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September 25, 2023 Market Moment Thumbnail

September 25, 2023 Market Moment


Market Moment

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


  • In 2023, the 7 largest S&P 500 stocks have surged over 50%, while the other 493 stocks have remained mostly flat. Buying the S&P 500 today means investing heavily in these top companies, comprising 34% of the index. 1
  • As of June, 24% of office space in 18 major Chinese cities sat vacant. This is a worse situation than in the U.S., where office vacancy rates reached a 30-year high of 18.2% in June. 2
  • Small-cap and industrial stocks in the U.S. are declining, often a sign of an impending recession. The S&P 500 Industrials Index has dropped around 8% since its peak and the Russell 2000 Index has fallen over 11% from its July 31st high. 3
  • U.S. spending on medications is up 16% since 2016. New obesity medications have helped to drive the total U.S. prescription expenditures up from 520 billion in 2016 to 603 billion in 2021. 4


  1. Apollo- "S&P493 is Basically Flat this Year"
  2. WSJ- "Thought the U.S. Office Market Was Bad? Try China"
  3. Barrons - "Stocks Flash Recession Warning as Trouble Spreads to Industrials"
  4. Barrons - "How Ozempic and Wegovy Could Break the Healthcare System"

*Past performance is not indicative of future performance

Client Focused Trading® for large institutions, pensions, hedge funds, wealthy families, and private equity for over 30 years.

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This desk commentary is for informational purposes only

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