
July 15, 2024 Market Moment
Market Moment
Glen Eagle®: America’s Women-Owned Trading Desk®
7/15/2024
- The average share of 401(k) plans allocated to stocks has reached 72%, its highest level since January 2001, during the dot-com bubble. 1
- Although the US population is aging, it is younger than some other developed nations. The median age in the US is 38 years whereas the median age in Japan and Italy is 50 and 48, respectively. This difference should impact economic growth over time. 2
- Due to the pandemic, TSA passenger screenings at US airports dropped from over 2 million to less than 125,000 daily. This month, however, the TSA screened over 3 million passengers for the first time in history. This indicates US consumers may not be feeling the negative impact of higher interest rates yet. 3
- Tesla's market share in the US electric vehicle market has fallen below 50% for the first time. In the second quarter, Tesla sold around 164,000 EVs in the US, down about 6% from the same period last year. Its market share declined to 49.7% from 59.4% a year ago. 4
- Barrons - "Worried About Nvidia’s Grip on the Stock Market? Here Are 3 Moves to Make Now."
- Apollo Chief Economist - "Median Age of the Population in the G7"
- Bespoke- "Airline Stocks in a Holding Pattern; Stock Market Camp!"
- Barrons - "Tesla’s Market Share Is Below 50%. Here’s the Upside."
*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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