February 26, Market Moment
Market Moment
Glen Eagle®: America’s Women-Owned Trading Desk®
2/26/2024
- Today Amazon replaces Walgreens Boots Alliance in the Dow index. This may not be good for the stock however since analysis shows that stocks added to the Dow since 2000 have, on average, underperformed the S&P 500 by 13.83% in the following year. *1
- Nvidia's market value skyrocketed from $600 billion to $2 trillion in a year, making it the third most valuable U.S. company. The company now generates revenue of $22.1 billion compared to just $6.0 billion last year. 2
- Over the past year automobile maintenance and repair costs increased 6.5% and insurance costs skyrocketed 20.6%. It now costs an average of $12,182 annually to own and operate a new car. 3
- January's Consumer Price Index (CPI) came in higher than expected on nearly every metric, but there was a silver lining. Core CPI declined for the tenth consecutive month, dropping to 3.87% from a peak of 5.56% in April 2023, a pattern not seen since March-December 1975. 3
Sources
- Barrons - "Amazon Stock Joins the Dow Club. It Could Pay a Price."
- WSJ - "The Meteoric Rise of Nvidia, in Five Charts."
- 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.
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
#GlenEagle #MarketMoment #Newsletter #GlenEagleTrading #StockMarket #Finance