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Since 1994, there have been eight rate cuts within two weeks of the S&P 500 hitting a 52-week high. In all eight cases, the S&P 500 was higher a year later, with a median gain of 14.5%. *1
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Home insurance premiums rose 8.3% in 2024 to a record $6.19 per $1,000 of coverage. The average single-family homeowner now pays about $2,370/year—9.6% of total mortgage costs. 1
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Only 54% of Americans view capitalism positively (lowest since 2010), while 39% now view socialism positively (a record high). Support for capitalism splits by party: 74% of Republicans vs. 42% of Democrats. 1
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Public companies are shrinking in number, and IPOs are getting older: the median IPO age was 5 years in 1999, 8 in 2022, and 14 today. 2
- MFS - "Beyond the News"
- Apollo - "17 Charts to Consider as Stocks Rally and the Economy Cools"
*Past performance is not indicative of future performance
Economic Calendar
Monday:
St. Louis Fed President Alberto Musalem speech, Fed governor Stephen Miran speech, Cleveland Fed President Beth Hammack speech, Richmond Fed President Tom Barkin speech
Tuesday:
Fed Vice Chair for Supervision Michelle Bowman speech, S&P flash U.S. services PMI (Sep), S&P flash U.S. manufacturing PMI (Sep), Atlanta Fed President Raphael Bostic speech, Fed Chair Jerome Powell speech
Wednesday:
New home sales (Aug), San Francisco Fed President Mary Daly speech
Thursday:
Chicago Fed President Austan Goolsbee speech, Initial jobless claims (Sep), GDP (third estimate) (Q2), Advanced U.S. trade balance in goods (Aug), Advanced retail inventories (Aug), Advanced wholesale inventories (Aug), Durable-goods orders (Aug), Durable-goods minus transportation (Aug), New York Fed President John Williams opening remarks, Fed Vice Chair for Supervision Michelle Bowman speech, Existing home sales (Aug), Fed gov. Michael Barr speech, Dallas Fed President Lorie Logan speech, San Francisco Fed President Mary Daly speech
Friday:
Personal income (Aug), Personal spending (Aug), PCE index (Aug), CE (year-over-year), Core PCE index (Aug), Core PCE (year-over-year), Richmond Fed President Tom Barkin speech, Consumer sentiment (final) (Sep), Fed Vice Chair for Supervision Michelle Bowman speech
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