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October 1, 2024 Investor Insights Thumbnail

October 1, 2024 Investor Insights

Investor Insights

Spending on Pets

October 1, 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. 

 

  • In 2023, Americans spent $186 billion on pet products and services, more than on childcare. Pet spending has grown faster than overall spending every year since 2011, the longest streak since at least 1960. 1
  • As of Tuesday, 9/24, there are six weeks until Election Day 2024. In the last six U.S. Presidential election years, the S&P 500 has averaged a 3.7% decline in the six weeks before Election Day, with declines in four out of six times. *2
  • In 2022, only 40% of people aged 18-29 had a positive view of capitalism, 33 percentage points lower than those 65 and older. That may be because the top 1% now hold more wealth than the entire middle 40%, a reversal from three decades ago. Additionally, the wealth of the top 0.01% grew nearly 6x faster than the bottom 50% since 1976. 3
  • Average 30-year mortgage rates have dropped to just over 6%, but high home prices are still keeping monthly payments out of reach. Rates would need to fall to about 5.25% for the monthly payment on a $419,000 home to match the average U.S. rent of $1,840. 4

Sources:

  1. Economist - "Bureau of Economic Analysis"
  2. Bespoke - "Six Weeks Left"
  3. Bloomberg - "How Americans’ Trust in Big Business Went From Bad to Worse"
  4. WSJ - "Rent or Buy? How Falling Mortgage Rates Change the Math"

*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. 

Glen Eagle Wealth, LLC is a member of FINRA, MSRB and SIPC 

Glen Eagle Advisors, LLC is a SEC Registered Investment Advisor 

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