By Bill Hornbarger, Chief Investment Officer
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Three Things to Watch
- Earnings reports will dominate this week as the government shutdown continues to restrict the number of economic releases. Tesla, Coke, Netflix and General Motors highlight the earnings calendar. So far, 58 S&P 500 members have reported, with 85% posting positive earnings surprises.
- On Friday, the Bureau of Labor Statistics will release the September Consumer Price Index (CPI), a week late. It is expected to remain slightly elevated and above the U.S. Federal Reserve’s target. Core CPI and overall CPI are both expected up 3.1% from a year earlier.
- And as has been the case in recent weeks, both trade (particularly with China) and the shutdown will be top of mind.
Three Things to Know
- Artificial intelligence currently writes a higher share of online articles than humans do (52% to 48%, respectively). Source: Markets & Mayhem
- In 1999, both of skydiver Joan Murray’s parachutes malfunctioned, leaving her to free-fall 14,500 feet above North Carolina. Miraculously, Murray survived, thanks to the fact that she landed directly on a mound of fire ants. Doctors believe that the intense shock of being stung over 200 times by the ants released a surge of adrenaline, which kept her heart beating. Source: Fascinating
- Oct. 19, 1987, was the single worst day for the stock market in history. That day (dubbed “Black Monday”) saw the Dow fall 22.6%. Despite that one-day fall, stocks ended the full year higher. Source: Ryan Detrick
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.