The Magnificent Seven outperformed the S&P 500 by 22% over 2023 and 2024, driving nearly half of the market’s gains. But through early July this year, Apple, Tesla, and Google are lagging the index by double digits. *1
Women have narrowed the retirement savings gap: Gen Z women's balances are 98% of men’s, compared to just 63% for baby boomers. Factors such as higher 401(k) participation (54% of Gen Z women vs. 44% of men) and shifting investment attitudes are contributing to this trend. 2
In the first half of 2025, JPMorgan earned $30B of profit — more than double its nearest competitor. As a result, JPMorgan’s stock is now worth more than the combined market value of Bank of America, Citigroup, and Wells Fargo. *3
The 2020s are experiencing the worst real (inflation-adjusted) returns for U.S. government bonds across all maturities on record, with 5-year, 10-year, and 20-year treasuries showing real returns of -3.5%, -5.1%, and -8.3% respectively. *4
Advisorpedia - "The Magnificent Seven Are No Longer So Magnificent
Barrons- Women Live Longer Than Men. The Great (Horizontal) Wealth Transfer Is Coming."
Bloomberg - "JPMorgan Is Now Worth More Than Three Largest Rivals Combined"
A Wealth of Common Sense - "Is This the Worst Decade Ever For Bonds?"
*Past performance is not indicative of future performance
Economic Calendar
Monday:
U.S. leading economic indicators
Tuesday:
Fed Chair Powell opening remarks at banking conference
Wednesday:
Existing home sales (Jun)
Thursday:
Initial jobless claims (Jul), S&P flash U.S. services PMI (Jul), S&P flash U.S. manufacturing PMI (Jul), New home sales (Jun)
Friday:
Durable-goods orders (Jun), Durable-goods minus transportation (Jun)
US Markets*
S&P 6,321.24+0.39%
DOW 44,393.36 +0.12%
NASDAQ 21,036.06
+0.67%
World Markets*
FTSE 8,991.01
-0.21%
NIKKEI 39,819.11
-0.21%
HANG SENG 24,994.14 +0.68%
*values as of 9:50am EST 7/21/2025
Treasuries*
2 YR3.854%
10YR 4.374%
30 YR 4.937%
Cryptocurrencies*
BTC-USD
118,773.48
+0.51%
ETH.CM
3,813.75
+1.81%
Currencies*
Euro $1.1665
Pound $0.7421
Yen $147.5990
Commodities*
Gold 3,396.20
+1.13%
WTI Crude 65.69
-0.55%
Silver 39.17
+1.82%
Upcoming Earnings Calls
Monday - VZ, ROP, NXPI, RYAAY, WRB
Tuesday - SAP, KO, PM, RTX, TXN
Wednesday - GOOG, GOOGL, TSLA, IBM, TMUS
Thursday-HON, TTE, UNP, BX, INTC
Friday - IBN, HCA, AON, E, NWG
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
