April 8, 2024 Market Moment
Market Moment
Glen Eagle®: America’s Women-Owned Trading Desk®
4/8/2024
- Despite higher interest rates and a fed funds target rate above 5% only 22% of people with savings are earning above 4%. A shocking 34% of savers are still earning less than 1% on their money. 1
- March was the 5th straight month that the S&P 500 rose by 1% or more. This is only the 13th time since WWII that the market has had this many consecutive monthly increases. On every prior occurrence, the market was higher a year later with a median gain of 9.7%. *2
- Tesla’s market value peaked above $1.2 trillion last November, up more than 2,000% in a mere two years. However, this year the company is down 34% and is the worst performer in the S&P 500. 3
- In a recent survey of large and small business CFOs, 51.1% reported that their companies recently implemented automated tasks previously done by employees. 37% of those firms reported laying off employees or slowing their hiring of new employees. 4
Sources
- Bankrate
- Bespoke – “Beyond the News – BTN 4-2-24”
- WSJ – “The Inside Tale of Tesla’s Fall to Earth”
- Duke University, Richmond Fed
*Past performance is not indicative of future performance
Client Focused Trading® for large institutions, pensions, hedge funds, wealthy families, and private equity for over 30 years.
Glen Eagle Wealth, LLC is a member of FINRA and SIPC
This desk commentary is for informational purposes only
Carol Ann Fernandez, Rob Michel, Grier Vacek
(609) 631-8231
www.gleneagleadv.com
Glen Eagle Wealth, LLC | 4422C Route 27, PO Box 399, Kingston, NJ 08528-0399
#GlenEagle #MarketMoment #Newsletter #GlenEagleTrading #StockMarket #Finance