- Since 1990, the 3-month period starting in October has brought the S&P 500 a gain of 7%. On a rolling basis, that’s the strongest 3-month trading window for the entire year.
- A recent report from the International Monetary Fund (IMF) shows that the Federal Reserve may have trouble bring inflation down quickly. Interest-rate increases typically have their peak effect on inflation between 3-4 years later.
- Corporate investment in renewable energy will exceed oil and gas investments in 2022 for the first time ever. Analysts estimate that renewable energy will account for 35% of energy generation in the US by 2030.
- There have been 12 bear market bottoms in the S&P 500 since 1946, with an average decline of -32.7%.
Bloomberg- "After $13 Trillion Stock Crash, Traders Are Ready to Fight Back"
WSJ- "Higher Interest Rates Can Take a Long Time to Bring Down Inflation"
Barrons- "Big Oil's Surprisingly Bright Future. The Case for BP and Exxon."
The Irrelevant Investor "Animal Spirits: Why Isn't Inflation Falling?"
Economic Calendar
Monday:
Chicago Fed national activity index (Sep), S&P U.S. manufacturing PMI (Oct), S&P U.S. services PMI (Oct)
Tuesday:
S&P Case-Shiller U.S. home price index (SAAR) (Aug), FHFA U.S. home price index (SAAR) (Aug), Consumer confidence index (Oct)
Wednesday:
Trade in goods (advance report) (Sep), New home sales (SAAR) (Sep)
Thursday:
Real gross domestic product, first estimate (SAAR) (Q3), Real final sales to domestic purchasers, first estimate (SAAR) (Q3), Initial jobless claims (Oct), Continuing jobless claims (Oct), Durable goods orders (Sep), Core capital equipment orders (Sep)
Friday:
Employment cost index (SAAR) (Q3), PCE price index (Sep),Core PCE price index (Sep), PCE price index (12-month change) (Sep), Core PCE price index (12-month change) (Sep), PCE price index (3-month SAAR) (Sep), Core PCE price index (3-month SAAR) (Sep), Real disposable income (SAAR) (Sep),Real consumer spending (SAAR) (Sep), UMich consumer sentiment index (late) (Oct),UMich consumer 5-year inflation expectations (late) (Oct),Pending home sales index (Sep)
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