Last week, investors reacted to the election results and the FOMC’s 0.25% rate cut, driving U.S. stocks to new record highs. The S&P 500 gained 4.69% on the week. ForecastEx contracts accurately predicted the outcome of the presidential election and various other races.
This week, we will get the latest inflation data for October, which includes the Consumer Price Index (CPI)and Producer Price Index (PPI). CPI is expected to remain unchanged compared to September. Friday’s Retail Sales Report is anticipated to show healthy consumer spending in October. With inflation trending towards the FOMC target rate of 2% and robust consumer spending, there is optimism for continued economic growth.
Today, we honor military veterans, including my father, who served in the U.S. Armed Forces. Thank you for serving to protect our freedom and great country.
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Thank you for reading! You are welcome to contact me directly with questions or comments.
Regards,
David Bennett