• Holiday travel is likely to be more expensive this year. Airfares rose 1.2% in September and 22.4% year over year as airlines passed along higher fuel costs, adding pressure to holiday travel budgets. 1

• Social Security benefits will increase by 3.6% for the 55 million retired recipients in 2027. This will add about $75 per month to the average retiree's income. 2

• Mortgage rates reached 7.4%, creating a market where home sellers outnumber buyers by nearly 600,000 nationally. This is the largest gap on record dating to 2013. 3

• The 5 largest companies in the S&P 500 are so large today that they are worth the same as the bottom 434 stocks in the index combined. *4

1. Barron’s – “Airfares Just Keep on Rising. It Isn’t a Great Sign for Holiday Travel.”
2. WSJ – “Inflation Jump Will Push Social Security Benefits Up 3.6%”
3. WSJ – “Stubborn Sellers Are the Last Thing Propping Up Home Prices”
4. A Wealth of Common Sense – “Hedging the AI Trade”

*Past performance is not indicative of future performance

Economic Calendar

Monday:

NAHB Housing Market Index (Oct)

Tuesday:

Housing Starts (Sep), Pending Home Sales (Sep)

Wednesday:

No events scheduled

Thursday:

Weekly Jobless Claims (Oct 17), Leading Indicators (Sep), Kansas City Fed Survey (Oct)

Friday:

US Flash Manufacturing PMI (Oct), US Flash Services PMI (Oct), U Michigan Final Consumer Survey (Oct)

Upcoming Earnings Calls

Monday - FITB, STLD, WRB, CCK, SMMT

Tuesday - GE, NFLX, RTX, ISRG, CB

Wednesday - META, TSLA, LRCX, PM, SAP

Thursday - PG, UNP, WDC, VLO, LMT

Friday - AXP, E, SLB, INFY, RCI

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