Wage growth continues to cool, with average hourly earnings rising 3.5% year over year in November, the slowest pace since 2021 and well below the near 6% peak reached in early 2022. 1
57% of Americans rely on financial support from family or friends. Among parents with adult children, 40% provide ongoing support—among them, 53% are drawing on retirement savings, and 49% live with their adult children. 2
Defense stocks have significantly outperformed this year, with the S&P 1500 Aerospace & Defense group on track for a 41% gain, more than double the S&P 500’s advance and well ahead of the Magnificent Seven. *3
Silver is having a standout year, up about 110% in 2025, ranking as its second-best year since at least 1976. *4
Barrons - "Wage Growth Is Slowing as the Labor Market Cools. What It Means for Job Mobility."
The Currency - "Making it: How Americans feel about Financial Independence"
Bloomberg - "Shift in Modern Warfare Turns Defense Firms into Growth Stocks"
MFS - "Beyond the News"
*Past performance is not indicative of future performance
