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Market Moment
Glen Eagle®: America’s Women-Owned Trading Desk®
2/20/2024
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Housing affordability issues have led homebuilders to reduce new build sizes. Over the last ten years, the median square footage of new homes has fallen 12% from 2,313 sf in 2013 to 2,036 sf in 2023. 1
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About 4.1 million Americans will reach 65 years old this year, that is about 11,200 a day. In 2023, nearly 20% of Americans aged 65 and older were employed, nearly double the rate from 35 years ago. 2
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The average price of a stock in the S&P 500 now stands at $204.28, with 73% priced over $100 and 9 stocks priced over $1,000. That is a dramatic increase from the average 1983 price of just $39.06! *3
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In 2024 more than 75 countries, with nearly 60% of the world’s population, will head to the polls for critical elections. Financial markets will be closely watching several of these political contests including those in India, South Africa, and Mexico. 4
- MFS - "Beyond the News"
- WSJ - "America Has Never Had So Many 65-Year-Olds. They're Redefining the Milestone."
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Barrons - "Stock Prices Are Astronomical. How They Became So Costly."
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Barrons - "The World Is Headed to the Polls This Year. ‘There Are Enormous Geopolitical Implications.’"
*Past performance is not indicative of future performance
Economic Calendar
Monday:
None scheduled, President's Day holiday
Tuesday:
U.S. leading economic indicators (Jan)
Wednesday:
Atlanta Fed President Raphael Bostic delivers welcoming remarks, Fed Gov. Michelle Bowman speaks, Minutes of Fed's January FOMC meeting
Thursday:
Initial jobless claims (Feb), S&P flash U.S. services PMI (Feb), S&P flash U.S. manufacturing PMI (Feb), Existing home sales (Jan), Fed Vice Chair Philip Jefferson speaks, Philadelphia Fed President Patrick Harker speaks, Fed Gov. Lisa Cook speaks, Minneapolis Fed President Neel Kashkari speaks, Fed Gov. Christopher Waller speaks
Friday:
None scheduled
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US Futures*
S&P 4,969.90 -0.71%
DOW 38,584.91 -0.11%
NASDAQ 15,548.90
+0.02%
World Markets*
FTSE 7,721.70
-0.09%
NIKKEI 38,363.61
-0.28%
HANG SENG 16,247.51 +0.57%
*values as of 10:40am EST 2/20/2024
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Treasuries*
2 YR 4.576%
10YR 4.250%
30 YR 4.428%
Cryptocurrencies*
BTC-USD
51,532.47 -1.28%
ETH.CM
2,918.24 -0.60%
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Currencies*
Euro $1.0815
Pound $1.2656
Yen $149.7520
Commodities*
Gold 2,041.10
+0.83%
WTI Crude 78.90
-0.36%
Silver 23.16
-1.34%
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Upcoming Earnings Calls
Monday - President's Day holiday
Tuesday - WMT, HD, BHP, BCS, MDT
Wednesday - NVDA, RIO, ADI, VRSK, EXC
Thursday- INTU, LYG, BKNG, EOG, VALE
Friday - BRK.B, FMX, CCEP, WBD, AER
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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 Eagle Wealth, LLC
4422C Route 27
PO Box 399
Kingston, NJ 08528
(609) 631-8231
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