Three Things to Know & Watch

Jun 17, 2024

By Bill Hornbarger, Chief Investment Officer
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Three Things to Watch

  • This week’s data calendar includes retail sales, industrial production, housing data (existing home sales, housing starts) and the index of leading economic indicators (LEI). Retail sales are forecast to rebound after a disappointing report for the month of April, while LEI is forecast to be down the 27th time in the past 28 readings.
  • Market participants will hear from 12 separate Fed speakers a week after the Fed left rates unchanged and updated the dot plot to better reflect the Fed’s forecast of higher for longer.
  • Friday is also “triple witching”—an event in which stock options, stock index futures and stock index options all expire on the same day. This can often lead to heightened volatility on the days leading up to the event itself.

Three Things to Know

  • S. companies and state and local governments manage around $5 trillion in pension money. Large public pension funds have an average 14% of their assets in private equity, while large corporate pensions have almost 13% in private equity and other illiquid assets, such as private loans and infrastructure. Much of the money was committed when low bond yields were dragging down retirement portfolios. (Source: Wall Street Journal)
  • Israel said its forces launched flaming projectiles from a medieval trebuchet to burn vegetation in an effort to prevent Hezbollah militants from using the brush as cover. (Source: Wall Street Journal)
  • Over a span of 12 starts in June/July of 1968, St. Louis Cardinals pitcher Bob Gibson had 12 complete games, 12 wins, eight shutouts and a total of six runs allowed. (Source: @Super70sSports)

 

The above information reflects the current opinion of the author. It is based upon sources and data believed to be accurate and reliable. Opinions and forward-looking statements expressed are subject to change without notice. This information does not constitute a solicitation or an offer to buy or sell any security mentioned.