Key Takeaways
Happy National Donut Day! If you have not done so already, make sure you stop by your local donut shop to take advantage of any sweet freebies or promotions that may be going on today. While tempting to think this celebration was started just to promote sales (as if consumers need another reason to shop for or eat donuts!), you may find it interesting to know that the origins of National Donut Day trace back to 1917, when female volunteers from the Salvation Army traveled to France to serve homemade donuts to soldiers fighting on the front lines during World War I – providing a much-needed morale boost for our armed services. And speaking of a morale boost, the passage of the debt ceiling deal this week should remove a key source of uncertainty facing the markets. With the debt deal now out of the way, the market can move back to focusing on fundamentals, such as the jobs market, earnings, inflation, economic growth and the Federal Reserve (Fed). Here’s our latest thinking:
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