Published on: June 21, 2024

NetWorth Radio Advance Report - June 24, 2024

In this NetWorth Radio Advance Report, Spencer McGowan, President of McGowanGroup Asset Management, delivers financial news and intelligence with insights you can act on for June 24, 2024.

Advance Report

Radio Show

Q: Could long U.S. Treasury bond rates spike as short U.S. Treasury bond rates fall?
A: To reverse the inversion of the yield curve back to a more normal reward for duration risk, long rates would have to rise as the Federal Reserve (Fed) lowers the overnight bank lending rate.
Q: What happens to the net present value of the stock market under net proposed corporate tax rules?
A: A potential reduction in the value of future S&P 500 Index net earnings of 25%. Currently, Democrats propose raising corporate tax rates to 28% from 21% and Republicans discuss maintaining or lowering the 21% rate.


Headline Round Up

*Soaring U.S. Debt Estimates With a Huge Increase Since This Past February?
*Microsoft’s Artificial Intelligence (AI) Empire. OpenAI Was Just the First Step.
*Condo Insurance Soars in California Pushing Median Condo Association Dues to $480 Per Month.
*Nvidia Will Get a 20% Weighting in the Technology Sector SPDR Fund, XLK. “Thin market”?
*Chief Economist at New Century Advisors, Claudia Sahm, Says Fed is “Playing with Fire” by Not Cutting Interest Rates.
*Another New Tax? Underpayment Penalties for Quarterly Tax Filers Nearly Quadrupled in 2023 to $7 Billion.
*Goldman Economist, Jan Hatzius, Expects Interest Rate Cuts in September and December.
*New Home Construction Slows in May to Four Year Low.
*MicroStrategy Inc.’s Bitcoin Strategy: $800 Million More Debt to Buy Bitcoin? They now hold over 226,000 Bitcoin with a value of about $14.9 Billion which is up 600% since they began purchasing it.
*Bill Gates Ready to Put Billions in Nuclear Power.
*Solar Growing Faster than Any Electricity Source as Big Tech Seeks Clean Energy for Data Centers.
*Fisher Investments Founder and Owner, Ken Fisher, Cashing Out $2.5 Billion Following Minority Stake Sale.
*Electric Vehicle (EV) Slowdown Gets Real Says’s Irina Slav.
*EV Makers Target a $25,000 Car for the U.S. as High-End Growth Slows.
Mergers and Acquisitions
*Honeywell Buys Aerospace and Defense Technology Company CAES Systems for $2 Billion.
Skid Row
*EV Maker Fisker Files for Bankruptcy.


SPDR Dow Jones Industrial Average Exchange Traded Fund (ETF) Trust (12/29/2023 – 06/21/2024)

– Courtesy of Bloomberg LP

Invesco QQQ Trust Series 1 & SPDR S&P 500 Exchange Traded Fund (ETF) Trust (12/29/2023 – 06/21/2024)

– Courtesy of Bloomberg LP

C.B.O.E. 30 Year Treasury Bond Yield Index, 10 Year Treasury Note Yield Index & Short-Term Interest Rate Index (06/23/2019 – 06/21/2024)

– Courtesy of Bloomberg LP

NVIDIA Corp. (12/29/2023 – 06/21/2024)

– Courtesy of Bloomberg LP

Generic Crude Oil Futures Spot Price (06/23/2019 – 06/24/2024)

– Courtesy of Bloomberg LP

U.S. New York Federal Equifax Transition – Serious Delinquency 90+ Days For Auto Loans by Age Index (06/22/2019 – 03/31/2024)

– Courtesy of Bloomberg LP

U.S. Treasury Federal Budget Debt Summary – Deficit or Surplus, Non-Seasonally Adjusted Index (06/20/2021 – 05/31/2024)

– Courtesy of Bloomberg LP


Profit Report

Tax Efficient Giving Strategies:
1. Direct donations of highly appreciated stock?
2. Qualified Charitable Distributions (QCDs) from IRA’s?
3. Donor Advised Funds?


Research Round Up!

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*Cohen and Steers: Expectations for the Decade Ahead.
*AllianceBernstein: AI Driven Spending Boom and Supercycle
*Recurrent Midstream White Paper: Record Cash Flow Surpluses

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