October 20, 2025 Market Moment

Market Moment

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

10/20/2025

It has been three years since the current bull market began in 2022. In the nine prior bull markets since 1928 that lasted at least three years, the S&P 500 had a median fourth-year gain of 13.1%, with positive returns in eight of nine cases. *1
The private equity industry seems to be getting saturated. There are now roughly 19,000 private equity funds in the U.S.— over 5,000 more than the number of McDonald’s locations (13,658). 1
There are now more than 24 million millionaire households in the U.S., or about one in five. One-third reached that milestone in the past eight years, but most of their wealth is illiquid—about 66% tied up in homes and retirement accounts. 2
65% of Americans say the government shutdown hasn’t affected their plans for major purchases like homes or cars. Of those impacted, 17% delayed purchases, and 7% canceled them altogether. 1

*Past performance is not indicative of future performance

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This desk commentary is for informational purposes only

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