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Market Moment
Glen Eagle®: America’s Women-Owned Trading Desk®
3/5/2024
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Breaking into the top 1% of wealth in the US is becoming more challenging. Individuals now would require at least $5.8 million to join, nearly 15% higher than the previous year. 1
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$100K invested 30 years ago would have very different values on an inflation-adjusted basis depending on where it was placed. A cash investment would have lost 52.5% of its value, a bond investment would be up 55.2%, and a US stock investment would be up 766%! *2
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In 2023, the US experienced the highest number of major work stoppages since 2000, involving 33 strikes with over 1,000 workers each. Among the 459,000 striking workers 48% worked in education or healthcare and 43% in information services. 3
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The top 20% of income earners in the US drive nearly 40% of consumer spending, while the lowest income group contributes only 9%. 4
- Bloomberg - "How Much Wealth You Need to Join the Richest 1% Around the World"
- BlackRock - "Student of the Market"
- MFS - "Beyond the News"
- Apollo - "Shares of Consumer Spending, by Income"
*Past performance is not indicative of future performance
Economic Calendar
Monday:
Philadelphia Fed President Tom Harker speaks
Tuesday:
Factory orders (Jan), ISM services (Feb), Fed Vice Chair for Supervision Michael Barr speaks, Fed Vice Chair for Supervision Michael Barr speaks
Wednesday:
ADP employment (Feb), Fed Chair Jerome Powell testifies to Congress, U.S. wholesale inventories (Jan), Job openings (Jan), San Francisco Fed President Mary Daly speaks, Federal Reserve Beige Book, Minneapolis Fed President Neel Kashkari speaks
Thursday:
Initial jobless claims (Mar), U.S. productivity (revision) (Q4), U.S. trade balance (Jan), Fed Chair Jerome Powell testifies to Congress, Cleveland Fed President Loretta Mester speaks, Consumer credit (Jan)
Friday:
New York Fed President John Williams speaks, U.S. nonfarm payrolls (Feb), U.S. unemployment rate (Feb), U.S. hourly wages (Feb), Hourly wages year over year
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US Futures*
S&P 5,132.01 -0.10%
DOW 39,001.14 -0.22%
NASDAQ 16,238.35
-0.21%
World Markets*
FTSE 7,638.43
-0.58%
NIKKEI 40,109.23
+0.50%
HANG SENG 16,595.97 +0.04%
*values as of 10am EST 3/4/2024
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Treasuries*
2 YR 4.573%
10YR 4.207%
30 YR 4.353%
Cryptocurrencies*
BTC-USD
66,053.82 +6.17%
ETH.CM
3,526.70 +1.62%
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Currencies*
Euro $1.0864
Pound $1.2690
Yen $150.3690
Commodities*
Gold 2,108.50
+0.61%
WTI Crude 80.02
+0.06%
Silver 23.68
+1.37%
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Upcoming Earnings Calls
Monday - SE, SHG, GTLB, CSAN, AVAV
Tuesday - CRWD, TGT, ROST, FERG, FNV
Wednesday - JD, BF.B, CPB, WF, DSGX
Thursday- AVGO, COST, PBR, MRLV, KR
Friday - SKM, AQN, NXE, RLX, LPL
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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 Eagle Wealth, LLC
4422C Route 27
PO Box 399
Kingston, NJ 08528
(609) 631-8231
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