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Market Moment
Glen Eagle®: America’s Women-Owned Trading Desk®
12/11/2023
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The concentration in the S&P 500 continues to increase, and the ten largest stocks now make up 35% of the index, the highest level since the last tech bubble in 2000. 1
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In a recent survey, 26% of women agreed with the statement "I don't have enough saved for retirement," compared to 19% of men. Additionally, the survey revealed a contrast in emergency savings, with women holding a median of $2,400 (vs. a median of $9,000 in savings for men). 2
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Mega-cap tech stocks are heavily embracing artificial intelligence, as evident from the Q3 earnings calls of Apple, Alphabet, Amazon, Meta, Microsoft, and NVIDIA. The companies mentioned "AI" 418 times, a significant increase from just 109 mentions a year ago. 2
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November marked the 16th instance since 1979 when the S&P 500, Nasdaq, and Russell 2000 all surged at least 7.5% in the same month. Historically, after the previous 15 occurrences, median returns over the next year were +13.2% (S&P 500), +16.9% (Nasdaq), and +13.1% (Russell 2000). *2
- Apollo - "Tech Bubble Similarities"
- MFS- "Beyond the News"
*Past performance is not indicative of future performance
Economic Calendar
Monday:
None scheduled
Tuesday:
Consumer price index (Nov), Core CPI (Nov), CPI year over year, Core CPI year over year, Monthly U.S. federal budget (Nov)
Wednesday:
Producer price index (Nov), Core PPI (Nov), PPI year over year, Core PPI year over year, FOMC interest-rate decision, Fed Chairman Jerome Powell press conference
Thursday:
Initial jobless claims (Dec), Import price index (Nov), Import price index minus fuel (Nov), U.S. retail sales (Nov), Retail sales minus autos (Nov), Business inventories (Nov)
Friday:
Empire State manufacturing survey (Dec), Industrial production (Nov), Capacity utilization (Nov)
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US Futures*
S&P 4,604.75 -0.05%
DOW 36,261.00 -0.05%
NASDAQ 16,094.50
-0.02%
World Markets*
FTSE 7,4513.75
-0.54%
NIKKEI 33,791.80
-0.54%
HANG SENG 16,201.49 -0.81%
*values as of 9:30 AM EST 12/11/2023
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Treasuries*
2 YR 4.754%
10YR 4.262%
30 YR 4.343%
Cryptocurrencies*
BTC-USD
41,945.25 -4.38%
ETH.CM
2,219.68 -6.20%
^CMC200
864.91 -3.55%
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Currencies*
Euro $1.0757
Pound $1.2571
Yen $146.2430
Commodities*
Gold 2,009.50
-0.25%
WTI Crude 71.03
-0.28%
Silver 23.20
-0.31%
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Upcoming Earnings Calls
Monday - ORCL, CASY, KEP, BLBD, VALU
Tuesday - BHP, JCI, SATX, CD, EPIX
Wednesday - ADBE, NDSN, SKM, ABM, PLAB
Thursday- COST, LEN, JBL, AEG, MANU
Friday - DRI, DJCO, GENC, PFX, ONMD
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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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