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Despite gold’s recent increase, it has struggled over longer time frames. From 1928 to 2024, $1 in gold grew to under $13,000, while the same $1 in the S&P 500 (with dividends) grew to nearly $1 million. *1
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U.S. families spend over $40B a year on kids’ sports, up 46% since 2019. Parents with active kids spend about $1,500 yearly (including $250 on gear). 11% think their child could go pro; 22% expect college-level play. 2
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The 10 largest companies in the S&P 500 have dominated the stock market’s recent performance—accounting for over 68% of returns in 2023–2024 and 57% year-to-date through September 30. *3
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The top 1% of U.S. households now hold nearly as much wealth as the bottom 90%—their share has risen from 23% to 31%, while the bottom 90% has fallen from 40% to 33% since 1990. 3
- WSJ - "Markets A.M.: Why Gold Will Lose Its Luster"
- Weekend - "Inside the Empire That Sports Parents Built"
- A Wealth of Common Sense - "Animal Spirits: It Feels Like 1999"
*Past performance is not indicative of future performance
Economic Calendar
Monday:
Philadelphia Fed President Anna Paulson speaks
Tuesday:
NFIB optimism index (Sep), Fed governor Michelle Bowman speaks, Fed Chair Jerome Powell speaks, Fed governor Christopher Waller speaks, Boston Fed President Susan Collins speaks
Wednesday:
Empire State manufacturing survey (Oct), Atlanta Fed President Raphael Bostic speaks, Fed governor Stephen Miran speaks, Fed governor Christopher Waller speaks, Fed Beige Book
Thursday:
Richmond Fed President Tom Barkin speaks, U.S. retail sales (Sep), Retail sales minus autos (Sep), Producer price index (Sep), Core PPI (Sep), PPI year over year,Core PPI year over year, Initial jobless claims (Oct), Philadelphia Fed manufacturing survey (Oct), Fed governor Stephen Miran speaks, Fed governor Christopher Waller speaks, Business inventories (Aug), Home builder confidence index (Oct), Fed governor Michelle Bowman speaks, Richmond Fed President Tom Barkin speaks, Fed governor Stephen Miran speaks, Richmond Fed President Tom Barkin speaks
Friday:
Housing starts (Sep), Building permits (Sep), Import price index (Sep), Import price index minus fuel (Sep), Industrial production (Sep), Capacity utilization (Sep)
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