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September 19, 2023 Investor Insights Thumbnail

September 19, 2023 Investor Insights


Tesla Benefits from Strike

September 19, 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 10 largest companies in the S&P 500 now make up an astounding 34% of the index. These 10 mega-cap companies have an average price-to-earnings (P/E) ratio of 50x, which is significantly higher than the overall market. 1
  • For the first time since 2003, monthly imports from Mexico into the US exceeded imports from China on a 12-month average. Imports from China have accounted for just 14.43% of total imports over the last 12 months compared to 14.84% from Mexico. 2
  • 15 years have passed since the Lehman Brothers went bankrupt. From the close on the Friday before Lehman filed for bankruptcy (9/12/08) to the stock market low on 3/9/09, the S&P 500 declined 46%. Despite that, the S&P 500's total return in the 15 years since that Friday is 380.8%. 2
  • A United Auto Workers strike has begun amongst General Motors, Ford, and Stellantis, and is expected to further increase Tesla’s market advantage. Tesla pays its non-union workers an average of $45 an hour compared to $66 an hour for the striking union workers (before any salary increases). 3


  1. Apollo - "The Daily Spark"
  2. Bespoke - "Stat Sheet"
  3. WSJ - "Whatever the UAW Strike Outcome, Elon Musk Has Already Won"

*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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