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Market Moment
Glen Eagle®: America’s Women-Owned Trading Desk®
8/14/2023
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A recent Reuters survey shows that 73% of Americans believe the economy is worse than it was five years ago. Additionally, about 2 in 5 people feel personally worse off than they did five years ago. 1
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The average American credit card balance is at a new record of $7,300, while the median household savings are at just $5,300. Delinquency rates have risen for 6 consecutive quarters, the longest streak since 2008. 2
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Since 1928, the S&P 500 has seen 55 years with annual gains of over 10%. Of those, 23 years experienced corrections of 10% or worse within the same year, showing that almost half of the years with 20%+ stock market gains include significant corrections.* 3
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71.9% of all US consumers reported visiting Walmart in the last month (compared to 50% five years ago). The growing trend transcends income levels with 74% of consumers earning under $50k and 56% of those earning over $200k visiting Walmart. 4
- Reuters - "Reuters/Ipsos Survey: Perceptions of the economy impact Biden's approval and chances in 2024"
- The Irrelevant Investor - "Animal Spirits: Do Valuations Matter?"
- A Wealth of Common Sense- "Even When the Stock Market Goes Up it Still Goes Down"
- MFS - "Beyond the News"
*Past performance is not indicative of future performance
Economic Calendar
Monday:
None scheduled
Tuesday:
U.S. retail sales (Jul), Retail sales minus autos (Jul), Import price index (Jul), Import price index minus fuel (Jul), Empire State manufacturing survey (Aug), Business inventories (Jun), Minneapolis Fed President Kashkari speaks
Wednesday:
Housing starts (Jul), Building permits (Jul), Industrial production (Jul), Capacity utilization (Jul), FOMC minutes of July meeting
Thursday:
Initial jobless claims (Aug), Philadelphia Fed manufacturing survey (Aug), U.S. leading economic indicators (Jul)
Friday:
None scheduled
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US Futures*
S&P 4,473.50 -0.16%
DOW 35,325.00
-0.07%
NASDAQ 15,069.50
-0.17%
World Markets*
FTSE 7,492.34
-0.42%
NIKKEI 32,059.91
-1.27%
HANG SENG 18,773.55 -1.58%
*values as of 9:30 AM EST 8/14/2023
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Treasuries*
2 YR 4.946%
10YR 4.187%
30 YR 4.280%
Cryptocurrencies*
BTC-USD
29,314.25 -0.18%
ETH.CM
1,843.24 -0.71%
^CMC200
633.85 -0.21%
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Currencies*
Euro $1.0887
Pound $1.2637
Yen $145.4110
Commodities*
Gold 1,939.70
-0.35%
WTI Crude 82.67
-0.63%
Silver 22.66
-0.34%
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Upcoming Earnings Calls
Monday - SU, ELP, XP, ROIV, RUM
Tuesday - HD, BHP, ALC, A, SE
Wednesday - CSCO, TJX, SNPS, TGT, JD
Thursday- WMT, AMAT, ROST, KEYS, NICE
Friday - DE, PANW, EL, TLK, VIPS
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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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