• In a recent poll, 52% of money managers expressed optimism about the stock market, a rise from 38% last fall. These bullish managers had a median forecast that implied a 9% increase in the S&P 500’s value from its current level. *1
• The Top 5% of healthcare spenders account for 51% of total healthcare spending, while the bottom 50% account for just 3%. Their average annual healthcare costs are $385. People with health spending in the top 1% have annual average costs of $166,980. 2
• American women aged 65 today have a 52% probability of living to 85 and a 30% probability of living to 90. For men, the probabilities are lower, at 39% and 19%, respectively. For couples aged 65, there is only a 20% chance that both members will live to 85. 3
• Since 2006, the US has maintained its share of the world’s economic output (GDP) at 25%. The EU/UK’s share, however, has fallen from around 30% to just over 20%, while China’s share has risen from around 5% to over 16%. 4

1. Barrons – “The Stock Market Will Rise Nearly 10% More This Year, Money Managers Predict in Barron’s Latest Poll"
2. Apollo Global Management – “Distribution of Healthcare Costs"
3. JP Morgan – “Life Expectancy Gap"
4. The Irrelevant Investor – “Animal Spirits: Negative Arbitrage"

*Past performance is not indicative of future performance

Economic Calendar

Monday:

Richmond Fed President Tom Barkin speaks, New York Fed President Williams speaks

Tuesday:

Minneapolis Fed President Kashkari speaks, Consumer credit (Mar)

Wednesday:

Wholesale inventories (Mar), Fed Vice Chair Philip Jefferson speaks, Boston Fed President Susan Collins speaks, Fed Gov. Cook speaks

Thursday:

Initial jobless claims (May), San Francisco Fed President Mary Daly speaks

Friday:

Fed Governor Michelle Bowman speaks, Consumer sentiment (prelim) (May), Chicago Fed President Austan Goolsbee speaks, Fed Vice Chair for Supervision Michael Barr speaks, Monthly U.S. federal budget (Apr)

Upcoming Earnings Calls

Monday - VRTX, ITUB, PLTR, MCHP, O

Tuesday - DIS, BP, UBS, ANET, RACE

Wednesday - TM, UBER, BUD, ABNB, ARM

Thursday- PBR, BN, HMC, CEG, TAK

Friday - ENB, CRH, CPG, AQN, DOCN

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