January 6, 2025 Market Moment

Market Moment

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

1/6/2025

• In 2024, the "Magnificent Seven" (Apple, Nvidia, Microsoft, Google, Amazon, Tesla, and Meta) grew by 65% and was responsible for 57% of the S&P 500's gain. This was a decrease from 2023 when they soared 111% and made up 65% of the S&P's gain. *1
• Breakfast meals have become more expensive lately. One culprit is the price of eggs. The price per dozen eggs is now $5.77, up 146.6% from 2023.  A recent outbreak of Avian flu reduced the laying hen population by 3% (or 10 million hens). 2
• Despite a 6.1% stock drop last week, Tesla is now worth $1.2 trillion, more than the next 20 largest automakers combined! Tesla's shares trade at 117 times projected earnings, significantly higher than Nvidia and other tech giants. *3
• 17.6% (or 3.7 million BTC) of the entire supply of Bitcoin is estimated to be lost. This is a significant portion of Bitcoin, which is likely inaccessible due to lost keys or forgotten wallets. 4

1. Barrons - "Tech Stocks Top the Indexes Again, With One Mag 7 Caveat"
2. WSJ- "Why Breakfast Is Busting Your Food Budget"
3. WSJ - "Tesla’s Car Business Isn’t Really in the Driver’s Seat"
4. The Irrelevant Investor - "The Compound and Friends: Why Brian Wesbury is Bearish"

*Past performance is not indicative of future performance

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This desk commentary is for informational purposes only 

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