The rate of inflation is now declining rapidly. In June the consumer price index only rose by 3%, representing the smallest increase since March 2021. Over the past 12 months, inflation has dropped by 6.1 percentage points, marking the largest decline since 2009.1
14% of women in the US ages 25-54 don't work because they are full-time caregivers, a percentage that has been unchanged since 2003. In contrast, only 1.5% of men in the same age group are full-time caregivers, but this number has doubled since 2003. 2
After a 20% decline in the first half of 2022, the S&P 500 rebounded with a gain of 15% in the first half of 2023. The technology sector accounted for more than 60% of the index's overall performance, with Apple alone contributing 18%. 2
Usage of Home equity lines of credit (HELOC) rose by 34% in 2022 (the highest level since 2008). “Tappable equity” (the amount available to borrow against while keeping 20% equity) has grown to $9.3 trillion, a 56% increase over the span of three years. 3
Barrons - "Inflation Rarely Falls This Fast. That’s Good News for the Stock Market."
MFS - "Beyond the News"
Bloomberg - "US Homeowners Are Tapping $9 Trillion in Real Estate Wealth"
*Past performance is not indicative of future performance
Economic Calendar
Monday:
Empire State manufacturing survey (Jul)
Tuesday:
U.S. retail sales (Jun), Retail sales minus autos (Jun), Industrial production (Jun), Capacity utilization (Jun), Business inventories (May), Home builder confidence index (Jul)
Wednesday:
Housing starts (Jun)
Thursday:
Initial jobless claims (Jul), Philadelphia Fed manufacturing survey (Jun), Existing home sales (Jun), U.S. leading economic indicators (Jun)
Friday:
None scheduled
US Futures*
S&P 4,531.50-0.12%
DOW 34,596.00
-0.24%
NASDAQ 15,700.50
+0.04%
World Markets*
FTSE 7,411.75
-0.31%
NIKKEI 32,391.26
-0.09%
HANG SENG 19,413.78
+0.33%
*values as of 9:30 AM EST 7/17/2023
Treasuries*
2 YR4.747%
10YR 3.824%
30 YR 3.938%
Cryptocurrencies*
BTC-USD
30,233.45-0.22%
ETH.CM
1,913.16 -0.91%
^CMC200
654.40+0.03%
Currencies*
Euro $1.1213
Pound $1.3059
Yen $139.3420
Commodities*
Gold 1,951.90
-0.64%
WTI Crude 74.57
-1.13%
Silver 24.97
-0.91%
Upcoming Earnings Calls
Monday - ELS, FBK, CFB, GNTY, HBCP
Tuesday - BAC, NVS, MS, PLD, LMT
Wednesday - TSLA, ASML, NFLX, IBM, GS
Thursday- TSM, JNJ, ABT, SAP, PM
Friday - AXP, HDB, SLB, ROP, RF
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
