Author: Zac Martin, Investment Associate
Week Ending November 15th – Back to Reality
Consumer Price Index for October reported headline inflation higher than the report in September. Inflation accelerated to 2.6% year-over-year; the main driver of this increase was a positive change in energy prices.
NFIB Small Business Optimism increased during October, however, the NFIB Uncertainty Index reached a 51 year high. This may be at a peak as this report preceded the election. Small Business owners remain worried about the role of government spending & government employment.
Empire State Manufacturing Survey reported a 43-point increase to 31.2%, which is the highest reading in the past three years. The survey’s increase was primarily due to improved labor hours and steady employment.
Retail Sales for October reported slightly above analyst expectations, growing 0.4% month-over-month.
The week ahead:
Building Permits (11/19)
Leading Economic Indicators, Kansas City Fed Manufacturing Index (11/21)
Michigan Sentiment (11/22)
Earnings: WMT, KEYS (11/19), TGT, TJX, PANW, NVDA (11/20), DE, INTU, ROST (11/21)
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