Last Week:

Most of the U.S. markets had a solid Q3.

The sixth FOMC Fed meeting of the year took place last Tuesday and Wednesday. As expected the Fed raised their interest rate up ¼ point; now at +2.0%.

Fed Chair Jerome Powell said the high levels of consumer and business confidence was “a particularly bright moment for the economy”.

The final read on Q2’s GDP remained at +4.2% growth. The 5-month average is +3.1% (a really good thing).

Durable goods orders were up +4.5% in August, blowing away the consensus of +2.2%. The July number was revised upward from -1.7% up to -1.2%.

This Week:

The economic focus of the week: It will come on Friday morning when the latest jobs and unemployment numbers are revealed. Expectations are for 180,000 new jobs, and the unemployment rate is expected to drop a tick from 3.9% down to 3.8%.

Indicator focus:  September’s ISM manufacturing index (Mon); ADP’s September employment report (Wed); August’s factory orders (Thu); and September’s jobs and unemployment numbers (Fri).

Hope you have a great week.


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