Please stay tuned for important disclosure information at the conclusion of this episode.

Hello and welcome to the Morning Filter.

I'm Susan Jivinsky with Morningstar.

Every Monday before market open, Morningstar chief U.S. market strategist Dave Sikara,

and I sit down to talk about what investors should have on their radars for the week,

some new Morning Star research, and a few stock ideas. Well, good morning, Dave. Due to last week's U.S. government shutdown, we didn't get a jobs report last Friday. And if the shutdown persists,

we won't be getting some other key pieces of economic data this month, including inflation

figures. So what impact of not having those

reports could there be on the Fed meeting at the end of this month? Hey, good morning, Susan.

You know, well, first of all, I don't know why, but for some reason, I'm feeling it today.

It's the Halloween mug. I know it's only October 6th, but for whatever reason, that was the mug I went with this morning.

Yeah, the government shut down, but we are still getting a lot of other alternative data out there.

So, for example, there's the PMI reports, PMI standing for purchasing managers index, and the ISM reports.

That's the Institute of Supply managers.

Now, both of these indexes also have subindices that do measure price increases.

And in fact, a lot of economists will use that as a leading indicator for CPI.

And both of those are reporting that prices are still edging up.

And then both do have sub indices for labor data as well. I know the ISM report showed

that the labor markets were still weakening as well. And of course, there's also the ADP,

the non-farm payroll report. I believe last week that showed the private payrolls fell by 33,000

in September. That's now the third decline over the past four months. So when you kind of

wrap up what's going on with the alternative data, that still points to the Fed should be cutting once

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