Published on: May 3, 2024

NetWorth Radio Advance Report - May 6, 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 May 6, 2024.

Advance Report

Radio Show

Q: What appears to be some of the largest dangers to the U.S. economy?
A: Global geopolitical risk of conflict, U.S. Treasury debt, Expiration of tax cuts, New Tax Proposals and Aggressive regulation that could stifle innovation and corporate profits just to name a few.
Q: What are some of the current positives for the U.S. economy?
A: The Atlanta Federal Reserves’ Real GDPNow growth number for the second quarter has spiked to 3.9% as of April 26, 2024. The Artificial Intelligence (AI) Supercycle potentially delivers efficiencies and productivity that enhance corporate profits along with economic growth. Lastly, Ed Yardeni, of Yardeni Research, forecasts that the S&P 500 Index could reach 5,400 by year end.


Headline Round Up

*Investors Love Rising Dividends: Energy Transfer Hits 52-Week High!
*Eureka! Wyoming Hits the Rare-Earth Elements Motherload!
*Ford’s Electric Vehicle (EV) Division Reported Losses of $1.3 Billion in Q1 which amount to $132,000 Per Car of the 10,000 Vehicles Sold in the First Quarter. Ford projects its EV unit will have EBIT losses of $5 billion for the year. in Q1.
*Why China Keeps Making More Cars Than It Needs.
*Uh Oh! Philadelphia Based Republic First Collapses in First Bank Failure of 2024.
*26 Year Old Etsy Candle Seller Works 20 Minutes a Day & Generated $462,000 in Revenue Last Year?
*Wharton’s Professor of Finance, Jeremy Siegel, Still Sees Gains Ahead This Summer.
*Elon’s Trip to China: Tesla Stock Spikes 16% After Passing Significant Hurdle for Self-Driving Cars in China.
*Morgan Stanley Flips from Bear to Bull on EBay over EBay’s Use of Generative AI.
*Microsoft “Really in the Driver’s Seat When It Comes to AI”, Says Dan Morgan Senior Portfolio Manager at Synovus Trust Co.
*AbbVie Raises 2024 Forecast on Newer Drugs Replacing Humira Losses.


Dow Jones Industrial Average Index (12/29/2023 – 05/02/2024)

– Courtesy of Bloomberg LP

Energy Select Sector SPDR Fund, Invesco QQQ Trust Series 1 & SPDR Standard & Poor’s 500 Exchange Traded Fund Trust (12/29/2023 – 05/02/2024)

– Courtesy of Bloomberg LP

Standard & Poor’s 500 Index – Quarterly Earnings Analysis by Sector (02/16/2024 – 05/15/2024)

– Courtesy of Bloomberg LP

SPDR S&P 500 Exchanged Traded Fund (ETF) (01/01/1993 – 12/31/1999)

– Courtesy of Bloomberg LP

Bitcoin Currency Spot Price (05/04/2019 – 05/02/2024)

– Courtesy of Bloomberg LP

Peloton Interactive, Inc. (09/27/2019 – 05/02/2024)

– Courtesy of Bloomberg LP


Profit Report

Billionaire Morning Routines: Mark Cuban vs. Jeff Bezos.
Are Investors Confused Yet? The IRS’s Required Minimum Distribution Rules.


Research Round Up!

Investors are invited to improve decision making with a comprehensive tour of global economics, indicators, and actual results.
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*AllianceBernstein: AI Driven Spending Boom and Supercycle
*Recurrent Midstream White Paper: Record Cash Flow Surpluses

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