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Market Moment

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

10/21/2024

  • To be in the top 1% of US earners today, you need an average annual income of $788,000. Washington, DC, has the highest threshold at $1.21 million, while West Virginia has the lowest at $420,000. 1
  • Last Saturday, the S&P 500 marked the 2nd anniversary of the bull market's start. Through 10/9/24, the S&P 500 has gained 62% during this bull market. Since 1928, the 11 bull markets that lasted at least two years had a median S&P 500 gain of 126% over five years. *1
  • On October 10th, the tech sector’s share of the S&P 500 reached 32%. Its average share since 1990 is just under 18%, but it has averaged 27.5% over the last five years. The financial sector is the second largest sector in the index at 13%. 1
  • Holiday spending in 2024 is expected to grow by 2.5% to 3.5% from last year, reaching between $979.5 billion and $989 billion. This is up from $955.6 billion in 2023. Holiday sales growth has not fallen below 3.5% since 2018, when it rose by only 1.8% in 2017. 2


  1. MFS - "Beyond the News"
  2. Barrons - "Forecasting Holiday Shopping, 2024: Good, Not Great"

*Past performance is not indicative of future performance


Economic Calendar

 

Monday:

Dallas Fed President Lorie Logan speaks, U.S. leading economic indicators (Sep), Kansas City Fed President Jeff Schmid speaks, San Francisco Fed President Mary Daly speaks


Tuesday:

Philadelphia Fed President Patrick Harker speaks


Wednesday:

Fed Governor Michelle Bowman speaks, Existing home sales (Sep), Fed Beige Book


Thursday:

Initial jobless claims (Oct), Cleveland Fed President Beth Hammack opening remarks, S&P flash U.S. services PMI (Oct), S&P flash U.S. manufacturing PMI (Oct), New home sales (Sep)


Friday:

Durable-goods orders (Sep), Durable-goods minus transportation (Sep), Consumer sentiment (final) (Oct)

US Markets*

S&P 5,849.39 -0.09%

DOW 43,190.54 -0.20%

NASDAQ 18,490.82

+0.01%


World Markets*

FTSE 8,357.45

-0.01%

NIKKEI 38,954.60

-0.07%

HANG SENG 20,478.46 -1.57%


*values as of 9:50am EST 10/21/2024

Treasuries*

2 YR 3.981%

10YR 4.134%

30 YR 4.447%


 

Cryptocurrencies*

BTC-USD

67,442.98

-1.38%

ETH.CM

2,672.59

-0.88%





Currencies*

Euro $1.0851

Pound $1.3028

Yen $149.9820

 


Commodities*

Gold 2,753.00

+0.84%

WTI Crude 70.58

+1.96%

Silver 34.41

+3.53%


Upcoming Earnings Calls

 

Monday - SAP, HDB, NUE, WRB, ARE

Tuesday - GE, DHR, PM, VZ, TXN

Wednesday - TSLA, KO, TMUS, TMO, IBM

Thursday- AMZN, SPGI, UNP, HON, UPS

Friday - SNY, HCA, CL, AON, E

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