Midterm Optimism

November 7, 2022

Enjoy this week's "Investor Insights," a weekly newsletter that highlights the financial news you need to know and provides tips and tricks to help you make better investment decisions.

This year is the first time that both stocks and bonds have lost money for 3 consecutive quarters since 1931. Investors remain hopeful that performance will improve since the average 4th quarter return for stocks during midterm election years is 6.5%. ₁

Although the S&P 500’s healthcare sector is down 7.3% this year, it is still outperforming the broader market by the widest gap since 2000. This is partially because demand for healthcare services is less affected by the strength of the economy.₂

Many of the elements that traditionally increase demand for gold occurred this year: persistent inflation, war, and a weak stock market. Despite these factors, gold has not been a “safe haven” as it is down by 10% in 2022. ₃

Some analysts point out that even though the S&P 500 is down 20% this year, the unemployment rate is down to 3.5% -- its lowest rate since 1969. The S&P 500 has never experienced a decline this deep with unemployment below 4%. ₄

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BlackRock Student of the Market - "October 2022"
WSJ - "Healthcare Stocks Offer Investors Refuge in Bruised Market"
Barron's - "Gold Is Having a Bad Year. Gold Mining Funds Are Doing Even Worse."
The Irrelevant Investor - "Three Things Dampening the Pain"

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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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