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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