Market Moment
Glen Eagle®: America’s Women-Owned Trading Desk®
08/02/2021
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S&P Wellness check up: The S&P500, which is market cap-weighted, ended last week in negative territory thanks to the poor performance of the largest technology companies. However, this hides the fact that the overall market may still be healthy. 60% of all the companies in the S&P500 ended the week in positive territory. In Addition, 86.8% of all companies beat revenue forecasts in the latest quarter.
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Crackdown smackdown: With Beijing continuing to crack down on some of the largest technology companies, investors are starting to sell out of their positions. Alibaba, Tencent, Kuaishou, and Meituan alone have lost roughly 20% of their combined value this past month. The recent volatility highlights the risks of investing in a communist China that, despite its growing size, is still an emerging economy.
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Here we go? Since 1928 the three months of August, September, and October are the worst three-month span of the year with an average return of just 0.03%. Not surprisingly volatility (as defined by the CBOE VIX) tends to pick up during these three months.
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Homey is good! Unlike mall and office building real estate, multi-family real estate (ex: apartments) has had its largest sales volume in history this year at $92 billion. Most of the growth has been in regions that saw population-growth during the pandemic; namely, suburban and Sunbelt locations like Dallas, Atlanta, Phoenix, and Nashville.
Economic Calendar
Monday: Markit Manufacturing PMI (Jul), ISM Manufacturing index (Jul), Construction spending (Jun)
Tuesday: Factory orders (Jun), Core capital goods orders (Jun), Motor vehicle sales (Jul)
Wednesday: ADP Employment report (Jul), Markit services PMI (Jul), ISM services index (Jul)
Thursday: Trade Balance (Jun)
Friday: Non-farm payrolls (Jul), Unemployment rate (Jul), Average hourly earnings (July), Wholesale inventories (Jun), Consumer credit (Jun)
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US Futures
S&P 4417.00 +0.63%
DOW 35,020 +0.54%
NASDAQ 15,042.75 +0.58%
World Markets
FTSE 7107.14
+1.06%
NIKKEI 27,781 +1.82%
Hang Seng 26,235.80
+1.06%
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Treasuries
3 Mo 0.056%
10YR 1.23%
30 YR 1.906%
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Currencies
Euro $1.1895
Pound $1.39
Yen $109.639
Commodities
Gold 1810.40
-0.37%
WTI Crude 73.11 -1.14%
Silver 25.46
-0.34%
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Upcoming Earnings Calls
Monday - FANG,TTWO, SPG, ZI
Tuesday -UAA, CLX, COP, NKLA, DISC, WMG, LLY, KKR, MAR, RL, SWI, AKAM, Dun, CZR, PRU, OXY, ATVI, CAR, LYV, COUR, LYFT, MTCH, AMGN
Wednesday - CVS, ABC, MRO, APO, VMC, KHC, NYT, RCL, GM, BKNG, QRVO, ALL, MCK, MGM, ETSY, EA, IAC, LMND,ROKU, UBER, WDC, WYNN
Thursday - CI, W, REGN, VIAC, PLUG, DUK, DDOG, SEAS, MRNA, YETI, K, SQ, NVAX, TRIP, FEYE, NET, VMEO, SPCE, ZG, SHAK, DBX, BYND, EXPE, STMP
Friday - AMC, DISH, DKNG, D, NCLH, GT, CNK
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Client Focused Trading® for large institutions, pensions, hedge funds, wealthy families, and private equity for over 30 years.
Glen Eagle Wealth, LLC is a member FINRA and SIPC
This desk commentary is for informational purposes only
Ansie Monaghan
Carol Ann Fernandez
Glen EagleWealth, LLC
4422C Route 27
PO Box 399
Kingston, NJ 08528
(609) 631-8231
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