October 14, 2024 Market Moment

Market Moment

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

10/14/2024

The S&P 500 is now 50 times larger than it was in 1982. Yet, the market composition has changed substantially since then. For example, at the end of 1980, energy stocks dominated the market, with seven of the top 10 stocks coming from the oil and gas sector. 1
40.3% of U.S. adults are now classified as being obese, up from about 30% in 2000 but down from a peak of 41.9% in 2020. This is the first time since 2011 that America's obesity rate has declined, and snack food companies share prices are being impacted by the fear that Americans may be eating less. 2
October is historically better for the stock market than September, but it is also the most volatile month. Since 1945, October has had the largest average peak-to-trough decline (-4.6%) and the most 5%+ drawdowns for the S&P 500. *3
The wars in Ukraine and Israel have had little impact on the oil market. Russia and Iran, which produce over 10% of the world’s oil, have maintained or increased production. In fact, oil prices are still down about 10% since Hamas attacked Israel a year ago. 4

Barrons - "S&P 500 Tops $50 Trillion. It’s Now Worth 50 Times Its Value When the Bull Market Began in 1982."
Barrons - "Snack Slump Hits Big Food. Blame Prices, Not Obesity Meds."
MFS - "Beyond the News"
Barrons- "Oil’s ‘War Premium’ Is Back. Can Prices Top $100?"

*Past performance is not indicative of future performance

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This desk commentary is for informational purposes only

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