June 17, 2024 Market Moment

Market Moment

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

6/17/2024

NVIDIA accounted for 35% of the increase in the S&P 500's market cap since the beginning of the year. This concentration means that if NVIDIA rises, the market is stable; if it falls, the S&P 500 could drop significantly, making investors vulnerable to fluctuations in that single stock. *1
Before the pandemic, 38% of outstanding mortgages had interest rates below 4%. Today, this figure is 63%. This indicates housing is slowly adjusting to Fed rate hikes, as many households still benefit from low pandemic-era rates. 1
Younger Americans are investing earlier. On average, Gen Z (born 1997-2012) started saving and investing at 19, while baby boomers (born 1946-1964) began at 35. Despite this early start, only 45% of Gen Zers invest, compared to 54% of millennials (born 1981-1996), 58% of Generation X (born 1965-1980), and 63% of baby boomers. 2
A study of more than 52,000 employees at 6,800 businesses found that the average distance to work increased a whopping 170% on average, from just 10 miles in 2019 to 27 miles at the end of 2023. 3

Sources:

Apollo - "Chief Economist"
Barrons – “Schwab Investing Survey: Gen Z Gets an Early Start as Confidence Rises"
MFS - "Beyond the News"

*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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