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?
I Spy a Bull?
•The stock market's last low was back on October 12th, with the stock market rising 11% since then.
•This has fueled the belief that a new bull market has started. But if it is a new bull, it’s the weakest in recent memory.
•Since 1974, the S&P 500 has gained an average of 32% in the six months following a previous low.
•The smallest gains occurred in 1987 and 2002, when the index rose just 13%.
Time will tell if this is a real bull or just a small reprieve to the bear.
Silicon Valley Bank
•In March, we witnessed the second-largest bank failure in U.S. history.
•Silicon Valley Bank (SVB), which was the 16th largest bank in the country by deposits, collapsed after a chaotic 48 hours of investors pulling deposits.
•Small regional bank stocks have been hit hard after the event, with roughly half of all deposit withdrawals going to larger banks, as customers have realized that many deposits were not FDIC insured.
•Just under half (47.8%) of the deposits at FDIC-insured U.S. financial institutions were uninsured as of mid-March. The FDIC does not insure cash sitting in bank accounts above the $250,000 threshold.
Cocktail Party Facts
•The pace of innovation seems to be increasing exponentially. To reach 1 million users, it took Netflix 3.5 years, Facebook 10 months, and Spotify 5 months.
•The new artificial intelligence chatbot (ChatGPT), however, reached 1 million users within 5 days!
Financial Wellbeing
Credit Card Tips
•Did you know that 35% of your credit score depends on payment history?
•Set up automatic payments for bills and credit card payments to ensure your payment history remains squeaky clean!
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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. 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 www.alooola.com. This email 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.