00:00It feels very weird to be back in the chair talking about data that has crossed, but we do have the first data since the shutdown ended, and it is international trade for September.
00:10The trade deficit falls to $59.6 billion. The estimate was for $60.8 billion, and we were at $78.3 billion in July.
00:21Now, this is old data in the yes-but category. It does matter because it's basically the final piece of data that analysts need to put together, the third-quarter GDP report, which is going to be released next week.
00:37So good news for the overall U.S. economy, and kind of one headline out of this, imports from Canada in September were at their lowest since May of 2021, and that, of course, was during COVID.
00:50We're not getting along with Canada very well on a trade basis these days.
00:54Now, as I mentioned, GDP comes next week. Tomorrow we get the September jobs report.
01:00Not sure how much that's going to matter, but we will also get the latest numbers on jobless claims from last week.
01:09The Department of Labor is not going to publish the missing numbers between the start of the shutdown and the number that comes out tomorrow,
01:19but they will put the data online tomorrow afternoon.
01:22So if you want to go back and look at it yourself, you can, but we'll get the latest numbers and see where we are there.
01:29Real earnings Friday, not a big deal.
01:32The September PPI comes out next Tuesday, and then we get that GDP number for the third quarter,
01:38and they're going to go straight to the second version because they've already skipped past the first.
01:42That comes out Wednesday, along with income and spending for October.
01:47That's going to be an important number for a lot of people trying to calculate where we are.
01:51Then we get November income and spending on December 19th.
01:55We still do not know the fate of October's jobs, CPI, and PPI.
02:00The White House says they're not coming out, but we haven't heard that from the BLS.
02:04Jobs, CPI, and PPI for November.
02:06We don't know when those will come out, and we're still waiting on the status of October and November retail sales.
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