October 7, 2024

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What do you know about holidays?

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Holidays and the economy are inextricably intertwined. Halloween, Thanksgiving, Hannukah, Christmas, Yaldā Night, Kwanzaa, Mother’s Day, Father’s Day, Lunar New Year and other celebrations give the U.S. economy a boost because people spend money to observe them. It works the other way, too. The state of the economy can affect how much consumers spend on holidays. When the economy is doing well, they typically have more to spend, and vice versa. 

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See what you know about holidays by taking this brief quiz.

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1.    Which of the following events did Americans spend the most on in 2024?
a.    Fourth of July
b.    The Super Bowl
c.    St. Patrick’s Day
d.    Father’s Day

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2.    Americans are expected to spend about $104 per person on Halloween in 2024. Some of that money will be spent on costumes. According to a National Retail Federation survey, which costume ranks in the top five for both children and pets? 
a.    Pumpkin
b.    Ghost
c.    Hot dog
d.    Superhero

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3.    In 2024, back-to-school shoppers (K-12) expected to spend the highest percentage of their budgets on which of the following categories?
a.    Shoes
b.    Electronics
c.    Classroom supplies
d.    Clothing 

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4.    A recent survey found that Gen Xers like Thanksgiving and Memorial Day holidays the best, while Baby Boomers prefer Memorial Day and Veteran’s Day. Which holidays are at the top of the list for Millennials?
a.    Thanksgiving Day and Mother’s Day
b.    Memorial Day and Veteran’s Day
c.    Christmas and Martin Luther King Day
d.    Halloween and New Year’s Eve

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Answers: 1) d; 2) b; 3) b; 4) a
 

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* This newsletter was prepared by Carson Coaching. Carson Coaching is not affiliated with the named firm.

Sources:

https://www.investopedia.com/terms/a/assetallocation.asp
https://finance.yahoo.com/quote/%5EGSPC/ (or go to https://resources.carsongroup.com/hubfs/WMC-Source/2024/10-07-24_Yahoo%20Finance_Data_2.pdf) 
https://finance.yahoo.com/news/august-stock-market-fiasco-stark-130900158.html
https://www.washingtonpost.com/business/2024/09/06/august-jobs-unemployment-labor-market/ (or go to https://resources.carsongroup.com/hubfs/WMC-Source/2024/10-07-24_Washington%20Post_August%20Jobs%20Unemployment%20Labor%20Market_4.pdf) 
https://www.reuters.com/markets/us/futures-drop-investors-brace-payrolls-data-2024-09-06/ 
https://finance.yahoo.com/news/live/stock-market-today-dow-sp-500-hit-fresh-records-to-cap-strong-september-quarter-145516820.html#
https://x.com/Markzandi/status/1840488882405614037# 
https://www.barrons.com/market-data?mod=BOL_TOPNAV (or go to https://resources.carsongroup.com/hubfs/WMC-Source/2024/10-07-24_Barrons_Data_8.pdf) 
https://www.bls.gov/news.release/empsit.nr0.htm 
https://insight.factset.com/total-nonfarm-payrolls-for-september-2024-are-projected-to-rise-by-140000 
https://home.treasury.gov/resource-center/data-chart-center/interest-rates/TextView?type=daily_treasury_yield_curve&field_tdr_date_value=2024
https://nrf.com/research-insights/holiday-data-and-trends/halloween 
https://www.goodreads.com/work/quotes/70486056-wintering-the-power-of-rest-and-retreat-in-difficult-times 
https://nrf.com/research-insights/holiday-data-and-trends/fathers-day; https://nrf.com/research-insights/holiday-data-and-trends/super-bowl; https://nrf.com/research-insights/holiday-data-and-trends/st-patricks-day; https://nrf.com/research-insights/holiday-data-and-trends/independence-day/independence-day-data-center (or go to https://resources.carsongroup.com/hubfs/WMC-Source/2024/10-07-24_NRF_Spending_14.pdf) 
https://nrf.com/media-center/press-releases/nearly-half-halloween-shoppers-start-purchasing-items-october 
https://nrf.com/media-center/press-releases/majority-back-class-shoppers-have-already-begun-purchasing-school-items 
https://today.yougov.com/ratings/entertainment/popularity/national-religious-events/millennials