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Market Update

Making Sense: In Brief

Phillip Neuhart, Director of Market and Economic Research, brings you a brief overview of what's coming in the week ahead for markets and the economy.

Making Sense: In Brief video

Making Sense: In Brief

The week ahead for markets and the economy

Phil: After another incredibly volatile week in which markets digested a few things, stronger than expected retail sales data that was juxtaposed with earnings numbers from large retailers who cited margin pressures due to costs and consumers just spending less on big ticket merchandise. With that, let's look ahead to what to watch this week.

One, durable goods orders. Those are released on Wednesday. They count for orders of everything from machinery to transportation equipment to electrical equipment. What's happening with orders matters. It's a great indication for the market of future activity and where it is headed. They are expected to rise.

Also Wednesday, the Fed's FOMC minutes from the main meeting. It's an indication of what was being said in the room at that meeting that may not have been in the statement. In terms of the path of rates and the Fed's balance sheet, all eyes in terms of investors, remains on the Fed. Very important when you think about market movements.

Next, personal income and spending. That's released on Friday. Spending and income are expected to grow but what will it look like after adjusting for inflation? Is the consumer spending in real terms? Very important. As the last week reminded us, the US consumer is critical for markets, very difficult to separate the two. How the consumer goes is how the economy goes, and that's how markets go. One thing to add relative to the consumer, is initial jobless claims. That comes out Thursdays at 8:30 in the morning and we have seen—while jobless claims are at historically low levels—we have seen a modest uptick of late. Something to watch if you're looking for a weekly data point.

So a few things for the week: one, durable goods orders; two FOMC minutes; three, consumer income and spending.

Making Sense In Brief Outtro Slide

Brent Ciliano

CFA | SVP, Chief Investment Officer

Capital Management Group | First Citizens Bank

8510 Colonnade Center Drive | Raleigh, NC 27615

brent.ciliano@firstcitizens.com | 919-716-2650

Phillip Neuhart SVP, Director of Market and Economic Research

Capital Management Group | First Citizens Bank

8510 Colonnade Center Drive | Raleigh, NC 27615

phillip.neuhart@firstcitizens.com | 919-716-2403

Disclosures

The views expressed are those of the author(s) at the time of writing and are subject to change without notice. First Citizens does not assume any liability for losses that may result from the information in this piece. This is intended for general educational and informational purposes only and should not be viewed as investment advice or recommendation for a security, investment product or personal investment advice.

Your investments in securities, annuities and insurance are not insured by the FDIC or any other federal government agency and may lose value. They are not a deposit or other obligation of, or guaranteed by any bank or bank affiliate and are subject to investment risks, including possible loss of the principal amount invested. Past performance does not guarantee future results.

First Citizens Wealth Management is a registered trademark of First Citizens BancShares, Inc. First Citizens Wealth Management products and services are offered by First-Citizens Bank & Trust Company, Member FDIC; First Citizens Investor Services, Inc., Member FINRA/SIPC, an SEC-registered broker-dealer and investment advisor; and First Citizens Asset Management, Inc., an SEC-registered investment advisor.

Brokerage and investment advisory services are offered through First Citizens Investor Services, Inc., Member FINRA/SIPC. First Citizens Asset Management, Inc. provides investment advisory services.

Bank deposit products are offered by First Citizens Bank, Member FDIC.

Webinar Series

Making Sense: A Market Update

Join Brent Ciliano, First Citizens Chief Investment Officer, and Phillip Neuhart, First Citizens Director of Market and Economic Research, as they discuss what's going on in the markets and the economy.

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Your investments in securities, annuities and insurance are not insured by the FDIC or any other federal government agency and may lose value. They are not a deposit or other obligation of, or guaranteed by any bank or bank affiliate and are subject to investment risks, including possible loss of the principal amount invested. Past performance does not guarantee future results.

First Citizens Wealth Management is a registered trademark of First Citizens BancShares, Inc. First Citizens Wealth Management products and services are offered by First-Citizens Bank & Trust Company, Member FDIC; First Citizens Investor Services, Inc., Member FINRA and SIPC, an SEC-registered broker-dealer and investment advisor; and First Citizens Asset Management, Inc., an SEC-registered investment advisor.

Brokerage and investment advisory services are offered through First Citizens Investor Services, Inc., Member FINRA and SIPC. First Citizens Asset Management, Inc. provides investment advisory services.

Bank deposit products are offered by First Citizens Bank, Member FDIC.