By Bill Hornbarger, Chief Investment Officer
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Three Things to Watch
- Both the S&P 500 and Dow Jones Industrial Average hit record highs after election night. The Trump Trade will be front and center this week, particularly if the House is also captured by the Republican Party.
- A very full calendar of economic news is on tap, highlighted by the October Consumer Price Index (CPI), retail sales and industrial production. CPI is expected to increase 0.2% month-over-month, with overall CPI falling to 2.4% year-over-year and core CPI stable at 3.3% versus a year ago.
- Expect another full week of earnings. With 90% of the S&P 500 having reported, the aggregate earnings surprise is almost 7%, with 75% of reporting companies posting positive surprises. High profile releases this week include Walt Disney, Cisco, Home Depot and Spotify.
Three Things to Know
- November 11 is Veterans Day each year, with only the day of the week fluctuating. What’s the significance of that exact date? The armistice between the Allied forces and Germany was put into effect on the 11th hour of the 11th day of the 11th month in 1918. (Source: parade.com)
- It’s not “Veteran’s Day” or “Veterans’ Day”—Veterans Day is actually spelled without an apostrophe. (Source: parade.com)
- Early projections show a record number of people didn’t vote in the November 2024 general elections. The number of people who abstained from voting jumped from 81.8 million in 2020 to 98.3 million in 2024. (Source: Carson Research)
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.