Market Moment
Glen Eagle®: America’s Women-Owned Trading Desk®
6/27/2022
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- 7 out of the last 12 bear markets have bottomed out in 46 days or less after dropping 20% or more.
- 303 stocks in the Russell 3000 are currently down more than 80% from their high. This is bad news considering that if a stock falls 80%, it has to make 400% to return to even.
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Bitcoin has fallen from $70,000 to $20,000 since last November. Even though the price of Bitcoin has fallen nearly 3.5x more than the S&P 500 did from its recent high, they are both at the same price that they were in late 2020.
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Housing prices are reaching new alarming highs, with the median home sale price in May rising 14.8%, to more than $400,000, a record even when adjusting prices for inflation. As a result, the median homeowner needed 41.2% of their income to cover mortgage payments on a median priced home.
A Wealth of Common Sense – "How Long Does it Take For Stocks to Bottom in a Bear Market?"
The Irrelevant Investor – "Blown Up"
Barrons – "Cryptocurrencies Are Down, But Don’t Count Them Out, Strategist Says"
WSJ – "What It Takes to Buy Your First Home Now"
Economic Calendar
Monday: Durable goods orders (May), Core capital goods orders (May), Pending home sales index (May)
Tuesday: Trade in goods (advance) (May), S&P Case-Shiller U.S. home price index (year-over-year) (Apr), Consumer confidence index (Jun)
Wednesday:
Gross domestic product revision (SAAR) (Q1),Final domestic demand revision (SAAR) (Q1),Gross domestic income revision (SAAR) (Q1)
Thursday: PCE inflation (monthly) (May), PCE inflation (year-over-year) (May), Real disposable income (May), Real consumer spending (May), Nominal personal income (May), Nominal consumer spending (May),Initial jobless claims (Jun), Chicago PMI (Jun)
Friday: S&P Global U.S. manufacturing PMI (final) (Jun), ISM manufacturing index (Jun), Construction spending (May)
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US Futures*
S&P 3,924.50 +0.21%
DOW 31,251.00 +0.11%
NASDAQ 12,175.25 +0.29%
World Markets*
FTSE 7,243.82
+0.49%
NIKKEI 26,871.27 +1.43%
HANG SENG 22,229.52
+2.35%
*values as of 8:00 AM EST 06/27/2022
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Treasuries*
2 YR 3.108%
10YR 3.207%
30 YR 3.333%
Cryptocurrencies*
BTC-USD
21,231.19 -0.85%
ETH.CM
1,215.98 -0.74%
^CMC200
4563.11 +2.03%
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Currencies*
Euro $1.0580
Pound $1.2271
Yen $135.3230
Commodities*
Gold 1,832.80
+0.14%
WTI Crude 107.46 -0.15%
Silver 21.38
+1.21%
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Upcoming Earnings Calls
Monday - CO, LMPX, TRIB, CIR, MPX
Tuesday - FIZZ, XAIR, SJR, SNX, HNI
Wednesday - DCT, BNED, VIAO, ASGN, FC
Thursday- AYI, WBA, WTER, SMPL, MU
Friday - None Scheduled
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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 EagleWealth, LLC
4422C Route 27
PO Box 399
Kingston, NJ 08528
(609) 631-8231
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