August 26, 2024 Market Moment
Market Moment
Glen Eagle®: America’s Women-Owned Trading Desk®
8/26/2024
- Nearly half of workers plan to claim Social Security benefits before reaching full eligibility due to fears of the program running out of money or needing funds. The most popular ages to file are 65 (23%) and 62 (12%). Only 10% plan to wait until age 70 to receive the maximum benefit. 1
- Over the past decade, 48% of the S&P 500's market value gain came from the "Magnificent Seven" stocks (excluding Tesla, which joined in 2020). In 2024, including Tesla, these stocks have accounted for 52.5% of the gain. *2
- On average, Americans now believe it takes a net worth of $2.5 million to be considered wealthy, up 14% from last year's $2.2 million. This increase reflects both the rising cost of living and shifting perceptions of wealth. 3
- Alphabet (formerly Google) went public 20 years ago today. Its shares have risen over 7,500% since then. Only 11 other S&P 500 stocks have outperformed Alphabet since its IPO. *4
- Barrons - "There’s a Good Case for Waiting to Claim Social Security"
- Barrons- "BofA’s 15 Stocks for the End of the AI Trade"
- Bloomberg - "Evening Briefing"
- Bespoke - "8 Days of Gains, GOOGL Turns 20"
*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
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