December 11, 2023 Market Moment

Market Moment

Glen Eagle®: America’s Women-Owned Trading Desk®

12/11/2023

The concentration in the S&P 500 continues to increase, and the ten largest stocks now make up 35% of the index, the highest level since the last tech bubble in 2000. 1
In a recent survey, 26% of women agreed with the statement "I don't have enough saved for retirement," compared to 19% of men. Additionally, the survey revealed a contrast in emergency savings, with women holding a median of $2,400 (vs. a median of $9,000 in savings for men). 2
Mega-cap tech stocks are heavily embracing artificial intelligence, as evident from the Q3 earnings calls of Apple, Alphabet, Amazon, Meta, Microsoft, and NVIDIA. The companies mentioned "AI" 418 times, a significant increase from just 109 mentions a year ago. 2
November marked the 16th instance since 1979 when the S&P 500, Nasdaq, and Russell 2000 all surged at least 7.5% in the same month. Historically, after the previous 15 occurrences, median returns over the next year were +13.2% (S&P 500), +16.9% (Nasdaq), and +13.1% (Russell 2000). *2

Sources

*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 FINRA and SIPC

This desk commentary is for informational purposes only

Carol Ann Fernandez

Rob Michel

Grier Vacek

Glen Eagle Wealth, LLC

4422C Route 27

PO Box 399

Kingston, NJ 08528

(609) 631-8231

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