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alooola® Money Monthly - July 2022

Curious about what's happening in the stock market? Every month, the alooola® team summarizes the key takeaways in a quick, easy-to-understand article!

What Do I Need to Know?


•The S&P 500 dropped 20.6% during the first 6 months of 2022, marking its worst first half of the year since 1970.

•There have been 14 bear markets since World War II, including the one we are experiencing today.

•It took 14 months on average for stocks to get back to break-even (i.e., the level it was before the pullback), after mild bear markets, but up to 5 years to get back to break even after the deepest bear markets.

•Economists now put the chance of a recession sometime in the next 12 months at 49% in July, up from just 18% at the beginning of 2022.

Midterm Elections

•During the Midterm election years, like this year, the stock market typically underperforms.

•Historically, the US stock market has gained 8.6% during midterm election years, compared to 11.6% during presidential election years and 14.6% during non-election years.

•This doesn't tell the whole story though, since typically the average return is 0.3% during the first 6 months of the year and has a much higher return of around 7.1% during the second 6 months of a midterm year.

Cocktail Party Facts

The wealthiest 10% of Americans hold 89% of stocks, worth $35.87 trillion.

•One in five Americans (21%) have NO retirement savings at all.

Financial Wellbeing

Should I Cancel My Credit Card?

•Canceling a credit card will cause a direct hit to your credit score, so more often than not, you’ll want to keep the account open.

•Keeping credit card accounts open for as long as possible is a smart strategy for building and maintaining good credit, especially if you're planning to take out a loan in the near future.

•15% of credit score is history, so even if you don't plan on using your card, don't cancel it, lock it in a drawer somewhere and call it a day!

Want more details?

Watch this 2-minute video on what else is happening in the stock market!

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Disclosure: alooola® is a branded investment advisory service provided by Glen Eagle Advisors, LLC, an SEC Registered Investment Adviser. The Glen Eagle Advisors brochure provides an explanation of the service and its fee structure. The material presented is for informational purposes only, and is not meant to be advice to any individual. Talk with alooola to see how this information may apply to you. Consider your current financial situation, tolerance for risk, and investment objectives before you invest funds in securities through alooola. For a more complete explanation of the alooola® service, please visit This article includes factual data based on articles published by Reuters, Wall Street Journal, Barrons Magazine, Apollo Chief Economist Research, BofA Global Research, MFS Research "By the Numbers", and Bloomberg.

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