facebook twitter instagram linkedin google youtube vimeo tumblr yelp rss email podcast phone blog search brokercheck brokercheck Play Pause
June 10, 2024 Market Moment Thumbnail

June 10, 2024 Market Moment

Market Moment

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


  • The Nvidia story continues with the stock reaching $3 trillion in market value, and along with Apple and Microsoft, these companies now represent over 20% of the S&P 500. This is the highest concentration of top companies in the index since at least 1980. 1
  • US government debt held by the public rose from 76% of GDP in 2017 to 97% in December. Yields on 10-year US Treasury bonds increased from 2.4% in 2017 to 4.3%, and annual net interest payments for the federal government jumped from $263 billion to a projected $890 billion, surpassing the Defense Department budget. 2
  • Employers added 2.75 million jobs in the past 12 months, including 272,000 in May. The unemployment rate has been at or below 4% for 30 months, a rarity since the late 1960s. However, hiring rates have been declining and are close to levels last seen seven years ago. 3
  • Historically, the S&P 500 gains about 8% in presidential election years, averaging over 12% when an incumbent president runs. 19 of 23 election years (83%) provided positive performance. The market tends to rise after conventions, leading up to the November elections and year-end. *4


  1. Barrons - "Nvidia's $3 Trillion Value Shows the Power of Momentum"
  2. Bloomberg - "Trump Tax Cut Renewal Is Winning Wall Street, But Could Cost $4.6 Trillion"
  3. WSJ – “Why the Recession Still Isn't Here"
  4. Barrons – “Trump Tax Cuts Expire Next Year. Investors, Pay Attention."

*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 

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