By Bill Hornbarger, Chief Investment Officer
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Three Things to Watch
- Energy prices will be in focus this week. In early overseas trading, oil moved higher as China reopened, sanctions on Russian crude oil began, and OPEC+ kept output steady.
- The Fed meets next week and its members enter a blackout period ahead of the meeting. November’s strong jobs report has injected some uncertainty in terms of the size of the interest rate increase and traders will parse the data closely in anticipation. Meanwhile the central banks of Australia and Canada meet and both are anticipated to raise interest rates.
- Several closely watched retailers release earnings this week including Lululemon, AutoZone, and Costco.
Three Things to Know
- The last Boeing 747 rolls off the assembly line on Tuesday. A total of 1,572 aircraft were produced over a 54-year run. (Source: Wikipedia)
- With its loss on Sunday, North Carolina became the first preseason No. 1 college basketball team to lose four consecutive games. (Source: Heat Check CBB)
- Gas prices in the U.S. have moved down to $3.41 per gallon (national average), 32% below their all-time high in mid-June and at their lowest levels since early February. (Source: Charlie Bilello)
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.