Spotlight

Market Update | July 22

Jon Granston | July 22, 2025

Filtering through this weeks headlines...

Top Headlines: Delivered by Advisory | Leonard Steinberg

July 22, 2025

01 Many people move to large cities to build careers.

Then when retirement age comes along often they move to a cheaper and/or warmer area, or to be closer to family. Some move to lower taxed areas. Many retirees are moving out of New York City, Los Angeles, Washington D.C., Denver, San Jose, San Diego, Chicago, Oakland, Anchorage, Arlington, etc because of higher costs. These cities experienced the highest net loss of residents aged 60 and over in 2023.

(CNBC)

02 It always seems impossible until it’s done.

– Nelson Mandela

03 San Diego Comic-Con 2025

From July 24–27, the San Diego Convention Center transforms into a pop culture paradise. While badges are sold out, the Gaslamp Quarter buzzes with free offsite events like the Malibu Barbie Café featuring a roller-skating rink and themed bar crawls.

(EATER SAN DIEGO)

04 The surf conditions are generally mild, with wave heights ranging from 1 to 3 feet, and sets reaching up to 4 feet. The rip current risk is low, making it suitable for surfers of all skill levels. Water temperatures are comfortable, ranging between 63°F and 71°F. No thunderstorms are expected, ensuring a pleasant surfing experience.

(Surf Forecast)

05 These are the top 10 most expensive cities for high-net-worth individuals globally from the Julius Baer Lifestyle Index, which looks at the relative cost of 20 goods and services that affluent consumers across 25 major cities globally buy and use such as cars, jewelry, lawyers and private schools.

Singapore

London

Hong Kong

Monaco

Zurich

Shanghai

Dubai

New York

Paris

Milan

06 Several US banks are doing very well:

Goldman Sachs 2nd-quarter profit jumped 22% from a year earlier to $3.72 billion and revenue climbed 15% to $14.58 billion, roughly $1.1 billion more than the estimate. J.P. Morgan Chase’s trading revenues were up 15% too. Market volatility makes many nauseous.... but it can be very profitable via buy-the-dip strategies!

(CNBC)

PHOTO CREDIT: Eater San Diego

07 Bosforo, located in Normal Heights, is Southern California’s first full-scale Meyhane-style restaurant, offering an elevated experience that combines rich, wood-fired kebabs and Anatolian-style pizzas.

The menu showcases the bold flavors of traditional Turkish cuisine, crafted with a modern twist. The space itself is equally impressive, with a design-forward atmosphere that reflects both warmth and sophistication. With its innovative take on classic dishes and inviting ambiance, Bosforo provides a unique dining destination for those seeking both authentic flavors and a memorable experience.