What to Watch for this Week
$AAPL started to sell its new wares around the world last Friday. I found a chart that shows what the iPhone X would cost in different countries. The Stock has dropped 4.9% from its high on Sept. 1st, at 164.05. Will the iPhone X change the world or just be another evolution in the iPhone. I walked into the Apple Store in Austin, TX, and the place was packed on a Sunday night.
Global View
- Trump trades tweets and comments with North Korea, claiming the leader is on a suicide mission. U.S. is ready to strike if necessary.
- Trump has attacked the Joint Comprehensive Plan of Action (Iran Deal) There is an Oct. 15th deadline to recertify Iran’s compliance.
- U.S. – India ties complicate matters in Afghanistan.
CNBC has a great article on what should happen after the election.
Economic Calendar
Looking ahead, the Calendar this week, the most important news will be the personal income and spending, New Home sales, and the consumer confidence data. This data will show the real impact of the storms that hit Texas and Florida.
The country is waiting to see if Congress can pass legislation for tax reform or infrastructure spending.
The FOMC last week announced no change to the interest rates. However, it did launch its balance-sheet runoff with little market fallout. A testament to the resilience of the economy. The strong economy should allow policymakers to normalize interest rates and contract the balance-sheet.
Last Weeks Numbers
