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Market Moment
Glen Eagle®: America’s Women-Owned Trading Desk®
9/3/2024
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Parents spent 24% of their income on childcare last year, up from 7% in the 1980s. In most of the U.S., childcare now costs more annually than in-state tuition at public universities. 1
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Since 1980, the cost of a four-year college has jumped nearly 170%, while inflation-adjusted median earnings for bachelor’s degree holders rose just 25%. In 1996, only 31% of parents saw funding a child’s education as their responsibility, but last year, 77% used their income and savings for college costs. 1
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Global spending on AI and AI-enabled tech is expected to exceed $630 billion by 2028, with a 29% annual growth rate. Top growth areas include augmented claims processing (35.8% growth) and digital commerce (33.2% growth). 2
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The S&P 500 has hit 38 record highs this year. Despite the pullback in August, stocks are nearing highs again, sparking concerns of a potential correction, as a 10% or greater drop has happened at least once a year since the 1930s. *3
- Barrons - "The Price of Parenthood Is Growing Prohibitive. That’s Bad News for the Economy."
- MFS - "Beyond the News"
- WSJ- "Markets' Summer Vacation Is Over"
*Past performance is not indicative of future performance
Economic Calendar
Monday:
Labor Day holiday, none scheduled
Tuesday:
S&P final U.S. manufacturing PMI (Aug), Construction spending (Jul), ISM manufacturing (Aug)
Wednesday:
U.S. trade deficit (Jul), Job openings (Jul), Factory orders (Jul), Fed Beige Book, Auto sales (Aug)
Thursday:
ADP employment (Jul), Initial jobless claims (Aug), U.S. productivity (revision) (Q2), U.S. unit-labor costs (revision) (Q2), S&P final U.S. services PMI (Aug), ISM services (Aug)
Friday:
U.S. employment report (Aug), U.S. unemployment rate (Aug), U.S. hourly wages (Aug), Hourly wages year over year, New York Fed President Williams speaks, Fed Gov. Christopher Waller speaks
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US Futures*
S&P 5,578.67 -1.23%
DOW 41,116.21 -1.08%
NASDAQ 17,418.12
-1.67%
World Markets*
FTSE 8,289.91
-0.89%
NIKKEI 38,686.31
-0.04%
HANG SENG 17,561.49 -0.23%
*values as of 10:20am EST 9/3/2024
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Treasuries*
2 YR 3.865%
10YR 3.840%
30 YR 4.130%
Cryptocurrencies*
BTC-USD
57,966.58
-0.50%
ETH.CM
2,463.03
-2.39%
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Currencies*
Euro $1.1039
Pound $1.3093
Yen $145.4690
Commodities*
Gold 2,516.00
-0.46%
WTI Crude 70.73
-3.83%
Silver 28.28
-2.94%
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Upcoming Earnings Calls
Monday - Labor Day holiday
Tuesday - ZS, ASND, GTLB, OS, HQY
Wednesday - CPRT, HPE, DKS, DLTR, HRL
Thursday- AVGO, IOT, GWRE, DOCU, TTC
Friday - VFS, ABM, BRC, GCO, BTCM
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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
Carol Ann Fernandez
Rob Michel
Grier Vacek
Glen Eagle Wealth, LLC
4422C Route 27
PO Box 399
Kingston, NJ 08528
(609) 631-8231
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