Hello, this is James Mayer, Branch Manager, from the Huffman Mayer Wealth Management Group of Wells Fargo Advisors.  The heat wave is finally over, and we can start bringing out our fall fits. I don’t know if you all are as excited as I am to bring sweaters back into my wardrobe. We appreciate you tuning in to September’s edition of “The Market Recap”, let’s see what Phil has to say.

 

Thanks, James!

 

1.       Third quarter 2024 earnings are expected to grow 4.9% y/y, down from 7.8% growth which was expected on 6/30/24 according to FactSet. Current expectations for 2025 are for S&P 500 earnings per share to grow 15.4%.

2.       The National Retail Federation expect Halloween 2024 spending to reach $11.6 billion, down about 5% from 2023. Somewhat surprisingly, candy is only the third largest spending category for Halloween, at $3.5 billion. Americans are expected to spend roughly $3.8B each on Costumes and Decorations for the holiday this year.

3.       With CPI inflation readings under 3% the past few months, there has been a decline in companies mentioning inflation on 2Q24 earnings calls according to FactSet. Twenty-one percent fewer companies in the S&P 500 mentioned the topic this past quarter when compared to 2Q23, and 43% fewer than 2Q22.

 

In Summary:

1.       3Q24 EPS are expected to grow 4.9% y/y, and 2025 EPS are expected to grow 15.4% vs. this year.

2.       The NRF expects $11.6B in Halloween spending, down 5% vs. 2023 levels. The largest categories are Costumes, Decorations, and Candy, in that order.

3.       Lower inflation has led to fewer mentions on 2Q earnings calls. 21% fewer S&P 500 calls mentioned the topic than last year, which is a 43% decrease vs. 2Q22.

Now let’s see what James & Ryan has to say.

 

JAMES: Thanks Phil, The spooky October is here and is one of my favorite months in fall.

 

RYAN: Is that because you are turning 50 James. Do we have to get you a walker and hearing aid?

 

 

 

We always want to talk with you.  If you feel you know someone who would enjoy this video please feel free to send them the link.

As always stay happy, safe, and healthy and hopefully we will see you very soon

Huffman Mayer Wealth Management Group of Wells Fargo Advisors

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