Stocks Slip

September 19, 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.

The average rate on a 30-year fixed mortgage climbed to 6.02%, up from 2.86% a year ago. The last time rates were this high was at the heart of the financial crisis in 2008.₁

Less than 1% of the stocks in the S&P 500 finished higher last week, something that has happened only 28 other times since 1940. On average, the index gained 15.6% over the following 12 months after such an occurrence and was higher 79% of the time.₂

Soaring profits at oil companies are making earnings look better than they really are for the rest of the stock market. Although the energy sector makes up only 2.7% of the US stock market, when you exclude it from the S&P 500, expected earnings for the year drop from 8% to around 1%.₃

Investors who have tried to time the market during this turbulent year have potentially missed out on great returns. Without the five best single-day gains from this year, the S&P 500’s loss widens from 19% to 30%.₄

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WSJ - "Mortgage Rates Top 6% for the First Time Since the 2008 Financial Crisis"
Barron's - "The Stock Market Finally Gets It. FedEx's Bad News Helped Drive the Point Home."
WSJ - "Energy and Mining Are Making the Stock Market Look Too Good"
Bloomberg - "Stocks Exact Harsh Toll on Would-Be Market Timers"

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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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