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January 30, 2024 Market Moment Thumbnail

January 30, 2024 Market Moment

Market Moment

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


  • 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*


  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

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 


Glen Eagle Wealth, LLC | 4422C Route 27, PO Box 399, Kingston, NJ 08528-0399 

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