By Bill Hornbarger, Chief Investment Officer
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Three Things to Watch
- On Sunday evening, significant progress was made to end the government shutdown at 40 days. It will take several days to fully reopen and fund the government, and it appears the all-important CPI report for October (scheduled for Wednesday) will not be released on time. With earnings season almost complete, there will be a heightened focus on the 13 U.S. Federal Reserve speakers/events on the tape and the pieces of economic data that will be released. That includes the NFIB Small Business Index and Federal Budget Balance, both out on Thursday.
- On Monday, the markets will have the opportunity to react to the prospect of a $2,000 tariff dividend for all Americans as proposed by President Trump, potentially in the form of a tax break. That will keep trade top of mind as the tariff questions have been taken up by the U.S. Supreme Court.
- Any movement on the reopening will also be closely followed. The lack of data has been particularly concerning in the middle of an easing cycle with heightened concerns about the economy.
Three Things to Know
- The University of Michigan Consumer Sentiment Index has moved down to 50.3, the second-lowest reading in the survey’s history (since 1952). But at the same time, U.S. retail sales grew 4.8% over the last year, outpacing inflation by 1.8%. (Source: Charlie Bilello)
- NVIDIA has been the second-best performing S&P 500 stock over the past five years and the best performer over the trailing 10-, 15- and 20-year timeframes. (Source: Charlie Bilello)
- The Rock & Roll Hall of Fame Class of 2025 included inductees such as Cyndi Lauper, OutKast, The White Stripes, Chubby Checker, Bad Company, Joe Cocker and Soundgarden. The induction ceremony was held Nov. 8 in Los Angeles. (Source: CoPilot)
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.