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Morning Matters:

The Week Ahead
by Geoff Garbacz

October 11, 2022

Major stock indexes rose this past week even though it did not feel like an up week, making it the sixth down week in the last eight weeks.

1. Geopolitical and Fiscal Events. This week sees the IMF meet on Monday. Wednesday sees the Bank of Korea meet. FOMC Minutes are due out on Wednesday as well. Friday the BOE is expected to end bond purchases. Watch our Twitter Feed (Bullet86) for Fed speaker announcements each day as they can change rapidly.

2. Economic Releases. Releases of note this week include the weekly chain store sales, oil/gas numbers, mortgage applications and NFIB Small Business Optimism Index, PPI, CPI, Treasury Budget, Retail Sales and University of Michigan Consumer Sentiment.

3. Earning Releases. Notable releases this upcoming week include: None of note (Monday), PEP (Tuesday), None of note (Wednesday), TSM BLK (Thursday) and UNH JPM on Friday.

Monday, October 10th

There are no economic releases of note as the government is closed for Columbus Day observances.

The U.S. Bond Market is closed.

The IMF Annual Meeting kicks off on Monday.

Tuesday, October 11th

September NFIB Small Business Optimism Index is due out at 6:00 a.m. EDT and came in last month at 91.80.

Wednesday, October 12th

September PPI is due out at 8:30 a.m. EDT and expected to come in at 0.2% from -0.1%.

The latest FOMC Minutes are due out at 2:00 p.m. EDT.

Bank of Korea meets and is expected to raise rates.

The latest NYSE and NASDAQ Short Interest Data is due out after the close and the collection period is from September 13th through September 28th. During this period, the S&P 500 fell -5.43%. We would expect short interest to rise as shorts pressed gains.

Thursday, October 13th

September CPI is due out at 8:30 a.m. EDT and is expected to rise by 0.4% from last month's 0.6%.

The September Treasury Budget is due out at 2:00 p.m. EDT and came in last month at $-219.6 Billion

Friday, October 14th

September Retail Sales is due out at 8:30 a.m. EDT and expected to come in at 0.2% from 0.3%.

The University of Michigan Consumer Sentiment (Prelim) - is due out at 10:00 a.m. EDT and estimates are for 58.6 from 58.60.

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