August 14, 2023 Market Moment
Market Moment
Glen Eagle®: America’s Women-Owned Trading Desk®
8/14/2023
- 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
Sources
- Reuters - "Reuters/Ipsos Survey: Perceptions of the economy impact Biden's approval and chances in 2024"
- The Irrelevant Investor - "Animal Spirits: Do Valuations Matter?"
- A Wealth of Common Sense- "Even When the Stock Market Goes Up it Still Goes Down"
- MFS - "Beyond the News"
*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.
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This desk commentary is for informational purposes only
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