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1 | On a champagne budget – The S&P 500 Index has hit multiple highs this year and is trading at 22.5 times its projected earnings over the next 12 months, well above its average of 16.8 times since 2000. The 10 largest companies in the S&P 500 Index accounted for 39.5% of its total value at the end of July, the most ever, according to Morningstar. (The Wall Street Journal) |
2 | Paul Bunyan is filing for unemployment – Lumber prices, which hit a three-year high earlier this year, are falling. Lumber mills ramped up production prior to possible tariffs, but demand has fallen because consumers are wary to spend on big projects post-tariffs: US construction spending dropped 3.4% in July. (Source: The Wall Street Journal) |
3 | A glimmer of housing hope – Mortgage demand surged 9.2% in early September, reaching its highest level in three years. A weaker-than-expected jobs report helped push the average rate on a 30-year fixed mortgage down to 6.29%, prompting a wave of refinancing and renewed interest from homebuyers. (Source: CNBC) |
4 | Cola war or cola conqueror? – The market-cap gap between Coca-Cola and PepsiCo ballooned to $132 billion in June—its widest in 25 years—before narrowing slightly to $93 billion, which is still the largest disparity since the early 2000s. Coke remains in the lead, especially as Pepsi’s flagship soda experiences its fourth straight year of market-share decline. (Source: Sherwood News) |
5 | Hoping the wheels don’t come off this wagon – The eurozone economy, as measured by PMI, grew at a 12-month high in August (51.0), but that growth is barely over the threshold between growth and contraction (50.0). Weak growth in the services sector, which is one of the strongest economic drivers for Europe, was slightly offset by solid manufacturing results. (Source: Reuters) |
6 | This sandwich is all crust – A majority of the "sandwich generation” (75%) say financial times are tough right now as they juggle caring for their own children and aging parents at the same time. About 25% of Americans fit this label, meaning they have at least one child under 18 and a living parent to look after. (Sources: Allianz Center for the Future of Retirement and Newsweek) |
7 | Play it cool, don't look desperate – Delta Airlines is the first airline to publicly share that it's using a pilot program that allows AI to set some of its fares based on the individual traveler, rather than using set fares. So far, the new system has already been profitable for the airline. Privacy advocates worry moving from set pricing could discriminate since it's about what a passenger is willing to pay, not "fair" pricing. (Source: Fortune) |
8 | And you're currently one of 'em – Globally, an average of 28% of adults say they use the internet constantly, while another 40% say they use it several times a day. Only 12% of Americans say they use the internet once a day or less. Unsurprisingly, younger people tend to fess up to constant usage, regardless of location, while older generations, especially those over 50, are less hooked on their devices. (Source: Pew Research) |
9 | There’s no putting this creepy doll back in the box – The fourth movie in the paranormal Conjuring series, “The Conjuring: Last Rites," resurrected a sleepy box office with its $83 million opening weekend. This marked the third largest domestic horror movie debut of all time. (Source: Hollywood Reporter) |
10 | No no-nos right now – There hasn't been a single no-hitter game in the MLB this year, which hasn’t happened since 2005. Los Angeles Dodgers pitcher Yoshinobu Yamamoto nearly broke the streak on 9/7 against the Baltimore Orioles, making it eight and two-thirds innings with zero hits, only to see his bid spoiled on his 112th pitch by a fly ball over the fence. (Source: The Wall Street Journal) |
S&P 500 Index is a market capitalization-weighted price index composed of 500 widely held common stocks. Investors cannot directly invest in indices.
PMI (Purchasing manager’s index) is an indicator of the economic health of the manufacturing sector. A reading above 50 signals economic expansion; below 50 signals contraction.
Past performance does not guarantee future results.
Investing involves risk, including the possible loss of principal. Foreign investments may be more volatile and less liquid than US investments and are subject to the risk of currency fluctuations and adverse political, economic and regulatory developments.
Hartford Funds may or may not be invested in the companies referenced herein; however, no particular endorsement of any product or service is being made.