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Market Moment
Glen Eagle®: America’s Women-Owned Trading Desk®
3/25/2024
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A new report found that 47% of parents with a child older than 18 provide them with some form of financial support, averaging roughly $1,384 a month. 58% of parents said supporting their adult children was a sacrifice to their own financial security. 1
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California’s share of US wine production has dropped from 90% in the 1990s to below 80% today. Harsher weather and higher labor costs are two culprits. The average weekly wage at California wineries is $1,372 compared to just $656 at non-California wineries. 2
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The S&P 500 surged 8.3% over the first 50 trading days of the year, marking the 14th instance since 1953 of a 7.5% rally to start the year. Historically, in such years, the median rest-of-year gain for the index was 7.7%, with positive returns 92% of the time. *3
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50.8% of NVDA revenue comes from just 6 companies: Microsoft, Meta, Amazon, Alphabet, Dell, and Super Micro Computers, 4 of which are in the top 10 stocks in the S&P 500. 4
- Bespoke - “Stat of the Day”
- Bloomberg – "Who Will Save the US Wine Industry? Not California Boomers”
- MFS - “Beyond the News”
- Bloomberg - "Barclays Research"
*Past performance is not indicative of future performance
Economic Calendar
Monday:
Atlanta Fed President Raphael Bostic speaks, Chicago Fed President Austan Goolsbee speaks, New home sales (Feb), Fed Gov. Lisa Cook speaks
Tuesday:
Durable-goods orders (Feb), Durable-goods minus transportation (Feb), S&P Case-Shiller home price index (20 cities) (Jan), Consumer confidence (Mar)
Wednesday:
Fed Gov. Christopher Waller speaks
Thursday:
Initial jobless claims (Mar), GDP (2nd revision) (Q4), Chicago Business Barometer (PMI) (Mar), Pending home sales (Feb), Consumer sentiment (final) (Mar)
Friday:
Advanced U.S. trade balance in goods (Feb), Advanced retail inventories (Feb), Advanced wholesale inventories (Feb), Personal income (nominal) (Feb), Personal spending (nominal) (Feb), PCE index (Feb), Core PCE index (Feb), PCE (year-over-year), Core PCE (year-over-year), Fed Chair Jerome Powell speaks
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US Futures*
S&P 5,222.88 -0.22%
DOW 39,371.75 -0.26%
NASDAQ 16,374.64
-0.33%
World Markets*
FTSE 7,913.60
-0.22%
NIKKEI 40,414.12
-1.16%
HANG SENG 16,473.64 -0.16%
*values as of 10am EST 3/25/2024
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Treasuries*
2 YR 4.628%
10YR 4.241%
30 YR 4.412%
Cryptocurrencies*
BTC-USD
68,398.34
+4.52%
ETH.CM
3,508.85
+3.73%
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Currencies*
Euro $1.0835
Pound $1.2647
Yen $151.2890
Commodities*
Gold 2,177.90
+0.82%
WTI Crude 81.56
+1.15%
Silver 24.93
+0.37%
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Upcoming Earnings Calls
Monday - SHG, DADA, HEPS, TMC, CDMO
Tuesday - MKC, SNX, ESLT, GME, OLK
Wednesday - CTAS, PAYX, CCL, CUK, AEG
Thursday- WBA, MSM, OXM, SMTC, AZUL
Friday - SKM, NEXT, BDTR, ASTS, GRVY
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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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