A survey revealed that 59% of Americans believe money can buy happiness, with the average price for happiness being $1.2 million. Gen Z individuals suggest they would be content with $488,000, while Millennials feel they need $1.7 million. 1
2024 will be year four of the four-year Presidential Election Cycle under President Biden. Since 1928, year four has been the second-best year of the four-year cycle for the S&P 500 with a median gain of 9.5% and positive returns 73.9% of the time. *1
A recent survey found that nearly half of individuals aged 18 to 29 live with their families, the highest percentage since the 1940s. Additionally, one in five parents say they have sacrificed their retirement savings to help their children financially. 2
Historical data shows that big gains in November and December often lead to a bullish next year. In years with November and December returns ranging from 10-14%, the subsequent year had an average gain of 19.5%. *3
MFS- "Beyond the News"
Barrons- "Parents Are Spending Retirement Savings to Help Boomerang Children"
Irrelevant Investor - "A Big Final Two Months Of The Year Is Quite Bullish For Next Year "
*Past performance is not indicative of future performance
Economic Calendar
Monday:
Consumer credit (Nov)
Tuesday:
Trade deficit (Nov)
Wednesday:
Wholesale inventories (Nov), New York Fed President John Williams speaks
