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Amazon plans to automate 75% of its operations using AI and robots, potentially saving $4 billion a year and reducing the need for about 160,000 warehouse jobs by 2027. 1
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A survey of 1,000 U.S. workers found weekday lunch spending has jumped $20 year-over-year to $108.68 per week. Over half of the respondents skip lunch at least once a week, with 17% doing so to save money. 2
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Last week, NVIDIA became the first company in history to be valued at $5 trillion. That means the stock has grown by more than 44,000% over the last decade and is worth more than Germany’s entire GDP. *3
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The S&P 500 has gone over 170 trading days without a 3% drop—one of the 10 longest streaks since 1953. It’s also only the fifth time the index has gained 30%+ without a 3% pullback. *1
- MFS - "Beyond the News"
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Marketwatch - "We’re spending over $100 a week on lunch. How did ordering food at work become a luxury?"
- Forbes - "Nvidia Becomes First Company Worth $5 Trillion"
*Past performance is not indicative of future performance
Economic Calendar
Monday:
S&P final U.S. manufacturing PMI (Oct), ISM manufacturing (Oct), Construction spending (Sep), San Francisco Fed President Mary Daly speech, Fed governor Lisa Cook speech, Auto sales (Oct)
Tuesday:
Fed Vice Chair for Supervision Michelle Bowman speech, U.S. trade deficit (Sep), Factory orders (Sep), Job openings (Sep)
Wednesday:
ADP employment (Oct), S&P final U.S. services PMI (Oct), ISM services (Oct)
Thursday:
Initial jobless claims (Nov), U.S. productivity (Q3), Wholesale inventories (Sep), Fed governor Michael Barr speech, New York Fed President Williams speaks, Fed governor Christopher Waller speech, Philadelphia Fed President Anna Paulson speaks, St. Louis Fed President Alberto Musalem speaks
Friday:
New York Fed President John Williams speech, Fed Vice Chair Philip Jefferson speech, U.S. employment report (Oct), U.S. unemployment rate (Oct), U.S. hourly wages (Oct), Hourly wages year over year, Dallas Fed President Lorie Logan speaks, Consumer sentiment (prelim) (Nov), Consumer credit (Sep), Fed governor Stephen Miran speech
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