Recap: Week 52, 2024 - Still bearishly fearful

$ES_F (S&P 500 futures) and $SPY are like your main feed engagement - they track how the biggest U.S. companies are doing. That ~1% gain? It's like getting a steady stream of likes, nothing viral but definitely healthy.

$NQ_F (Nasdaq futures) and $QQQ are like your Reels performance - they focus on tech companies. That 1.2-1.6% jump is similar to one of your Reels getting picked up by the algorithm and performing better than usual.

Why it should matter to you
If you have a 401(k), invest in apps like Robinhood, or use robo-advisors like Wealthfront, these numbers directly impact your investment value. When these numbers go up, your investing app notifications should be a bit more pleasant to check!

📉 Durable Goods Orders (Down 1.1%)

• Think: Big-ticket items like fridges, cars, and furniture

• What it means: People are buying fewer expensive items

• Impact on you: Could signal better deals and discounts coming up, but also hints at consumers being more careful with spending

📉 Consumer Confidence (104.7, down from 112.8)

• Think: How optimistic people feel about their finances and the economy

• What it means: People are feeling less confident about spending and the economy

• Impact on you: When confidence is lower, businesses might offer more sales to attract customers, but job market might get more competitive

📈 New Home Sales (664K, up from 627K)

• Think: How many new houses are being bought

• What it means: More people are buying new homes despite high interest rates

• Impact on you: Could mean housing prices stay high, but also suggests the real estate market is still active

📈 Initial Jobless Claims (219K, slightly lower than expected)

• Think: Number of people filing for unemployment for the first time

• What it means: Job market is relatively stable

• Impact on you: Suggests job security remains decent, good for those looking for work

📉 Crude Oil Inventories (-4.237M, bigger drop than expected)

• Think: Amount of oil stored and ready for use

• What it means: Larger decrease in oil supplies than anticipated

• Impact on you: Might lead to slightly higher gas prices at the pump in the short term

Overall Takeaway

The economy is showing mixed signals - while the job market remains stable and housing is active, people are being more cautious with big purchases and feeling less confident. For millennials, this might be a good time to:

• Budget planning: Look for deals on big purchases

• Career moves: Stay alert for job opportunities

• Housing strategy: Be strategic about housing decisions

• Daily expenses: Budget carefully for everyday expenses like gas