May 4, 2026 Market Moment

Market Moment

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

5/4/2026

Retail stock ownership rebounded to 62% of Americans in 2025, near pre-2007 highs. Despite this broader participation, the wealthiest 10% of Americans still own 87% of equities, and the wealthiest 1% own close to 50%. 1
The S&P 500 posted its best April since 2020, with the index up ~10% for the month and the Nasdaq up ~15%. Recently, May has also been a good month for the market, with the S&P 500 rising in May 12 times over the past 13 years. *2
Despite recent increases, inflation-adjusted U.S. gas prices are still around 1990 levels. Additionally, US household energy spending has fallen to just ~3.4% of disposable income, down from as high as 8% in the 1980s. 3
A recent survey shows that financial stress extends well beyond lower-income earners. 41% of households making $300K-$500K and 40% of households earning over $500K self-reported living paycheck to paycheck. 4

Barron’s – “Retail Investors Keep Getting Burned in the Stock Market. They’re Piling In Again Now.”
Barron’s – “The S&P 500 Just Had Its Best Month Since 2020. Don’t Let ‘Sell in May’ Spook You.”
A Wealth of Common Sense – “Higher Gas Prices”
Goldman Sachs Asset Management – “New Economics of Retirement: Retirement Survey & Insights Report 2025”

*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

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