February 12, 2024 Market Moment

Market Moment

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

2/12/2024

Large corporations are increasingly using layoffs as a standard operating practice that can be used even when there is no recession. An astounding 58% of the Fortune 100 companies announced layoffs last year and another 5% announced job cuts in the first month of 2024. 1
A recent survey found that 46% of American adults and 58% of people earning more than $150,000 per year would pass on debt to their loved ones if they died today. Of those who said their loved ones would inherit their debts if they died, 21% had no life insurance. 2
This January the stock market rose 1.6%. Since WWII, when the S&P 500 has risen by at least 1.5% in January, its median yearly performance has been a 13.4% gain, with positive returns 82.5% of the time. *2
Used car prices have fallen 21% from their all-time high in December 2021, and data shows that the value of a used Tesla has dropped 49% from a high of $67,900 in July 2022 to $34,883.

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 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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