As of writing the S&P 500 in the US is up nearly 15% year to date. That would be a decent annual return, but we’ve not yet notched six months in 2024 so it’s a very impressive return for half a year.
Recently a poll conducted for the Guardian found 49% of Americans believed the S&P 500 was in the red this year. Still, that’s an improvement from September 2023. Back then 59% of Americans thought the S&P 500 was down for the year. At the time it was up 16% and finished up 26% for 2023.
Unemployment? That’s never been worse, at a 50 year high according to 49% of Americans. Though in reality, it’s under 4% and nearing a 50 year low.
The economy? That’s a stinker too apparently. 56% of Americans believe the place is in recession (which is 6 months of negative growth). Nope, not correct either. There hasn’t been a quarter of negative GDP in the US since Q2 2022. Either way, 58% of Americans believe the recession the US isn’t actually having is Joe Biden’s fault.
Inflation? 72% of Americans believe it’s increasing. In truth, inflation is still trending downward over the last year. And it has been trending down since the peak of 9.1% in 2022. Not only that, wage growth is ahead of prices.
Depending on a person’s circumstances, an economy certainly might feel in a recession to someone personally, or their location might be experiencing a downturn, but market data is inarguable. If stocks are up and someone thinks they’re down, it’s all about what they feel (or what they’re hearing) instead of the facts. In this instance, what they feel, or want to feel, is that things are bad.
This isn’t a Joe Biden defense or cheer fest. Doubtless, if Donald Trump were the president, many of the same people who currently think things are bad would probably think they’re great, and vice versa. Yet it is notable more than half of independents also believe the US is in a recession
Read the full “The USA” post.
This represents general information only. Before making any financial or investment decisions, I suggest you consult a financial adviser to take into account your personal investment objectives, financial situation and individual needs. Anyone looking to build a portfolio should seek financial advice to find out which strategy is right for them, if you are a high net worth investor looking financial advice then you should consider a high net worth financial adviser, they can help you identify your goals and put in place a reliable strategy to pursue them.
