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10 Things You Should Know This Week

Week of 11/17/24

One

But what does the Magic 8 Ball say?  As of November 11, the S&P 500 Index was up 36% over 52 weeks. Since 1995, there have been eight other instances in which the Index experienced rallies of the same multitude. Following those prior instances of gains above 36%, the Index tended to gain 1% over one month and rise another 4% over six months, on average. (Source: MarketWatch)

Two

Crypto’s crowning achievement – Bitcoin surged to new all-time highs in the days following the election, nearing the $100,000 mark for the first time ever. Former President Donald Trump's re-election has opened the door to a possible strategic Bitcoin reserve―an idea floated by Trump and several other politicians during the campaign. (Sources: Decrypt and Yahoo Finance)

Three

The rising tide left these boats – While US stocks and crypto surged after the election, gold and long-term bonds reacted less favorably. Gold, which had been rallying in October, declined as the US dollar strengthened. Meanwhile, 10-year Treasury yields hit a four-month high on concerns that proposed tariffs could reignite inflation. (Source: USA Today)

Four

The best way to spread holiday cheer is to order now and ship it right here – China's exports grew at the fastest pace in more than two years in October. Factories rushed inventory to major markets in anticipation of further tariffs from the US and the European Union as the threat of a two-front trade war loomed large. (Source: Reuters)

Five

Ugh these dues, dude – Homeowners association (HOA) dues are rising faster than inflation for many of the 76 million residents who kick in for shared expenses. In some parts of Washington state, HOA dues have more than doubled over the last year on average. And condo association dues are up 6% nationwide this year vs. last year, and as much as 15% in parts of Florida. (Sources: Realtor.com and Redfin)

Six

Big weather, bigger bills – New reports indicate that the total cost of damage caused by extreme weather events globally was approximately $2 trillion between 2014 and 2023—roughly in line with the economic toll of the 2008 Global Financial Crisis. The US suffered the greatest economic losses over the period at $934.7 billion, followed by China at $267.9 billion and India at $112 billion. (Source: Axios)

Seven

A slippery faux pas – Costco is recalling nearly 80,000 pounds of its Kirkland Signature butter in Texas because the packaging is missing allergen information. The boxes of both salted and unsalted butter include cream as an ingredient, but failed to include the "may contain milk" warning required by law for top allergens. (Source: Forbes)

Eight

Lazy and stressed? A recipe for takeout success – Election Day 2024 brought a 40% increase in the quantity of wine sales on the DoorDash delivery platform, compared with the previous six Tuesdays. DoorDash also clocked a 30% increase in the number of alcohol sales as well as increased orders for candy, coffee, and comfort foods. (Source: The New York Times)

Nine

New hippo, who dis – Just two months after a feisty pygmy hippo in Thailand named Moo Deng went viral, Edinburgh Zoo welcomed their own incredibly rare pygmy hippo calf named Haggis. While visitors won’t be able to visit Haggis just yet, in Thailand, visitors are only able to see Moo Deng for five minutes at a time during limited days of the week. (Source: NPR)

Ten

Age is just a number – The NHL’s youngest player, Macklin Celebrini (18), scored two goals against the league’s oldest player, Marc-Andre Fleury (39), in the recent game between the San Jose Sharks and the Minnesota Wild. The Wild went on to win the game 5-2 despite Celebrini’s goals. (Source: AP News)

S&P 500 Index is a market capitalization-weighted price index composed of 500 widely held common stocks.

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

Hartford Mutual Funds may or may not be invested in the companies referenced herein; however, no particular endorsement of any product or service is being made.

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