Bear Market Rally

November 14, 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.

Credit card interest rates reached their highest level in 37 years. The average credit card APR hit 19.04%, beating the previous record from 1991. ₁

Last week the Nasdaq gained 7.49% as investors celebrated a slight slowdown in inflation. This may not mean the end of the bear market, however, since data shows that of the 20 largest Nasdaq daily gains since 1990, 16 of them happened during the dot-com crisis and Great Financial Recession, none of which marked the end of those bear markets. ₂

Despite some analysts' pessimism about the near-term outlook, the stock market has typically performed well in the year following mid-term elections. In fact, the S&P 500 has had a positive gain in the year following midterm elections 82.6% of the time since 1928. ₃

IPOs have performed poorly over the past few years, with only 23% of companies that have gone public since 2018 trading above their original offering price. ₄

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Yahoo Finance - "Credit Card APRs Hit Highest Level in 37 Years"
Barron's - "Don't Be Fooled by the Stock Rally. It's Still a Bear Market"
Money Magazine - "Presidential Cycle Graphic"
Barron's - "IPOs Are in the Dumps. These 4 Could Buck the Trend."

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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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