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Market Moment

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

12/16/2024

  • Entering December, the S&P 500 was up over 20% in this presidential election year. Historically, this happened in four other election years (1928, 1936, 1980, 1996), and in three of those (1936, 1980, 1996), the index fell in December, averaging a 2% decline. *1
  • By 2030, 20% of the U.S. population will be 65+ (up from just 12% in 1985). This is impactful because healthcare spending for this group is 3x higher than for those under 65. This is one reason why the U.S. spends around 18% of GDP on healthcare alone. 2
  • Rental costs rose 4.4% in the 12 months through November, nearly double the inflation rate, and have climbed 26% since January 2020. This is one reason why, in 2022, homeowners had nearly 40 times the net worth of renters. 3
  • Since 2009, non-U.S. stock (MSCI index) has outperformed the S&P 500 only twice. This year, while the S&P 500 surged 26%, the MSCI index rose just 3%. If that trend holds, it would mark the largest performance gap in nearly 30 years. 4


  1. MFS- "Beyond the News"
  2. A Wealth of Common Sense - "Animal Spirits: The Bears Capitulate"
  3. Barrons - "Home Prices Aren’t the Only Thing Stopping Millennials From Buying Real Estate. What’s Really Worrying Them.'"
  4. WSJ- "A Quarter of Your Retirement Fund Just Isn’t Keeping Up"


*Past performance is not indicative of future performance


Economic Calendar

 

Monday:

Empire State manufacturing survey (Dec), S&P flash U.S. services PMI (Dec), S&P flash U.S. manufacturing PMI (Dec)


Tuesday:

U.S. retail sales (Nov), Retail sales minus autos (Nov), Industrial production (Nov), Capacity utilization (Nov), Home builder confidence index (Dec)


Wednesday:

Housing starts (Nov), Building permits (Nov), FOMC interest-rate decision, Fed Chair Powell press conference


Thursday:

Initial jobless claims (Dec), GDP (second revision) (Q3), Philadelphia Fed manufacturing survey (Dec), Existing home sales (Nov), U.S. leading economic indicators (Nov)


Friday:

Personal income (nominal) (Nov), Personal spending (nominal) (Nov), PCE index (Nov), PCE (year-over-year), Core PCE index (Nov), Core PCE (year-over-year), Consumer sentiment (final) (Dec)

US Markets*

S&P 6,073.50 +0.30%

DOW 43,943.00 +0.18%

NASDAQ 21,894.50

+0.45%


World Markets*

FTSE 8,268.14

-0.39%

NIKKEI 39,457.49

-0.03%

HANG SENG 19,745.49 -0.88%


*values as of 9:30am EST 12/16/2024

Treasuries*

2 YR 4.226%

10YR 4.377%

30 YR 4.595%


 

Cryptocurrencies*

BTC-USD

104,479.69

+1.70%

ETH.CM

3,917.74

+0.73%





Currencies*

Euro $1.0492

Pound $0.7903

Yen $154.1490

 


Commodities*

Gold 2,679.40

+0.13%

WTI Crude 70.90

-0.55%

Silver 31.13

+0.31%


Upcoming Earnings Calls

 

Monday - BHP, AVAL, EBF, CMP, RCAT

Tuesday - HEI, AMTM, SID, WOR, SJT

Wednesday - MU, LEN, GIS, JBL, BIRK

Thursday- ACN, NKE, CTAS, FDX, PAYX

Friday - CCL, CUK, NBIS, WGO, SHCO

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