October 16, 2023 Investor Insights
A Social Security Raise
October 16, 2023
Enjoy this week's "Investor Insights," a weekly newsletter highlighting the financial news you need and providing tips and tricks to help you make better investment decisions.
- The US Bond Index has historically been viewed by investors as a more conservative investment. After dropping 13.9% in 2022, the bond index is down another 5.4% in 2023. Prior to 2022, the biggest one-year decline seen in the index since 1976 was just 3.92% in 1981. *1
- The utilities sector represents just 2.3% of the S&P 500, which is its lowest weighting since April 2000. The sector's entire combined market cap of about $830 billion is equal to roughly one-third of Apple's $2.7 trillion market cap. 1
- A new poll shows that Americans have strong preferences for which automakers they would purchase an electric vehicle from. Nearly 30% would most likely consider Toyota (TM) as their top choice for an electric vehicle, followed by Tesla (TSLA) at 23%. 2
- Social Security recipients will get a 3.2% raise in 2024, above the 2.6% average over the past 20 years but less than the 8.7% increase this year. 3
Sources:
- MFS - "Beyond the News"
- Yahoo Finance - "IPSOS Poll of 1,025 US Adults"
- Barrons - "Here’s How Much Social Security Benefits Will Rise in 2024"
*Past performance is not indicative of future performance
Disclosure: This information is furnished for the use of Glen Eagle Advisors, LLC, Glen Eagle Wealth, LLC, and their clients and/or contacts. It does not constitute the provision of investment advice to any person. It is not prepared with respect to the specific objectives, financial situation, or particular needs of any specific person. Investors reading this commentary should consult with their Glen Eagle representative/financial advisor regarding the appropriateness of investing in any securities or adapting any investment strategies discussed or recommended in this newsletter.
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