September 16, 2024 Market Moment
Market Moment
Glen Eagle®: America’s Women-Owned Trading Desk®
9/16/2024
- Last year, home insurance companies lost $15.2 billion because of 28 natural disasters that caused more than $1 billion in damages. As a result, homeowners are paying 38% more for insurance now than they did back in 2019. 1
- The acronym "AI" was mentioned 414 times in Q2 2024 earnings calls of major tech companies (Alphabet, Amazon, Apple, Meta, Microsoft, NVIDIA), a 5% increase from the previous quarter. 2
- The average credit card interest rate is now 21.5% (up from 15% in 2019), and the average 60-month auto loan interest rate is 8.2% (up from 5.3% in 2019). As a result, delinquency rates on credit cards and auto loans are at the highest level in over a decade. 3
- According to the National Council of Real Estate Investment Fiduciaries (NCREIF), the value of US office properties declined 14.4% on a year-over-year total return basis through 6/30/24. Office properties have now dropped for five consecutive quarters. 2
Sources:
- Substack - "Home Insurance is a Really Big Problem"
- MFS - "Beyond the News"
- WSJ- "Americans Are Falling Behind on Their Bills. Wall Street Is Alarmed.
*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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