July 29, 2024 Market Moment

Market Moment

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

7/29/2024

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

*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

#GlenEagle #MarketMoment #Newsletter #GlenEagleTrading #StockMarket #Finance