My Investing Muse

Public Holidays There are no public holidays for China, Hong Kong, the USA & Singapore in the coming week. Economic Calendar (30Oct2023) Notable Highlights Fed ’ s interest rate decision should be a most watched event. An increase in the interest rate can be bearish though, the survey reckons that the Fed is expected to keep the interest rate the same. The surge in GDP for Q3 could be one of the reasons the Fed would consider increasing the rate as the economy gets hot. Payroll & Jobs . JOLTs job opening, average hourly earnings, Nonfarm payroll, ADP nonfarm employment change will form part of the payroll data. If these are favourable, this can be the reason why the Fed may rise the coming interest rate. CB consumer confidence (Oct) is a good indicator of the consumption in USA. PMI . PMI for both US and China will be released this week. This will cast the outlook for the manufacturing sector. For USA, there will be a few of them that include ISM Manufacturing PMI, ISM non-M...

UAW threatens to strike, affecting the Detroit 3 of GM, Ford & Stellantis. ABC News has reported the following: The union has asked for 46% raises in general pay over four years — an increase that would elevate a top-scale assembly plant worker from $32 an hour now to about $47. In addition, the UAW has demanded an end to varying tiers of wages for factory jobs; a 32-hour week with 40 hours of pay; the restoration of traditional defined-benefit pensions for new hires who now receive only 401(k)-style retirement plans; and a return of cost-of-living pay raises, among other benefits. Over the past decade, the Detroit Three have emerged as robust profit-makers. They’ve collectively posted net income of $164 billion, $20 billion of it this year. The CEOs of all three major automakers earn multiple millions in annual compensation. From the above, the demand for a 46% pay increase looks steep in contrast to the accumulated inflation rate of 18% since Jan 2020 as per BLS .  On top of...