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10 Things You Should Know This Week

Week of 7/14/24


Love it, gotta have it – Warren Buffet's Berkshire Hathaway owns $158 billion, or about 3%, of the Treasury-bill market. That’s more than international organizations, stablecoin issuers, and offshore money-market funds combined. (Source: Morningstar)  


Ride the tide – Global stocks rose in the first half of the year, though they couldn’t keep pace with tech stocks’ remarkable rally. While the MSCI ACWI gained 11% since January, big tech saw a gain of 30% in the same timeframe—Nvidia alone clocked in a gain of 150%. (Source: Reuters, as of 6/30/24)


Can’t tell if this is considered aging like milk or wine – Over the past 50 years, the S&P 500 Index has become more highly concentrated in technology and financial stocks, making it more sensitive to interest-rate changes and more correlated with other stock indices. The Index's dividend yield has also decreased from 4.11% in the 1970s to 1.45% in the 2020s; fewer dividends mean the Index could be more volatile than it used to be. (Source: The Wall Street Journal)


But they can’t take Motown – For the first time, non-US car manufacturers outpaced domestic production in 2023. Toyota Motor Corp. and Mercedes-Benz Group AG built more than 4.9 million cars last year while the big three domestic brands (General Motors Co., Ford Motor Co., and Stellantis NV) produced 4.6 million. (Source: Bloomberg)


Fifth time’s the charm – Britain's new Prime Minister Keir Starmer, the fifth new prime minister in the country over the course of the last decade, pledged to use his massive electoral majority to rebuild the country, saying he wanted to take the heat out of politics after years of upheaval and strife. (Source: Reuters)


You get a medical degree, and you get a medical degree! – Bloomberg Philanthropies is gifting $1 billion to Johns Hopkins University, joining other high-profile donors who have contributed to tuition-free medical schools across the country. Johns Hopkins said Monday that for most medical school students, the gift will cover the full cost of attendance, including tuition and living expenses. (Source: AP News)


With great power comes great responsibility – The FDA unanimously recommended the approval of a new Alzheimer's drug, donanemab. The monthly intravenous infusion targets amyloid, a protein that piles up in the brain, and is expected to help with early stages of the disease. While the new treatment is considered a significant advancement, there are concerns about the drug's substantial health risks. (Source: The New York Times)


Here’s the beef – Netflix is planning a televised Labor Day showdown between Joey Chestnut and Japan’s former hot-dog champ Takeru Kobayashi in an event billed as "Chestnut vs. Kobayashi: Unfinished Beef." Chestnut’s fans were denied their usual spectacle when he was banned from this year’s Fourth of July contest due to partnerships that clashed with its sponsor, Nathan’s. (Source: The Wall Street Journal)


Making more time to be a Kenmaid – John Cena is saying goodbye to the sport that made him a star. Cena, 47, is a 16-time World Wrestling Entertainment world champion, but the wrestler-turned-actor announced during a recent event that he’ll retire from the organization in 2025. (Source: NBC News)


Craning the ol’ neck – Basketball phenom Olivier Rioux, an 18-year-old Canadian native who recently committed to playing for the University of Florida Gators, stands at a whopping 7'9". The Guinness World Book of Records declared Rioux the world's tallest teenager back in 2021 when he was a mere 7'5". (Source: CNN)


Investing involves risk, including the possible loss of principal. Past performance does not guarantee future results.

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. 

A stablecoin is a new class of cryptocurrencies that attempts to offer price stability and are backed by a reserve asset.

MSCI ACWI is a free float-adjusted market capitalization index that measures equity market performance in the global developed and emerging markets, consisting of developed and emerging market country indices. MSCI index performance is shown net of dividend withholding tax.

S&P 500 Index is a market capitalization-weighted price index composed of 500 widely held common stocks. Indices are unmanaged and not available for direct investment.

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