May 13, 2024 Market Moment

Market Moment

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

5/13/2024

The number of public companies in the United States declined by over 40%, from 8,000 in 1996 to 4,642 in 2022. The main culprits were mergers and acquisitions; Alphabet and Microsoft acquired more than 500 companies alone. 1

In 2023, a survey found that 78% of Americans live paycheck-to-paycheck, up six percentage points from the previous year. Another survey discovered that 29% of Americans don't earn enough to cover basic living costs. 1

The ratio of job openings to unemployed workers, which reached a level of two-to-one in 2022, has fallen to 1.3, as reported in the monthly Job Openings and Labor Turnover Survey (JOLTS). This level aligns more closely with pre-pandemic norms. 1

The Dow index weighs stocks by share prices, not market value like other indexes. This means that UnitedHealth and Goldman Sachs, the 15th and 63rd largest companies in the country, have more influence on the Dow index than Microsoft, Apple, and Amazon combined. 2

Sources:

MFS – “Beyond the News"
WSJ – “The Dow Is a Terrible Index. But It Is Telling Us Something Important."

*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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