October 10, 2022

Weekly Market Update

By Michael McKeown, CFA, CPA - Chief Investment Officer

Weekly Market Update

Chart of the Week

The Consumer Price Index reports showed monthly changes of 0.0% for July and 0.1% for August. This week the consensus of economists expects a 0.2% for September. The headline number, quoted as an annual change, will still be in the high single digits since we know the prior 11 months of data. Still, should we see a steady report of lower monthly changes, then headline inflation will be much lower by next spring. Indeed, if we see 0.3% monthly changes, the headline inflation data will be 4.2%. While this is a far above the Federal Reserve’s target, it is a move in the right direction.

U.S. Headline Inflation

What We’re Reading

Expectations (Five Short Stories) – Morgan Housel
There’s More Upside than Downside for Long-term Investors – Sam Ro
House Prices: 7 Years in Purgatory – Calculated Risk
What Does an Office Mean? Two Architects Discuss – Bloomberg

Podcast of the Week

Non-Traditional Endowment Investing – Invest Like the Best

The Past Week

Manufacturing grew last month at home and abroad. Services also showed expansion in the U.S. while it fell in the rest of the world. The jobs reported outperformed expectations by adding 263,000 new workers, though it was the lowest pace of job creation this year. The unemployment rate fell to 3.5%.

The Past Week

The Week Ahead

It seems the monthly inflation data surpassed the jobs report as the most anticipated economic report. We will see that this Thursday along with the retail sales report on Friday.

The Week Ahead

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