September 3, 2024 Market Moment

Market Moment

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

9/3/2024

Parents spent 24% of their income on childcare last year, up from 7% in the 1980s. In most of the U.S., childcare now costs more annually than in-state tuition at public universities. 1
Since 1980, the cost of a four-year college has jumped nearly 170%, while inflation-adjusted median earnings for bachelor’s degree holders rose just 25%. In 1996, only 31% of parents saw funding a child’s education as their responsibility, but last year, 77% used their income and savings for college costs. 1
Global spending on AI and AI-enabled tech is expected to exceed $630 billion by 2028, with a 29% annual growth rate. Top growth areas include augmented claims processing (35.8% growth) and digital commerce (33.2% growth). 2
The S&P 500 has hit 38 record highs this year. Despite the pullback in August, stocks are nearing highs again, sparking concerns of a potential correction, as a 10% or greater drop has happened at least once a year since the 1930s. *3

Barrons - "The Price of Parenthood Is Growing Prohibitive. That’s Bad News for the Economy."
MFS - "Beyond the News"
WSJ- "Markets' Summer Vacation Is Over"

*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.

Glen Eagle Wealth, LLC is a member of FINRA and SIPC

This desk commentary is for informational purposes only

Carol Ann Fernandez, Rob Michel, Grier Vacek

(609) 631-8231

www.gleneagleadv.com

Glen Eagle Wealth, LLC | 4422C Route 27, PO Box 399, Kingston, NJ 08528-0399

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