Schwab: our local Schwab office -- and specifically our personal Schwab broker -- hosts a monthly luncheon -- Investing 101 and Market Updates -- about twenty folks are invited --for the past year it's been interesting to watch the number of investors incredibly concerned about the future of the market; it will be interesting to see the (expected) "sea change" later this month.
Big story: today, if listening to CNBC all day long -- CNBC generally very, very negative -- everything points to an incredible 2024. We may be in best "investing configuration" we've seen in a very, very, very long time.
Empire State Manufacturing Survey: holy mackerel — up 9.1% when expectations were a minus 0.9%. Bidenomics? Link here.
Houses: mortgage demand highest in five months.
Target: earnings smash estimates.
Right now, overnight futures: hold.
Wow, this gets tedious. The WSJ.
Wholesale prices in October posted their biggest decline in 2½ years, providing another indication that the worst of the inflation surge may have passed.
The producer price index, which measures final-demand costs for businesses, declined 0.5% for the month, against expectations for a 0.1% from the Dow Jones consensus.
The department said that was the biggest monthly decline since April 2020. Excluding food and energy, core PPI was unchanged, also below the forecast for a 0.3% increase. Excluding food, energy and trade services, the index increased 0.1%.
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