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7 charts from the past week that tell an interesting story in markets and investing…
1) The $1 Trillion Club
Facebook ($FB) became the 5th US Company to cross the $1 trillion market cap milestone, joining Apple, Microsoft, Amazon and Google.
Facebook’s big win this week: a federal court dismissed the FTC’s antitrust complaint against the company, which had threatened a divestiture of Instagram/WhatsApp.
2) Housing Boom Continues
US Home prices continued their rapid ascent, rising to record highs once again with a 14.6% nationwide increase over the last year. That’s the largest 1-year increase on record.
There were 3 metro areas that saw 20+% yearly increases: Phoenix, San Diego, and Seattle.
3) High Demand + Supply Constraints = Rising Prices
The Prices Paid Index (a measure of inflation) in the ISM Manufacturing report rose to its highest level since 1979.
Featured prominently in ISM survey responses were indications of strong demand, supply chain constraints, and rising costs/prices…
4) Rising Prices at the Pump
Speaking of rising prices, Crude Oil closed above $75 this week for the first time since October 2018.
And gasoline prices this 4th of July will be the highest since 2014.
5) Pandemic + Recession = Record Boom in Wealth
Household wealth in the US grew by $13.5 trillion in 2020, the largest annual increase ever recorded.
6) Jobs/Travel Comeback Continues
850,000 US jobs were added in June, the largest gain in 10 months. Total payrolls are now 4.4% below their pre-covid high.
The US averaged over 2 million airline travelers a day in the last week for the first time since March 7, 2020.
We’re now only 17% below pre-covid levels and closing the gap fast.
7) Robinhood Riches
Robinhood’s (New Ticker: $HOOD) long-awaited IPO filing revealed some astounding growth numbers, with $522 million in Q1 revenue, more than quadruple sales from a year ago. Total funded accounts are now at 18 million, a 151% increase from the first quarter of 2020.
And that’s it for this week.
Thanks for reading.
Have a great weekend and happy 4th!
-Charlie
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