Market Moment

Glen Eagle®: America’s Women-Owned Trading Desk®  

10/28/2024

  • John D. Rockefeller’s 1913 net worth of $900 million would be $29 billion today, not enough for the top 50 on the Bloomberg Billionaires Index. However, as a share of US GDP, it would be over $600 billion, more than Elon Musk and Jeff Bezos combined. 1
  • Housing costs have risen 50% faster than the CPI in the past decade due to a housing shortage. A 20% down payment on a median home now requires 83% of a typical buyer’s annual income, up from 65% eight years ago. 1
  • NVIDIA’s market cap is now larger than the total of five G7 countries (Canada, UK, France, Germany, and Italy). 2
  • A review of the earnings calls of 7,000 publicly traded companies shows that mentions of Artificial Intelligence (AI) increased six-fold after ChatGPT’s release, from 0.35 sentences per call in Q4 2022 to 2.17 in Q3 2023. 3


  1. Barrons - "How to Think About the Price of Food"
  2. Apollo - "It Is All About NVIDIA"
  3. MFS - "Beyond the News"

*Past performance is not indicative of future performance


Economic Calendar

 

Monday:

None scheduled


Tuesday:

S&P Case-Shiller home price index (20 cities) (Aug), Consumer confidence (Oct), Job openings (Sep)


Wednesday:

ADP employment (Oct), GDP (Q3), Advanced U.S. trade balance in goods (Sep), Advanced retail inventories (Sep), Advanced wholesale inventories (Sep), Pending home sales (Sep)


Thursday:

Personal income (Sep), Personal spending (Sep), PCE index (Sep), PCE (year-over-year), Core PCE index (Sep), Core PCE (year-over-year), Initial jobless claims (Oct), U.S. employment cost index (Q3), Chicago PMI (Oct)


Friday:

U.S. employment report (Oct), U.S. unemployment rate (Oct), U.S. hourly wages (Oct), Hourly wages year over year, S&P final U.S. manufacturing PMI (Oct), Construction spending (Sep), ISM manufacturing (Oct), Auto sales (Oct)

US Markets*

S&P 5,837.45 +0.50%

DOW 42,370.00 +0.61%

NASDAQ 18,644.33

+0.68%


World Markets*

FTSE 8,260.98

+0.15%

NIKKEI 38,605.53

+1.82%

HANG SENG 20,599.36 +0.04%


*values as of 10am EST 10/28/2024

Treasuries*

2 YR 4.123%

10YR 4.258%

30 YR 4.518%


 

Cryptocurrencies*

BTC-USD

68,996.17

+1.98%

ETH.CM

2,521.79

+1.32%





Currencies*

Euro $1.0819

Pound $1.2896

Yen $152.8990

 


Commodities*

Gold 2,753.10

-0.05%

WTI Crude 67.85

-5.47%

Silver 33.94

+0.49%


Upcoming Earnings Calls

 

Monday - FMX, WM, WELL, CDNS, F

Tuesday - GOOGL, V, AMD, NVS, MCD

Wednesday - MSFT, META, LLY, ABBV, CAT

Thursday- AAPL, AMZN, MA, MRK, LIN

Friday - BRK.B, XOM, CVX, ENB, ARES

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


Glen Eagle Wealth | www.gleneagleadv.com