June 23, 2025 Market Moment

Market Moment

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

6/23/2025

The S&P 500 has now surged over 20% in just two months—only for the sixth time in 70 years. After each of the last five occurrences, the index increased by an average of 31% over the following year. *1
The U.S. now produces over 20% of the world’s oil—double that of Saudi Arabia or Russia (around 10% each). Driven by fracking, output has jumped from 7.4 million barrels per day 20 years ago to a record 20.8 million in March. 2
In 2024, 61.4% of Google’s revenue came from internet search. If AI cuts that in half over the next three years, Google’s other businesses—like Waymo and YouTube—would need to grow revenue by 79.5% just to offset the loss. 3
In 2024, just 20.9% of the S&P 500 was comprised of traditionally defensive stock sectors, such as Healthcare, Utilities, Energy, and Consumer Staples—down from nearly 50% during the 2008–2009 crisis. That’s the lowest level in 35 years. 4

MFS- "Beyond the News"
Bloomberg - "US Enjoys a Rare Moment of Oil Supremacy in Iran"
Barrons - "Can Google Survive Without Search?
The Irrelevant Investor - "The Compound and Friends: Why Defensive Stocks Have Disappeared"

*Past performance is not indicative of future performance

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This desk commentary is for informational purposes only

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