November 27, 2023 Market Moment

Market Moment

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

11/27/2023

Ten years ago, Apple, Microsoft, Alphabet, and Amazon, the four largest publicly traded US companies, had a combined market cap of $1.3 trillion. Today, all four have market caps exceeding $1.3 trillion, and their share in the S&P 500 has surged from 7.7% to 22.2%. 1

According to a Deloitte survey, people plan to spend an average of $1,652 this holiday season, compared to $1,455 last year, indicating a potential increase in spending. 2

Since 1950, the S&P 500 has risen 70% of the time from Thanksgiving to New Year's Eve, averaging a 1.7% gain. This year the market was up 8.1% in the month before Thanksgiving, its best performance since 1999. *3

There is a rapidly growing number of Americans who own their homes outright. The percentage of mortgage-free homes in the US increased by 5 points from 2012 to 2022, reaching almost 40%, with over half owned by retirees. 4

MFS- "Beyond the News"

WSJ - "American Shoppers Have Plenty of Dry Powder"

Barrons - "The Stock Market Had a Wonderful Thanksgiving. Now It’s Time to Celebrate Christmas."

Bloomberg - "The Share of Americans Who Are Mortgage-Free Is at an All-Time High"

*Past performance is not indicative of future performance