Hello, this is James Mayer, Branch Manager, from the Huffman Mayer Paolo Wealth Management Group of Wells Fargo Advisors. Summer is here and that means Intern Dylan is here for the next few months. Now let’s kick it over to Phil and Dylan for 3 topics in June.
Thanks James.
· According to the June 9th edition of FactSet’s “Earnings Insight”, year-to-date returns for the conventional (weighted) S&P 500 were 14.9%. The year-to-date return for a version of the index where every company counts equally would be 4.1%. The difference is due to a high share of overall returns coming from just a few companies that make up a large percentage of the weighted index.
· According to the May issue of Harper’s Magazine, there is an 80% chance that a remote worker has worked multiple jobs at the same time in the past year, and thirty-three percent of these workers say that they have been fired from a job when their employer found out that they were doing “double duty.”
· One often cited predictor of future economic conditions is “Doctor Copper.” Very simply, the argument goes that copper is used in wiring any kind of new building or vehicle and has applications in many small electronic devices – if demand is going up, it should mean that the economy is getting better. Detractors of this theory will point out that it ignores the supply side of the equation, which also has a huge influence over copper’s price. According to the London Metals Exchange, the picture from Dr. Copper appears to be improving, with the spot price up 8% since its recent low on May 25th
Summary:
1. While the S&P 500 is up 14.9% YTD, the equal weight version of the index is up only 4.1% for the period.
2. 80% of remote workers have worked two or more jobs at once, and 1/3 of them say they’ve been fired for doing so.
3. Copper prices are often used to predict the economy’s short-term future. From May 25th-June 21st, copper prices rose
8%.
Back to James & Thomas with a fun take on the Month of July.
Ryan is out on paternity leave. Congrats on the birth of his daughter Palmer Rose. We can’t wait to meet her and get her in one of our videos.
JAMES: Thanks Phil. July is in the middle of the summer and often the hottest month of the year. There are tons of days to be excited for. The most popular of them all being 4th of July, Happy birthday to my daughter Reese. I hope you all had a great holiday and got to watch some fireworks!
THOMAS: Yeah, we had a nice quiet 4th. James another reason to celebrate in July is it’s Donna and Ryan’s work anniversary. A big congrats to Donna on her 35th year with us. I have many years to go to catch up to you.
JAMES: It’s your birthday too Ryan!
THOMAS: Yes, it is, and we also never miss July 23rd for National Gorgeous Grandma day.
JAMES: That is very special, seeing as how we have friends and clients who are gorgeous Grandma’s.
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As always stay happy, safe, and healthy and hopefully we will see you very soon.