The Week Ahead – 1812 Overture

Welcome to “The Week Ahead” where we take a moment to provide our thoughts on what we can expect in markets and the economy during the upcoming week.

This past Saturday night I had the pleasure of attending the Pacific Symphony’s concert where they performed Tchaikovsky’s 1812 Overture. It was a spectacular performance with cannons and fireworks! Carl St. Clair, the Pacific Symphony’s Music Director, provided some interesting history regarding the piece. The first being that many Americans associate the 1812 Overture with the 4^th of July and, of course, fireworks. Also, due to the 1812 date, many people believe it is in reference to the war of 1812 with the United Kingdom. In reality, Tchaikovsky wrote the 1812 Overture to commemorate Russia’s stand against Napoleon’s invasion. Some additional history, Tchaikovsky himself directed the 1812 Overture at Carnegie Hall’s dedication in 1891! If you’ve never heard the piece performed live with cannons, make sure to put it on your calendar for next summer!

Inflation readings for both producers and consumers will be the focus for investors in the week ahead. Expect CPI to increase on the heels of the last week’s wage growth report (a solid +0.4% month over month and bringing wage growth +2.9% year over year). Unlike the Tchaikovsky’s 1812 Overture, don’t expect cannons and fireworks at the Fed’s September meeting, as the market is already currently pricing in a 98% chance for a rate hike to occur.

Data deck for September 8 – September 14: