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August 14, 2023 Investor Insights Thumbnail

August 14, 2023 Investor Insights

American Pessimism

August 14, 2023

Enjoy this week's "Investor Insights," a weekly newsletter highlighting the financial news you need and providing tips and tricks to help you make better investment decisions. 

  • A recent Reuters survey shows that 73% of Americans believe the economy is worse than it was five years ago. Additionally, about 2 in 5 people feel personally worse off than they did five years ago. 1
  • The average American credit card balance is at a new record of $7,300, while the median household savings are at just $5,300. Delinquency rates have risen for 6 consecutive quarters, the longest streak since 2008. 2
  • Since 1928, the S&P 500 has seen 55 years with annual gains of over 10%. Of those, 23 years experienced corrections of 10% or worse within the same year, showing that almost half of the years with 20%+ stock market gains include significant corrections.* 3
  • 71.9% of all US consumers reported visiting Walmart in the last month (compared to 50% five years ago). The growing trend transcends income levels, with 74% of consumers earning under $50k and 56% of those earning over $200k visiting Walmart. 4

  1. Reuters - "Reuters/Ipsos Survey: Perceptions of the economy impact Biden's approval and chances in 2024"
  2. The Irrelevant Investor - "Animal Spirits: Do Valuations Matter?"
  3. A Wealth of Common Sense - "Even When the Stock Market Goes Up it Still Goes Down"
  4. MFS - "Beyond the News"

*Past performance is not indicative of future performance

Disclosure: This information is furnished for the use of Glen Eagle Advisors, LLC, Glen Eagle Wealth, LLC, and their clients and/or contacts. It does not constitute the provision of investment advice to any person. It is not prepared with respect to the specific objectives, financial situation, or particular needs of any specific person. Investors reading this commentary should consult with their Glen Eagle representative/financial advisor regarding the appropriateness of investing in any securities or adapting any investment strategies discussed or recommended in this newsletter.

Glen Eagle Wealth, LLC is a member of FINRA, MSRB and SIPC

Glen Eagle Advisors, LLC is a SEC Registered Investment Advisor

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