August 5, 2024 Market Moment
Market Moment
Glen Eagle®: America’s Women-Owned Trading Desk®
8/5/2024
- 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
- WSJ - "To Go for the Gold, These Olympians Went into the Red"
- Apollo - "Comparing Growth in Government Debt with Growth in Nominal GDP"
- MFS- "Beyond the News"
*Past performance is not indicative of future performance
Client Focused Trading® for large institutions, pensions, hedge funds, wealthy families, and private equity for over 30 years.
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This desk commentary is for informational purposes only
Carol Ann Fernandez, Rob Michel, Grier Vacek
(609) 631-8231
www.gleneagleadv.com
Glen Eagle Wealth, LLC | 4422C Route 27, PO Box 399, Kingston, NJ 08528-0399
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