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Market Moment
Glen Eagle®: America’s Women-Owned Trading Desk®
1/6/2025
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In 2024, the "Magnificent Seven" (Apple, Nvidia, Microsoft, Google, Amazon, Tesla, and Meta) grew by 65% and was responsible for 57% of the S&P 500's gain. This was a decrease from 2023 when they soared 111% and made up 65% of the S&P's gain. *1
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Breakfast meals have become more expensive lately. One culprit is the price of eggs. The price per dozen eggs is now $5.77, up 146.6% from 2023. A recent outbreak of Avian flu reduced the laying hen population by 3% (or 10 million hens). 2
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Despite a 6.1% stock drop last week, Tesla is now worth $1.2 trillion, more than the next 20 largest automakers combined! Tesla's shares trade at 117 times projected earnings, significantly higher than Nvidia and other tech giants. *3
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17.6% (or 3.7 million BTC) of the entire supply of Bitcoin is estimated to be lost. This is a significant portion of Bitcoin, which is likely inaccessible due to lost keys or forgotten wallets. 4
- Barrons - "Tech Stocks Top the Indexes Again, With One Mag 7 Caveat"
- WSJ- "Why Breakfast Is Busting Your Food Budget"
- WSJ - "Tesla’s Car Business Isn’t Really in the Driver’s Seat"
- The Irrelevant Investor - "The Compound and Friends: Why Brian Wesbury is Bearish"
*Past performance is not indicative of future performance
Economic Calendar
Monday:
S&P final U.S. services PMI (Dec), Factory orders (Nov)
Tuesday:
Richmond Fed President Tom Barkin speaks, U.S. trade deficit (Nov), ISM services (Dec), Job openings (Nov)
Wednesday:
ADP employment (Dec), Minutes of Fed's December FOMC meeting, Consumer credit (Dec)
Thursday:
Initial jobless claims (Jan), Wholesale inventories (Nov)
Friday:
Consumer sentiment (prelim) (Jan), U.S. employment report (Dec), U.S. unemployment rate (Dec), U.S. hourly wages (Dec), Hourly wages year over year
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US Markets*
S&P 5,988.09 +0.77%
DOW 42,890.10 +0.37%
NASDAQ 19,878.54
+1.31%
World Markets*
FTSE 8,209.64
-0.17%
NIKKEI 39,307.05
-1.47%
HANG SENG 19,688.29 -0.36%
*values as of 9:40am EST 1/6/2025
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Treasuries*
2 YR 4.287%
10YR 4.628%
30 YR 4.840%
Cryptocurrencies*
BTC-USD
99,077.94
+1.57%
ETH.CM
3,634.58
+0.67%
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Currencies*
Euro $1.0380
Pound $0.8066
Yen $157.2180
Commodities*
Gold 2,629.30
-0.96%
WTI Crude 74.41
+0.61%
Silver 30.36
+0.96%
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Upcoming Earnings Calls
Monday - TGIFF, ALPP, AXIL, BMMJ, ARGC
Tuesday - RPM, CALM, AZZ, AIR, APOG
Wednesday - JEF, ACI, AYI, MSM, SMPL
Thursday- INFY, KBH, PSMT, ETWO, BBCP
Friday - BAC, WFC, STZ, DAL, WIT
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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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