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July 29, 2024 Investor Insights Thumbnail

July 29, 2024 Investor Insights

Investor Insights

Wealth of $500K

July 29, 2024

Enjoy this week's "Investor Insights," a weekly newsletter that highlights the financial news you need and provides tips and tricks for making better investment decisions. 

 

  • A University of Michigan survey shows that a record 30% of Americans own stocks worth over $500,000, and 37% own homes worth more than $500,000. These gains occurred despite rising interest rates, which boosted consumer spending significantly. 1
  • Credit card delinquencies hit a 12-year high, with 2.6% of balances 60 days past due at the end of the first quarter of this year, up from 1.1% in 2021. Balances 30 and 90 days past due also rose to their highest levels since 2012. 2
  • Historically, the three months following July 14th are the weakest for the S&P 500, with a median decline of 2.5% over the past 25 years and positive returns only half the time. *3
  • Last year, Google and Microsoft each used 24 TWh of electricity, surpassing the annual energy consumption of 100 countries, including Jordan, Iceland, Ghana, and the Dominican Republic. This is unlikely to decrease as they continue investing in AI. 3

Sources:

  1. Apollo - "Academy"
  2. Bloomberg - "Big Stock Selloff"
  3. MFS - "Beyond the News"

*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 

Glen Eagle Advisors, LLC is a SEC Registered Investment Advisor 

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