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August 5, 2024 Investor Insights Thumbnail

August 5, 2024 Investor Insights

Investor Insights

Poor Olympians

August 5, 2024

Enjoy this week's "Investor Insights," a weekly newsletter that highlights the financial news you need and provides tips and tricks for making better investment decisions.  

  • A recent congressional report found that 26.5% of surveyed American Olympic athletes earn under $15,000 annually. This year’s report found athletes were poorer for having competed, paying a net cost of about $12,000 a year after accounting for travel, entry fees, and other expenses. 1
  • The US federal government continues to accelerate the pace at which it increases its debt burden. Since December 2019, US government debt has increased by $11.6 trillion, while nominal GDP has grown by $6.7 trillion. 2
  • US existing home sales inventory has risen for 11 consecutive months, returning to pre-COVID levels, yet the median sales price reached a record high of $406,770 in June. 3
  • On 7/28/24, we entered the last 100 days of the 2024 presidential election. Since WWII, the S&P 500 has averaged a 1.8% gain (median: 2.1%) in the 100 days before a presidential election, with gains 68% of the time. *3


Sources:

  1. WSJ - "To Go for the Gold, These Olympians Went into the Red"
  2. Apollo - "Comparing Growth in Government Debt with Growth in Nominal GDP"
  3. MFS- "Beyond the News"

*Past performance is not indicative of future performance

Disclosure: This information is furnished for the use of Glen Eagle Advisors, LLC, Glen Eagle Wealth, LLC, and their clients and/or contacts. It does not constitute the provision of investment advice to any person. It is not prepared with respect to the specific objectives, financial situation, or particular needs of any specific person. Investors reading this commentary should consult with their Glen Eagle representative/financial advisor regarding the appropriateness of investing in any securities or adapting any investment strategies discussed or recommended in this newsletter. 

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