The percentage of Americans owning stocks has reached a record high of 58%, up from 53% in 2019. This marks the highest household stock ownership rate recorded. 1
Houthi rebels are disrupting Red Sea shipping, leading four of the world's five largest container shipping companies to halt transit through the Red Sea. Over 10% of oil and 20% of container traffic was shipped through the Red Sea prior to the conflict. 2
Apple's value is approaching that of France's entire stock market, concentrating investor reliance on a smaller number of companies. The top 10 companies in the S&P 500 now equal the combined value of the bottom 415. *3
Americans over 70 control over 30% of the country's wealth, with a net worth increase of $14 trillion since 2019. This growth is attributed to the aging population and rising home values, particularly among older baby boomers. 4
WSJ- "More Americans Than Ever Own Stocks"
Advisorpedia - "Will The Red Sea Blockade Reignite Inflation Fears?"
Advisor Hub- "Forget the top 5, these stocks were the biggest movers in the S&P 500 in 2023"
Bloomberg- "Americans Over 70 Hold More Than 30% of the Country's Wealth"
*Past performance is not indicative of future performance
Economic Calendar
Monday:
Christmas holiday
Tuesday:
S&P Case-Shiller home price index (20 cities) (Oct)
Wednesday:
None scheduled
Thursday:
Initial jobless claims (Dec), Advanced U.S. trade balance in goods (Nov), Advanced retail inventories (Nov), Advanced wholesale inventories (Nov), Pending home sales (Nov)
Friday:
Chicago Business Barometer (Dec), Bond market closes early
US Futures*
S&P 4,769.10+0.30%
DOW 37,497.27+0.30%
NASDAQ 15,048.16
+0.37%
World Markets*
FTSE 7,697.51
+0.04%
NIKKEI 33,305.85
+0.16%
HANG SENG 16,340.41 -1.69%
*values as of 12 PM EST 12/26/2023
Treasuries*
2 YR4.373%
10YR 3.906%
30 YR 4.056%
Cryptocurrencies*
BTC-USD
41,847.44-3.99%
ETH.CM
2,194.09-3.09%
^CMC200
860.70-3.62%
Currencies*
Euro $1.1035
Pound $1.2703
Yen $144.4870
Commodities*
Gold 2,070.20
+0.05%
WTI Crude 76.09
+3.33%
Silver 24.49
-0.30%
Upcoming Earnings Calls
Monday - Christmas holiday
Tuesday - BHP, SATX, MESO, RFAC, DZSI
Wednesday - SDA, IREN, INSE, BANX, XBIT
Thursday- AEG, MANU, MDRX, ALDX, IH
Friday - DJCO, TAYD, ONMD, SIF, MIRA
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
