling around.....but....the impact on my year to date return has not been significant. I dont see the markets booming today.....but I can see them ending up flat. I do see the earnings that we just got done with as being.....MONEY IN THE BANK.....down the road for investors. Those good earnings were mostly ignored and are never mentioned. The bottom line....this is just how bull markets work......especially in the modern era of constant 24/7....blah, blah, blah.
Interesting reading some of the articles posted above and how the two different media outlets frame "investors" doing one thing vs the other. In one they are fretting about further hikes and the other it is a pause. Good example of how they just continually produce unfounded garbage. They know no more than the next guy.
Yes, the AAPL story continues to circulate in regard to China. There isn't much detail in any of it, but that is not surprising. I mean, it is a communist country with zero freedoms and a state controlled narrative.....literally everything is filtered through the dictatorship. I harp about it knowing full well it doesn't change anything. I just can't help it though. Several of these large US companies are constantly wagging their finger here in the US about all of the "injustices." I find it so telling that they commonly ignore and dismiss the fact of being heavily tied to doing business in a paranoid communist country. We never hear them discuss and take up the cause of forced labor, imprisoning workers inside of their own factories, raiding business and stealing technology, determining the size and type of family you will have, determining how many sons or daughters you may have, the type of internet access or phone you may use....and the list could go on with even worse atrocities. Yet, never a peep from them about it. Meanwhile, they never miss an opportunity to pick up the mic here in the US and tout some cause they are a champion of or advertising some way they are socially making a difference. All the while their large factories are generating product and money by operating in a communist country that destroys the very freedom they proclaim to defend here. So, they can take their "injustices" platform and shove it up their pretentious ass.
Okay, off of my soapbox. Looks like we are puttering along in the market today. I need to go in and add some contributions today and carry on as usual with my plan. That's about the only action going on for me this week. I haven't added or changed anything company wise....still just largely with the index funds. I have looked at a couple of different companies over the past month or so, but am in no hurry to add anything. I have enjoyed my simple portfolio and there is no need to make any changes.
Ok....I had seven of eight stocks up today.....but the one down was NVDA....so it pulled my account down. I was still in the Green but by a small amount. I also got beat by the SP500 by 0.11%. Another week done as we move to year end.
Ok.....a down week....but not too horrible. DOW year to date +4.31% DOW for the short week (-0.76%) SP500 year to date +16.10% SP500 for the short week (-1.30%) NASDAQ 100 year to date +39.91% NASDAQ 100 for the short week (-1.34%) NASDAQ year to date +31.48% NASDAQ for the short week (-1.94%) RUSSELL year to date +5.13% RUSSELL for the short week (-3.65%) I started this short week at +37.51% for my entire account year to date. At the close today I was at +34.34% year to date for the entire account. A little haircut of 3.17% for the week. Good thing it was a short week. BUT....we are doing well this year. The SP500 is at +16.10% year to date.....and......this is NOT total return. AND....we still have about 3.5 months to go. So far we are ahead of the typical average annual return. The NASDAQ 100 is +39.91% and the NASDAQ is +31.48%. So nothing to feel bad about at the moment. At this point a really good year. At some point soon.....we will see the end of this little period of market skittishness. I would rather see it like this than have it be crazy exuberance. This tells me that we have a long way to go in this young bull market.
This little data point flies in the face of the FED fear mongering this past week. NO.....lower end workers are NOT going to drive inflation. Walmart's pay change for entry-level employees another signal of easing labor market https://finance.yahoo.com/news/walm...-signal-of-easing-labor-market-190220265.html (BOLD is my opinion OR what I consider important content) "Walmart's (WMT) updated pay structure sent another signal to Wall Street that the labor market appears to be shifting. In mid-July, Walmart changed the way it pays entry-level workers. Stockers and personal shoppers for online orders who join the Walmart workforce now make the same starting wage as cashiers — about $1 less per hour than the starting wage for those roles three months ago. Pay for existing workers did not change. The world's largest retailer said it updated its pay structure to be "more consistent" across jobs and to create "new opportunities for associates to gain new skills from experience across the store," Anne Hatfield, a Walmart spokesperson, told Yahoo Finance. Hatfield added that nearly 50,000 employees received a wage increase following the change. "This news does indicate the labor market tightness is easing more broadly," Jefferies analyst Corey Tarlowe wrote in a note, adding: "We don't believe that this change will have a material impact on Walmart's payrolls." To some on Wall Street, the move suggests Walmart now has a leg up on workers, setting a different tone than earlier this year when it hiked its average hourly wage to $17.50 as companies struggled to attract enough staff. The tight labor market also led other major retailers such as Home Depot (HD) to announce billion-dollar investments in wages earlier this year. But that may no longer be the norm going forward, as Walmart is seen as a bellwether for the economy. As America's biggest private employer, providing nearly 1.6 million jobs in the US, Walmart often sets precedents for other retailers. "The application rates must be up," Sucharita Kodali, Forrester Research retail analyst, told Yahoo Finance. "This will definitely trickle over to other parts of retail." Other signs of slowing wage growth are emerging too. As Yahoo Finance's Myles Udland reported on Friday, wage gains for job switchers also point to an easing labor market. The three-month average of annual wage growth for job-hoppers dropped to 5.6% in August. That's down from 8.5% in July 2022, according to data from the Atlanta Fed. "We expect this labor market rebalancing to continue," Fed Chair Jerome Powell said last month. Meanwhile, Walmart stock continues to get a boost from investors, up nearly 20% from a year ago as consumers turn to the retail giant for value. In the retail giant's second quarter earnings, the Arkansas-based chain posted same-store sales that rose 6.30%, more than the 4.04% expected." MY COMMENT I love this example of corporate logic........a $1 wage cut for new employees that are stockers and personal shoppers......is really a great benefit for those people. By earnings $1 less per hour.......they will get the benefit of........"new opportunities for associates to gain new skills from experience across the store". I wonder if they are going to extend this pay cut philosophy to the company executives so they can.....ALSO.... get all the........"new opportunities to gain new skills from experience across the store"......by having their pay cut. The FED needs to be very careful with considering more rate hikes. We are a long way from seeing the impact of the hikes that are already in place on the economy.
Man, you are setting the bar really high for that group. Just think if they had actually started combatting inflation way back when it started to creep up. Instead, they fully dismissed any and everyone that cautioned them about it. Then, I think it was back in June, they did a mysterious pause for one month and really couldn't explain it, but immediately said they were going to continue hiking thereafter. I really think they are just guessing at this point. Let's not forget how obsessed they are with that 2%. I'm not sure what they will do. I could see them continuing with both occasional pauses and random hikes. At this point they are just throwing darts hoping they are lucky. I do agree the hikes in place have yet to fully show up. It will be nice to get beyond all of this at some point and have them out of the spotlight.
A little bit of the week in advance. Inflation, iPhones, and looming auto strikes: What to know this week https://finance.yahoo.com/news/infl...strikes-what-to-know-this-week-140049476.html (BOLD is my opinion OR what I consider important content) "Key inflation data, new iPhones, and a looming deadline for contentious labor negotiations await investors in the week ahead, the first full trading week of September. The economic highlight comes on Wednesday morning, when the Consumer Price Index (CPI) for August will be released. The report is set to show headline inflation continues to reverse its downtrend as oil prices rise. On the corporate side, Apple (AAPL) is scheduled to host its marquee fall event on Tuesday, with new iPhones, Apple Watches, and a new charging port for most devices expected to be announced. A September 14 deadline also looms in a contract dispute between the United Auto Workers and automakers Ford (F), General Motors (GM), and Stellantis (STLA), with workers threatening a strike when their current deal expires on Thursday. Last week, markets continued choppy trading that began back in August as concerns over sticky price inflation from an August report on the services sector sent stocks lower on Wednesday, while a decline in tech stocks over fears regarding China's economy weighed on equity markets. The tech-heavy Nasdaq (^IXIC) led the losses, falling near 2% during the holiday-shortened trading week. The benchmark S&P 500 (^GSPC) dropped 1.1% while the Dow Jones Industrial Average (^DJI) fell 0.4% Inflation will be in focus this week with Wall Street expecting another uptick in headline inflation. Economists forecast headline inflation rose 3.6% over the prior year in August, an increase from the 3.2% rise seen in July. Prices are set to rise 0.6% on a monthly basis. An increase in energy prices is expected to drive much of the increase. On a "core" basis, which strips out the volatile food and energy categories, CPI is forecast to rise 4.3% over last year in August, a slowdown from the 4.7% increase seen in July. Monthly core price increases are expected to clock in at 0.2%. The Federal Reserve's closer focus on core inflation has economists and investors confident the central bank won't raise rates in September. As of Friday, markets had priced in a 92% chance the Fed holds interest rates steady at the conclusion of its September 19-20 meeting, according to data from the CME Group. "We do not expect that [CPI data] will tip the scales towards a hike, given the mixed message delivered by the other employment reports and last month's inflation data," Jefferies economist Thomas Simons wrote on Friday. Also out this week will be the August retail sales report, which will provide a look at how resilient US consumers remain after a strong summer. Economists expect retail sales increased 0.1% in August, a noted decrease from the 0.7% jump seen in July. Data on producer prices, a read on small business optimism, and the weekly report on initial filings for unemployment insurance will also feature on the economic calendar. iPhone debut Apple's update of its signature product on Tuesday is expected to be a market moving event, and comes at a critical juncture for America's biggest public company. Apple stock slipped more than 6% in a two-day period last week after Chinese officials told employees at central government agencies to not use iPhones at work. A new high-end phone release from China's Huawei also added pressure on Apple. Some analysts, though, said the selloff was "overblown." But this trading hangs in the background of Apple's event, dubbed "Wonderlust," which is expected to see its iPhone lineup refreshed, new Apple Watches revealed, and the introduction of USB-C charging ports across its device lineup, sunsetting the lightning charger currently powering most iPhones. "Historically, the iPhone launch has been a sell-the-news event," Morgan Stanley analyst Erik Woodring wrote in a preview of the event. "While we don't expect the day-of stock reaction to the September 12th Wonderlust event to be any different this year, we continue to believe that FY24 iPhone expectations are too low and that the iPhone 15 cycle is not as 'iterative' as anticipated, with the potential for both unit and [average selling price] growth."" "Weekly calendar Monday Economic data: No notable economic news. Earnings: Bowlero (BOWL), Casey's (CASY), Oracle (ORCL) Tuesday Economic data: NFIB Small Business Optimism, August (91.3 expected, 91.9 prior) Earnings: No notable companies set to report. Wednesday Economic data: Consumer Price Index, month-over-month, August (+0.6% expected, +0.2% previously); Core CPI, month-over-month, August (+0.2% expected, +0.2% previously); CPI, year-over-year, August (+3.6% expected, +3.2% previously); Core CPI, year-over-year, August (+4.3% expected, +4.7% previously); Real average hourly earnings, year-over-year, August (+1.1% previously) Earnings: Cracker Barrel (CBRL) Thursday Economic data: Initial jobless claims (216,000 previously); Retail sales, month-over-month, August (+0.1% expected, +0.7% previously); Retail sales ex auto and gas, August (0.0% expected, +1% previously); Producer Price Index, month-over-month, August (+0.4% expected, +0.3% previously); PPI, year-over-year, August (+1.5% expected; +0.8% previously); Core PPI, month-over-month, August (+0.2% expected, +0.3% previously); Core PPI, year-over-year, August (+2.6% expected; +2.8% previously) Earnings: Adobe (ADBE), Lennar (LEN) Friday Economic data: Import prices, month-over-month, August (+0.3% expected, +0.4% previously); Export prices, month-over-month, August (+0.3% expected, +0.7% previously); Empire Manufacturing, September (-10.7 expected, -19 previously); Industrial production, month-over-month, August (+0.1% expected, +0.5 prior); University of Michigan consumer sentiment, September, preliminary (69.4 expected, 69.5 previously) Earnings: No notable companies set to report." MY COMMENT A typical week this week. We have not reached the point where EVERY WEEK has this sort of stuff going on. It is constant and unrelenting. It is always one thing or another.
