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Market Moment

Glen Eagle®: America’s Women-Owned Trading Desk®  

11/4/2024

  • US gas prices have dropped 13% in the last six months, but the current average of $3.15 per gallon is the highest before any presidential election since 2012. 1
  • With fertility rates at historic lows, raising two children and sending them to college now costs $832,000. Affordability is a major reason 36% of Americans under 50 don’t have children. College tuition has increased 748% since 1963. 2
  • The Social Security Administration announced a 2.5% cost-of-living increase in social security benefits for 2025, the smallest increase in four years. The average monthly retiree benefit is now $1,976, up $49 from 2024. 1
  • Gold prices hit $2,750 on Friday, up 33% this year, marking its best annual gain since 1979. This significantly outperformed the S&P 500’s 22% return. *3


  1. MFS - "Beyond the News"
  2. Visual Capitalist - "Visualizing the Cost of the American Dream in 2024"
  3. Barrons - "Gold Mining Stocks Are a Bargain. Here’s How to Buy In."

*Past performance is not indicative of future performance


Economic Calendar

 

Monday:

Factory orders (Sep)


Tuesday:

U.S. trade deficit (Sep), ISM services (Oct)


Wednesday:

S&P final U.S. services PMI (Oct)


Thursday:

Initial jobless claims (Nov), U.S. productivity (prelim) (Q3), Wholesale inventories (Sep), FOMC interest-rate decision, Fed Chair Powell press conference, Consumer credit (Sep)


Friday:

Consumer sentiment (prelim) (Nov), Fed Governor Michelle Bowman speaks about banking regulation, St. Louis Fed President Alberto Musalem welcoming remarks

US Markets*

S&P 5,729.23 +0.01%

DOW 41,959.57 -0.22%

NASDAQ 18,215.14

-0.14%


World Markets*

FTSE 8,214.52

+0.46%

NIKKEI 38,053.67

-2.63%

HANG SENG 20,567.52 +0.30%


*values as of 10am EST 11/4/2024

Treasuries*

2 YR 4.141%

10YR 4.277%

30 YR 4.476%


 

Cryptocurrencies*

BTC-USD

68,253.22

+0.79%

ETH.CM

2,448.20

-0.47%





Currencies*

Euro $1.0901

Pound $1.2975

Yen $151.8290

 


Commodities*

Gold 2,752.50

+0.12%

WTI Crude 71.44

+2.80%

Silver 32.83

+0.47%


Upcoming Earnings Calls

 

Monday - VRTX, PLTR, CEG, ZTS, MAR

Tuesday - RACE, APO, TRI, EMR, MPC

Wednesday - NVO, TM, QCOM, ARM, GILD

Thursday- ANET, DUK, PBR, ABNB, MSI

Friday - IX, TU, BAX, NRG, RBA

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



Carol Ann Fernandez

Rob Michel

Grier Vacek


Glen Eagle Wealth, LLC

4422C Route 27

PO Box 399

Kingston, NJ 08528

(609) 631-8231


Glen Eagle Wealth | www.gleneagleadv.com