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The technology sector has the highest revenue exposure to China (10.6%). Yet, some tech-oriented companies, such as Tesla and Apple, have significantly higher exposure, with 20.9% and 16.1% revenue exposure, respectively. 1
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Affordability continues to dampen potential young home buyers’ ability to make a purchase. The median age of first-time home buyers is now at an all-time high of 38 years old (up from 31 pre-pandemic). 2
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74% of Americans plan to use credit cards for holiday shopping this year—yet 31% of those who used credit cards for holiday purchases last year still haven’t paid off their balances. 3
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Stock market gains in Trump’s first and second terms are nearly identical— the S&P 500 was up ~14% through late October in both periods, with technology leading as the best performing sector and energy lagging as the worst performing sector. *3
- The Irrelevant Investor- "The Compound and Friends: What Did the Fed Actually Say?"
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A Wealth of Common Sense - "Are Young People Screwed?"
- MFS - "Beyond the News"
*Past performance is not indicative of future performance
Economic Calendar
Monday:
None scheduled
Tuesday:
Veterans Day holiday, bond market closed, Fed governor Michael Barr speaks, NFIB optimism index (Oct)
Wednesday:
New York Fed President John Williams speaks, Philadelphia Fed President Anna Paulson speaks, Fed governor Chris Waller speaks, Atlanta Fed President Raphael Bostic speaks, Fed governor Stephen Miran speaks, Boston Fed President Susan Collins speak
Thursday:
Initial jobless claims (Nov), Consumer price index (Oct), CPI year over year (Oct), Core CPI (Oct), Core CPI year over year, New York Fed President John Williams speaks, St. Louis Fed President Alberto Musalem speaks, Cleveland Fed President Beth Hammack speaks, Monthly U.S. federal budget, Atlanta Fed President Raphael Bostic speaks
Friday:
U.S. retail sales, Retail sales minus autos, Producer price index, Core PPI, PPI year over year, Core PPI year over year, Business inventories, Kansas City Fed President Jeff Schmid speaks, Dallas Fed President Lorie Logan speaks
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