Market Moment
Glen Eagle®: America’s Women-Owned Trading Desk®
6/6/2022
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- A paper from the University of Minnesota showed that around 62% of all publicly traded companies do not generate a profit. This compares with just 18% back in 1970. Many attribute the change to the increase in private equity firms that are willing to prioritize growth over cash-flow or profit.
- Tech giants are all facing the same harsh reality: job cuts and crushed plans for growth. Last month alone there were 16,800 layoffs by 66 technology companies, the most since May 2020.
- According to experts it costs around $250K to raise a child to adulthood in the US, excluding college education costs. This financial burden is especially hard on the 64% of Americans that live paycheck to paycheck and may be a leading reason why the US birthrate continues to fall. This is problematic from an economic perspective since it is estimated that a 1% drop in the working population leads to a 1% drop in the country’s GDP.
- Companies have been returning more money to shareholders throughout the stock market’s correction. Total dividends and stock buybacks executed by S&P 500 companies in 2022 have equaled $1.2 trillion. This is a 33% increase compared to 2020.
Bloomberg – “For Intangible-Asset Craze, It’s Midnight in the Stock Market”
Barrons – “Fear of a June Swoon Rattles Investors. Is a Rebound Lurking?
Barrons – “The Wedding Boom Is Hiding a Troubling Trend for the Economy”
Barrons – “Investors Will See More Cash Returns. That’s Good for the Stock Market”
Economic Calendar
Monday: None scheduled
Tuesday: Foreign trade balance (Apr), Consumer credit (Apr)
Wednesday: Wholesale inventories revision (Apr)
Thursday: Initial jobless claims (Jun), Continuing jobless claims (May), Real household net worth (Q1), Real domestic nonfinancial debt (Q1)
Friday: Consumer price index (May), Core CPI (May), Consumer sentiment index (Jun), 5-year inflation expectations (Jun), Federal budget balance (May)
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US Futures*
S&P 4,148.75 +1.02%
DOW 33,14. +0.78%
NASDAQ 12,722 +1.36%
World Markets*
FTSE 7,614.66
+1.09%
NIKKEI 27,915.89 +0.56%
HANG SENG 21,653.90
+2.71%
*values as of 8:00 AM EST 06/06/2022
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Treasuries*
2 YR 2.679%
10YR 2.957%
30 YR 3.107%
Cryptocurrencies*
BTC-USD
31,402.93 +6.11%
ETH.CM
1,911.31 +5.17%
^CMC200
683.51 +3.44%
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Currencies*
Euro $1.0726
Pound $1.2559
Yen $130.6380
Commodities*
Gold 1,856.70
+0.35%
WTI Crude 119.41 +0.45 %
Silver 22.39
+2.18%
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Upcoming Earnings Calls
Monday - STAF, CVUA, SAIC, AGX, ALEAF
Tuesday - ASO, VIAO, ODC, GIII, PLAY
Wednesday - YMM, ALOT, ABM, ALYA, FIVE
Thursday- YQ, JG, BEDU, ENZ, TOUR
Friday - AU, GTLB, COUP, FUTU, HQY
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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 EagleWealth, LLC
4422C Route 27
PO Box 399
Kingston, NJ 08528
(609) 631-8231
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