Hello Eagle Wealth Community,

Lately, "inflation" seems to be the media's favorite word.  Everywhere you turn, there's another story about the impact of inflation.  Some news outlets have reported that confectionary prices have surged over 30% from last year's Halloween.

If we break down some of our favorite candy, the news isn't sweet.  According to the U.S. Bureau of Labor Statistics, prices for peanut butter are nearly 9 percent higher compared to 2021.  And cocoa, chocolate's main ingredient, has also risen by more than 9 percent since December. ^{1, 2}

However, although current inflationary pressures are nothing to joke about, some seasonal signs of hope are on the horizon.

Consumer confidence remains high despite the squeeze we're all feeling. Goblins and ghouls will collectively spend $3.1 billion on candy alone, outpacing last year's spending of about $3 billion.  What does this suggest to us? Consumers, the driving force of our economy, are confident despite the many financial challenges they currently face.³

So tonight, remember that whether you're handing out the sweetest of treats or helping your little ones hunt for full-sized candy bars, our confidence in one another and our nation will carry us through these uncertain times.

Have a happy (and safe) Halloween,
Your Eagle Wealth Team

Pumpkin Pie Brownies

Tonight may be all about the candy for kids but if you’re looking for a delectable treat these pumpkin brownies are for you! 

12 servings
 
Ingredients:

• 18 ounces brownie mix, (Ghirardelli recommended)
• ¼ cup water
• ⅓ cup vegetable oil
• 1 large egg 
• ½ cup semisweet chocolate chips

For the Pumpkin Layer

• 7.5 ounces pumpkin puree (½ can) – NOT pumpkin pie filling
• 6 ounces cream cheese (¾ brick), room temperature 
• 3 tablespoons granulated sugar 
• 1 tablespoon pumpkin pie spice 

 Directions:

1. Preheat oven according to box mix (325°F for Ghirardelli).  Spray an 8×8-inch baking pan with nonstick spray.  Set aside.
2. In a medium bowl, make the brownie mix according to the directions on the box. Add the chocolate chips to the brownie mix and set aside.
3. 18 ounces brownie mix,¼ cup water,⅓ cup vegetable oil,1 large egg,½ cup semisweet chocolate chips
4. In a medium bowl, mix the pumpkin, cream cheese, sugar, and pumpkin pie spice together until very smooth.
5. 7.5 ounces pumpkin puree, 6 ounces cream cheese, 3 tablespoons granulated sugar, 1 tablespoon pumpkin pie spice.
6. Pour half of the brownie mix into the prepared pan and spread out so the entire bottom of the pan is covered.
7. Spoon the pumpkin filling onto the brownie batter in chunks or spread it out evenly, then cover the pumpkin with the rest of the brownie batter and smooth out the top.

Recipe adapted from the Cookie Rookie
 

The Week on Wall Street

Stocks overcame poor earnings results from some of America’s largest companies to post gains last week as investors cheered positive earnings surprises, easing inflation and a rebound in economic growth.

The Dow Jones Industrial Average rose 5.72%, while the Standard & Poor’s 500 advanced 3.95%. The Nasdaq Composite index added 2.24% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, gained 4.89%.^1,2,3

A "Spook-Tacular" Week

Some mega-cap technology companies were under pressure last week on weak earnings and tepid fourth-quarter guidance. They reported multiple headwinds, including declining advertising revenues, loose expense control, and a slowdown in cloud growth. 

Meanwhile, positive earnings surprises from “old economy” companies powered markets higher. This market bifurcation was evident in the divergence in the performance of the Dow Industrials and the Nasdaq. The S&P 500 posted a substantial gain despite its disproportionate weighting of mega-cap stocks, which helped illustrate the power of the rally. Momentum accelerated into Friday, aided by an easing in inflation and a solid third-quarter Gross Domestic Product (GDP) report.

Economic Growth Exceeds Expectations

After two straight quarters of negative economic growth, the initial estimate of the third quarter’s GDP came in at a solid 2.6%, exceeding economists’ 2.3% estimate. The surprising economic performance was largely attributable to an increase in exports, which narrowed the trade deficit, a development that may not repeat going forward.⁴

Particularly encouraging was the personal consumption expenditure price index, a report used by the Fed to track inflation. It increased 4.2%, well below the 7.3% jump from a quarter ago.⁵