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?
First Quarter Frenzy
• Well, well, well, look who's still riding high! The S&P 500 kicked off 2023 with a bang, boasting a positively delicious return of 7.03%.
• Here's a little history lesson for ya: Since World War II, when the S&P 500 posted a first-quarter gain like this, the rest of the year typically averages an 8.9% gain.
Stock Stars and Sector Surprises
• Don't let anyone tell you that it takes a whole herd to make bank. The S&P 500's first-quarter success was largely thanks to just six stocks.
• Can you imagine a world without Apple, Nvidia, Microsoft, Amazon, Tesla, and Google? Yeah, we'd rather not. Because without them, the first quarter would have been as flat as a pancake.
• The underdogs are back in action! Communication, consumer discretionary, and technology sectors may have taken a hit in 2022, but they came back roaring in the first quarter of 2023 with a rally of over 15%.
Want more details?
Watch our 2-minute video on what else is happening in the stock market!
Cocktail Party Facts
• Brace yourself for this one: over a quarter of Americans are currently cruising towards retirement with absolutely zilch saved up.
• And the award for "Least Prepared for Retirement" goes to...drumroll, please...the baby boomers. 1 in 5 people over 59 do not have a retirement account! Sorry, folks, but it looks like those golden years might be a little less shiny than you'd hoped.
Financial Wellbeing
Cash vs Card
• 84% of Americans may have credit cards, but let's be real - cash is the way to go if you're trying to save some dough.
• According to an MIT study, credit card companies are basically playing mind
games with us. By exploiting the reward networks in our brains, they're able to control our spending habits and lead us straight to impulse purchases. Yikes! It's time to show those credit card companies who's boss.
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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.