Pending Home Sales, Interest Rates, What We Are Watching
Economy
Housing
- Pending Home Sales were down in May, falling 2.1% from the previous month and now at their lowest level on record.
Source: National Association of Realtors https://www.nar.realtor/blogs/economists-outlook/pending-sales-in-may-2024-hit-a-new-low
Interest Rates
The next Federal Open Market Committee meeting is July 30-31, with the Fed expected to hold rates steady, targeting 5.25%-5.50%, as they wait for inflation to ease further.
Source: Macrotrends
Stocks and Indexes
Equal Weighted vs Market Cap Weighted
S&P 500 Market Cap Weighted YTD 15.28%
S&P 500 Equal Weight YTD 4.56%
As of June 28, 2024
The stock market numbers we see on the news typically will mention the market cap weighted returns of the S&P 500. This means that the larger a company is, in terms of market capitalization, the larger the impact of that stocks return will be on the index return.
The difference in performance of the market cap versus equal weight s&p 500 points out that the appreciation of the index is driven by a smaller number of large company share prices, indicating that this market is anything but healthy.
Our practice would like to see a broadening out of share price performance, as one piece of evidence, that this is a healthy stock market, that would warrant additional market exposure.
Bonds
Yields rose again on the 10 year, closing at 4.45% on July 2nd.
January 2024 10 Year Yield 3.946%
Gold
The price of gold closed basically unchanged last week, to $2,330.90 per troy ounce.
Up 13.3% YTD.
TECHNICAL UPDATE
The adjusted advanced/decline divergence continues, as breadth takes on the opposite tact away from the exuberant S&P500.
Stanton Group Risk Management Current Net Long Positioning
There were no changes made in our Net Long Stock positioning within our model portfolios.
Please schedule a call to review historical and current positioning using our Core & Protect Risk Management Process, our research, and our model portfolios.
https://calendly.com/jstanton-1/stanton-group-introduction-with-john-stanton
Community Supported Agriculture
Elder Oaks Farm, St Charles Il
In my ongoing journey into nutritional eating, we chose Elder Oaks Farm for their Community Supported Agriculture offering this year.
Their mission is to create a vibrant a self sufficient community that values and supports small-scale, chemical-free, local, and sustainable agriculture.
Picked up our semi weekly box, which included fresh kale, red onions, raspberies, butter lettuce, and red leaf lettuce.
Looking forward to picking up our next order, and getting know Quinton and Samantha at Elder Oaks Farm!
https://www.elderoaksfarm.com/
Happy Independence Day!
Wishing you and your families a safe, fun, and enjoyable 4th of July.
John is the founder of The Stanton Group WP. With more than three decades of experience in the financial services industry, and through SeaCrest Wealth Management, LLC, serves as the Registered Investment Advisor Representative for clients, focusing on financial planning and the investment strategies to support their financial plan.
Based in Naperville, Illinois, John serves clients in Naperville, Plainfield, Darien, Aurora, Geneva, St Charles, and throughout the Chicagoland area.
Learn more about John’s services by visiting www.stantongwp.com
John can be reached at l 630-445-2380 or email JStanton@seacrestwm.com.
The Stanton Group WP provides investment advisory services through SeaCrest Wealth Management LLC, (the “SWM”) a registered investment advisor. SWM is a registered investment advisor (“RIA”), with the U.S. Securities and Exchange Commission located in the State of New York. SeaCrest Wealth Management, LLC can be reached at (914) 502-1900.
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