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January 30, 2024 Investor Insights Thumbnail

January 30, 2024 Investor Insights

Investor Insights

China is Beating Tesla

January 30, 2024

Enjoy this week's "Investor Insights," a weekly newsletter highlighting the financial news you need and providing tips and tricks to help you make better investment decisions. 

  • China became a global leader in the electric vehicle (EV) market, producing more EVs than the rest of the world combined. Chinese-owned company BYD now controls 35% of the market by volume with Tesla which controls 8%, at a distant second. 1
  • The new spot bitcoin ETFs attracted approximately $1.9 billion in their first three days of trading following SEC approval. For comparison, this exceeded the nearly $800 billion that flowed into the SPDR Gold ETF (GLD) at its launch in 2004. 2
  • Before the pandemic, there were over 41,000 gyms in the US. Today there are only around 31,000. Despite challenges from weight loss drugs such as Ozempic, surviving gym companies like Planet Fitness have continued to grow their revenue. 3
  • The stock market’s reaction to the Federal Reserve’s interest rate cuts has been mixed over time. After rate cuts in 1989, 1995, and 1998, the S&P 500 grew an average of 20% over the following year. Yet, interest rate cuts after 2000 led to an average decline of 5%. 4*

Sources

  1. Barrons - "China Has a New Crackdown Target: EVs"
  2. MFS - "Beyond the News"
  3. WSJ - "These Gyms Survived the Pandemic. They’re Still Sweating."
  4. Barrons - "How Rate Cuts Affect the Stock Market Depends on This One Thing"

*Past performance is not indicative of future performance

Disclosure: This information is furnished for the use of Glen Eagle Advisors, LLC, Glen Eagle Wealth, LLC, and their clients and/or contacts. It does not constitute the provision of investment advice to any person. It is not prepared with respect to the specific objectives, financial situation, or particular needs of any specific person. Investors reading this commentary should consult with their Glen Eagle representative/financial advisor regarding the appropriateness of investing in any securities or adapting any investment strategies discussed or recommended in this newsletter.

Glen Eagle Wealth, LLC is a member of FINRA, MSRB and SIPC 

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