• December has historically been a strong month for markets. Since 1945, the S&P 500 has had a median December gain of 1.5% and has been positive 75% of the time. *1

• Holiday spending expectations have pulled back, with Americans planning to spend about $1,595 — roughly 10% less than last year. 1 

• Home prices are softening, as Zillow reports that 53% of U.S. homes lost value over the past year, the highest share since 2012 and a sharp jump from 14% a year ago. 1

• Walmart shares now trade near 40× forward earnings—making them more expensive than Microsoft and NVIDIA. Investors are responding to strong business growth, including e-commerce sales that have risen over 20% year-over-year in 10 of the past 11 quarters. *2

1. MFS - "Beyond the News"
2. WSJ - "Should Walmart Really Be Trading Like a Tech Company?"

*Past performance is not indicative of future performance

Economic Calendar

Monday:

None scheduled

Tuesday:

NFIB optimism index (Nov), Job openings — delayed report (Oct)

Wednesday:

Employment cost index — delayed report (Q3), FOMC interest-rate decision, Monthly U.S. federal budget (Nov), Fed Chair Powell press conference

Thursday:

Initial jobless claims (Dec 6), U.S. trade deficit (Sept)

Friday:

Philadelphia Fed President Anna Paulson speaks, Cleveland Fed President Beth Hammack speaks, Wholesale inventories (Sept), Chicago Fed President Austan Goolsbee speaks

Upcoming Earnings Calls

Monday - TOL, LU, PHR, YEXT, CMP

Tuesday - BHP, AZO, FERG, KEP, CASY

Wednesday - ORCL, ADBE, SNPS, JBS, CHWY

Thursday - AVGO, COST, CIEN, AXIA, LULU

Friday - VZLA, MSB, JOUT, VALU, USBC

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