• Since 1945, December has been the S&P 500's best-performing month (tied with April), averaging a 1.55% gain. However, it's worth noting that two of the three Decembers with over a 5% decline occurred in the last five years (-9.3% in 2018 and -5.9% in 2022). *1
• According to the New York Fed, less than 65% of consumers can access $2,000 within a month for unexpected needs. One place they may turn to is their credit cards as the application rate for increases of credit limits increased to 17.8% in October, up from 11.2% a year earlier. 1
• Wall Street surveys reveal AI infrastructure and projects as the top priority for the technology budget in the next three years. A report earlier this year showed 75% of CIOs testing or implementing AI, and a survey of 600 executives indicates that over 60% plan to adopt new AI products. 2
• Year to date the S&P 500 is up 21%, but this performance has been concentrated in just a few stocks. The seven leading stocks in the index are up 105%, creating a significant gap in performance between them and the rest of the stocks in the index, which are only up 7% on average. 3

1. MFS- "Beyond the News"
2. Barrons - "Nvidia and 2 Smaller AI Stocks That Look Undervalued. They Could Be Big Winners."
3. The Irrelevant Investor - "7 Deadly Stocks"

*Past performance is not indicative of future performance

Economic Calendar

Monday:

Factory orders (Oct)

Tuesday:

S&P U.S. services PMI (Nov), ISM services (Nov), Job openings (Oct)

Wednesday:

ADP employment (Nov), U.S. productivity (revision) (Q3), U.S. trade deficit (Oct)

Thursday:

Initial jobless claims (Dec), Wholesale inventories (Oct), Consumer credit (Oct)

Friday:

U.S. employment report (Nov), U.S. unemployment rate (Nov), U.S. hourly wages (Nov), Hourly wages year over year, Consumer sentiment (prelim) (Dec)

Upcoming Earnings Calls

Monday - KT, SAIC, IDT, LANV, QD

Tuesday - AZO, FERG, MDB, NIO, SJM

Wednesday - VEEV, CPB, CHWY, BRZE, THO

Thursday- AVGO, LULU, DG, COO, AEG

Friday - MOMO, JOUT, ONMD, SGMA

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