By Bill Hornbarger, Chief Investment Officer
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Three Things to Watch
- Another busy week will be highlighted by the U.S. Federal Reserve meeting and rate decision on Wednesday. Despite the government shutdown, the Bureau of Labor Statistics was able to release the Consumer Price Index last week, which came in below expectations and cemented the consensus view for another 25-basis-point rate cut this week. Futures are pricing the odds at 97%, and we will know at 2 p.m. ET on Wednesday.
- The third-quarter earnings season will continue to roll on with five members of the Magnificent 7 scheduled to report. Microsoft, Apple, Alphabet, Amazon and Meta will all be on the tapes. Earnings continue to surprise to the upside with tech earnings expected up in the mid-teens.
- Trade and the shutdown will remain top of mind. Sunday evening saw reports that the United States and China have hammered out the framework for a trade deal that Presidents Trump and Jinping can discuss on Thursday when they meet in person in South Korea.
Three Things to Know
- Americans spend an estimated $6 billion on Halloween each year, making it the second-largest commercial holiday after Christmas. (Source: Copilot)
- Black and orange are typically associated with Halloween. Orange is a symbol of strength and endurance and, along with brown and gold, stands for the harvest and autumn. Black is typically a symbol of death and darkness and acts as a reminder that Halloween once was a festival that marked the boundaries between life and death. (Source: Fact Retriever)
- During World War II, Japan deployed “Ohkas,” small rocket-powered aircraft capable of reaching speeds around 600 miles per hour, for Kamikaze attacks. Despite the loss of 700 Japanese pilots, these missions succeeded in sinking only three American ships and damaging seven more. (Source: History in Memes)
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.