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A survey of 554 affluent parents (avg. $750K in assets) found 76% fund big purchases, 63% cover ongoing bills, and 98% let adult children live at home. While 65% feel confident about retirement, 36% worry supporting kids could derail it. 1
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Q4 is historically the strongest quarter for the stock market. Since 1928, the S&P 500 has averaged +2.9% in Q4, with gains 74% of the time, compared with ~60% for other quarters. *2
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As of July, 29% of federal student loan borrowers (5.4M people) were 90+ days past due—the fifth straight month over 5M, pushing many closer to default (270+ days). 2
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Across 22 government shutdowns since 1976, the S&P 500 has averaged a gain of +0.3% during closures. More importantly, it gained an average of 13% in the 12 months after. *3
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Barrons - "The Wealthy Are Paying Their Adult Kids’ Bills. Some of Them Are Starting to Worry."
- MFS - "Beyond the News"
- CBS News - "Investors are unfazed about the government shutdown. Here's how stocks have fared during previous closures."
*Past performance is not indicative of future performance
Economic Calendar
Monday:
Kansas City Fed President Jeff Schmid speaks
Tuesday:
U.S. trade deficit (Aug), Atlanta Fed President Raphael Bostic speaks, Federal Reserve Vice Chair for Supervision Michelle Bowman welcoming remarks, Federal Reserve governor Stephen Miran speaks, Minneapolis Fed President Neel Kashkari speaks, Consumer credit (Aug), Federal Reserve governor Stephen Miran speaks
Wednesday:
St. Louis Fed President Alberto Musalem opening remarks, Federal Reserve governor Michael Barr speaks, Minutes of Fed's September FOMC meeting, Minneapolis Fed President Neel Kashkari speaks, Federal Reserve governor Michael Barr speaks, Chicago Fed President Austan Goolsbee speaks
Thursday:
Federal Reserve Chair Jerome Powell opening remarks, Initial jobless claims (Oct), Federal Reserve Vice Chair for Supervision Michelle Bowman welcoming remarks, Federal Reserve Vice Chair for Supervision Michelle Bowman speaks, Wholesale inventories (Aug), Minneapolis Fed President Neel Kashkari and Fed governor Michael Barr discussion, Federal Reserve Vice Chair for Supervision Michelle Bowman speaks, San Francisco Fed President Mary Daly speaks, San Francisco Fed President Mary Daly speaks
Friday:
Chicago Fed President Austan Goolsbee opening remarks, Consumer sentiment (prelim) (Oct), Monthly U.S. federal budget (Sep)
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