March 25, 2024 Market Moment
Market Moment
Glen Eagle®: America’s Women-Owned Trading Desk®
3/25/2024
- A new report found that 47% of parents with a child older than 18 provide them with some form of financial support, averaging roughly $1,384 a month. 58% of parents said supporting their adult children was a sacrifice to their own financial security. 1
- California’s share of US wine production has dropped from 90% in the 1990s to below 80% today. Harsher weather and higher labor costs are two culprits. The average weekly wage at California wineries is $1,372 compared to just $656 at non-California wineries. 2
- The S&P 500 surged 8.3% over the first 50 trading days of the year, marking the 14th instance since 1953 of a 7.5% rally to start the year. Historically, in such years, the median rest-of-year gain for the index was 7.7%, with positive returns 92% of the time. *3
- 50.8% of NVDA revenue comes from just 6 companies: Microsoft, Meta, Amazon, Alphabet, Dell, and Super Micro Computers, 4 of which are in the top 10 stocks in the S&P 500. 4
Sources
- Bespoke - “Stat of the Day”
- Bloomberg – "Who Will Save the US Wine Industry? Not California Boomers”
- MFS - “Beyond the News”
- Bloomberg - "Barclays Research"
*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.
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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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