What a wild ride it has been in the stock market this past week, post BREXIT 2016, with the S&P 500 dropping nearly 5.32% in two trading days, only then to rally back 5.10% through mid-afternoon today. Truly a textbook lesson of why not to panic sell your portfolio. And now that this “crisis” is behind us and our nerves have calmed, we can focus on what’s really important – celebrating our own BREXIT of 1776 (240 years ago) - also known as ‘Independence Day’ or ‘4th of July.’
As we often do around the holidays, we decided to keep this week’s blog post light (although still financially related) with some fun facts about how many of us will celebrate our own independence.
Five Fun Financial Facts about the 4th of July
1. The U.S. spent $3.5 million on importing American flags from China for July 4, 2014.
2. U.S. retailers sold fireworks worth $369.4 million in 2014
3. Americans will spend an estimated $6.8 billion on food for the July 4 holiday weekend in 2016.
4. A toast to America! More than 68 million cases of beer will be sold over the July 4 holiday.
5. Joey Chestnut holds the all-time Nathan's Hot Dog Eating Contest record, which he set 7/4/2013 by taking down 69 hot dogs in ten minutes (only in America)