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? Midterm Optimism
•This year is the first time that both stocks and bonds have lost money for 3 consecutive quarters since 1931.
•Despite pessimism about the near-term outlook, this year is a midterm election year, and the stock market has typically performed well in the year following midterm elections.
•In fact, the S&P 500 has had a positive gain in the year following midterm elections 82.6% of the time since 1928.
•The average 4th quarter return for stocks during midterm election years is 6.5%.
Bearing the Bear Market
•Inflation has begun slowing down, from its peak of 9.1% in June to 7.7%.
•This led the stock market to rally 7% on a single day in early November.
•History shows this may not mean the end of the bear market, however.
•Data shows that of the 20 largest Nasdaq daily gains since 1990, 16 of them happened during the dot-com crisis and Great Financial Recession, none of which marked the end of those bear markets.
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Watch our 2-minute video on what else is happening in the stock market!
Cocktail Party Facts
•Credit card interest rates reached their highest level in 37 years.
•The average credit card APR hit 19.04%, beating the previous record from 1991.
Financial Wellbeing Max Out That 401k!
•Next year the maximum contribution to a 401k plan will increase.
•In 2023, 401k plan contribution limits will increase to $22,500 (up from $20,500).
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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.