Market Moment

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

1/23/2023

  • US companies paid a record amount in dividends in 2022, which was the 13th consecutive year that dividends payments have increased. While the S&P 500 declined by 19.78% in 2022, S&P 500 dividends went up by 10.82%. That increase outpaced inflation.
  • Unlike its rivals in the tech sector Apple has avoided making big layoffs. This is because Apple increased its workforce by just 20% during the pandemic compared to Microsoft, Google, and Facebook which increased their workforce by 53%, 57%, and 94%!
  • Electric vehicles accounted for over 17% of US auto sales in 2022, up from 3.3% six years ago. Yet, EVs still only account for 1% of all vehicles on the road. Even if all future car sales were EVs, it would take nine years for EVs to replace just half the cars on US roads.
  • The U.S. unemployment rate fell to 3.5% in December, its lowest level since 1969. Despite this, more than 10 million jobs remain unfilled. Canada faces similar challenges and now plans to admit 1.4 million immigrants over the next three years to cover labor shortages. 


Dividend Growth Investor- "2022 Was a Record Year for U.S. Dividends"

WSJ- "How Apple Has So Far Avoided Layoffs: Lean Hiring, No Free Lunches"

Bloomberg- "Peak Gasoline Heralds Price Shocks for Drivers, Inflation Headaches"

Barrons- "When Goods Move but People Don't"



Economic Calendar


Monday:

 Leading economic indicators (Dec)


Tuesday:

S&P U.S. manufacturing PMI (flash) (Jan), S&P U.S. services PMI (flash) (Jan)


Wednesday:

None scheduled


Thursday:

Initial jobless claims (Jan), Continuing jobless claims (Jan), Real gross domestic product, first estimate (SAAR) (Q4), Real final sales to domestic purchasers, first estimate (SAAR) (Q4), Trade in goods (advance) (Dec), Durable goods orders (Dec), Core capital goods orders (Dec), Chicago Fed national activity index (Dec), New home sales (SAAR) (Dec)


Friday:

Real disposable incomes (SAAR) (Dec), Real consumer spending (SAAR) (Dec), PCE price index (Dec), Core PCE price index (Dec), PCE price index, year-over-year (Dec), Core PCE price index, year-over-year (Dec), UMich consumer sentiment index (late) (Jan),UMich 1-year inflation expectations (late) (Jan), UMich 5-year inflation expectations (late) (Jan), Pending home sales (Dec)


 

US Futures*

S&P 3,994.50 +0.15%

DOW 33,566 +0.27%

NASDAQ 11,696.25

+0.16%


World Markets*

FTSE 7,792.09

+0.28%

NIKKEI 26,906.04

+1.33%

HANG SENG 22,044.65

+1.82%


*values as of 9:30 AM EST 1/23/2023

 

Treasuries*

2 YR 4.217%

10YR 3.539%

30 YR 3.713%



Cryptocurrencies*

BTC-USD

22,773.73 -0.50%

ETH.CM

1,618.31 -0.04%

^CMC200

521.55 +7.31%




Currencies*

Euro $1.0854

Pound $1.2336

Yen $130.7530



Commodities*

Gold 1,924.70

-0.18%

WTI Crude 82.37

+0.89%

Silver 23.41

-2.21%



Upcoming Earnings Calls


Monday - RBB, BYSI, IBTX, SFST, BKR

Tuesday - MMM, AUB, WAL, CSBB, ONB

Wednesday - GPI, ADP, APH, T, AMP

Thursday- ALRS, ROK, AXS, AAL, LUV

Friday - BAH, ALV, AXP, DCOM, BY



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 FINRA and SIPC
This desk commentary is for informational purposes only



Carol Ann Fernandez
Rob Michel
Grier Vacek

Glen EagleWealth, LLC
4422C Route 27
PO Box 399
Kingston, NJ 08528
(609) 631-8231

Glen Eagle Wealth | www.gleneagleadv.com