- The U.S. dollar is up 15% this year against the euro, 20% on the British pound, and 25% on the yen. The strong dollar is starting to negatively impact American exporters as Goldman says they underperformed by 18% this year.
- A majority of investment professionals are saying the country is already in a recession or will be in one soon. At the same time, 72% picked the U.S. as the best investment opportunity in the next three years.
- The stock market this year has dropped 24%. Since 1950 the stock market has dropped 25% 9 times. All except one resulted in positive returns one year later with average returns of 22%.
- Many believe the market will be volatile this week as inflation data will be reported Thursday. 7 out of the 9 times inflation data was reported this year the market dropped.
Barrons- "The US Dollar is Super Strong. 8 Ways to Invest Abroad. "
Barrons- "Alt Pros Predict Recession. Where They're Putting Their Money."
The Irrelevant Investor- "Was That the Bottom?"
Bloomberg "Investors on Guard as Stocks Rally Sputters Ahead of Data Deluge"
Economic Calendar
Monday:
Chicago Fed President Charles Evans speaks at NABE, Fed Vice Chair Lael Brainard speaks at NABE
Tuesday:
NFIB small-business index (Sep), NY Fed 5-year inflation expectations (Oct), Cleveland Fed President Loretta Mester speaks at Economic Club of NY
Wednesday:
Producer price index, final demand (Sep), Minneapolis Fed President Neel Kashkari speaks at town hall, Fed Vice Chair Michael Barr speaks at DC Fintech Week event, Fed Gov. Michelle Bowman speaks at Money Marketeers
Thursday:
Consumer price index (Sep), Core CPI (Sep), Core CPI (three-month SAAR) (Sep),CPI (year-on-year) (Sep), Core CPI (year-on-year) (Sep), Initial jobless claims (Oct), Continuing jobless claims (Oct)
Friday:
Retail sales (Sep), Retail sales ex-motor vehicles (Sep), Import price index (Sep), UMich consumer sentiment index (early) (Oct), UMich 5-year inflation expectations (early) (Oct), Business inventories (Aug), Kansas City Fed President Esther George speaks on the outlook, Fed Gov. Lisa Cook speaks on the outlook
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