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Back in Business and Pinching Pennies

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Behind The NumbersApril 05, 2024 | 2 min read
  • Back in Business – The *S&P 500 closed out March 2024 with a 3.1% gain. Since January 2024, the S&P 500 has grown 10.2%, marking the best first-quarter performance since 2019 when it gained 13.1% (source: CNBC).
  • Pinching Pennies – The 2023 Gallup Poll found that only 77% of retirees are currently living comfortably in retirement. This is down from 79% in 2022 and 80% in 2021. However, in 2017, only 71% of retirees were living comfortably (source: Gallup).
  • It’s Game Time – Nvidia, a graphical processing unit manufacturer, rallied in Q1 2024, with an 82.5% increase in stock price, with March 2024 alone seeing 14.2% in gains (source: CNBC).
  • Let’s Feast – The February 2024 *Consumer Price Index reported no change in the food index, with three of six categories decreasing. The fruits and vegetable and nonalcoholic beverages indexes declined 0.2%, while the dairy index dropped 0.6% (source: U.S. Department of Labor).
  • Mind on the Money – Disposable personal income (personal income less taxes) slowed in February 2024, increasing by $50.3 billion. This follows a $67.6 billion jump in January 2024 (source: Bureau of Economic Analysis).
  • On Island Time – Rhode Island experienced the highest percent change in single-family housing prices in the fourth quarter of 2023, with a 15.11% increase. Vermont and West Virginia were close behind with 13.26% and 12.39%, respectively (source: Statista).
  • Trade Talk – The U.S. current account deficit, which tracks trade balances between U.S. residents and residents of other countries, shrunk by $1.6 billion in Q4 2023. This brings the total deficit to $194.8 billion, down from $196.4 billion in Q3 2023 (source: Bureau of Economic Analysis).
  • Out of Work – The 4-week moving average for unemployment insurance claims was 211,000 for the period ending March 23, 2024. This figure is down from March 2023s 4-week average of 227,000 (source: U.S. Department of Labor).
  • A Quarter In – A study conducted by Pew Research found that individuals aged 18-29 are most likely to set New Year’s Resolutions. Of the 49% that set resolutions, 79% of individuals established health goals and 68% set finance benchmarks (source: Pew Research).
  • King of the Box Office – Godzilla x Kong: The New Empire grossed $80 million during the opening week, only $2.5 million behind the $82.5 million opening of Legendary’s other release, Dune: Part Two (source: Deadline).

*Definitions and Indexes

This newsletter is provided for informational purposes only and does not constitute investment advice or a recommendation regarding any specific product or security. Past performance is not indicative of future results. You cannot invest directly in an index. All references to tax or legal matters are provided for informational purposes only. You should consult your legal or tax professional regarding your specific situation. All investing is subject to risk, including possible loss of principal.

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