Magic Number

By Matthew Gutierrez and Shawn O'Malley · May 29, 2024

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Most stocks fell today, but the three major U.S. indexes are set to increase in May. The Nasdaq is leading the charge.

?? After hitting a fresh record high on Tuesday, the tech-focused index is on track for its best May since 2003. What lies ahead with summer on the horizon?

As one analyst noted, investors wonder: “Is the macro environment really changing? Some of the things that were expected to happen, the probability of them happening is decreasing.” (Notably, rate cuts.)

— Matthew & Shawn

Here’s today’s rundown:

Today, we'll discuss the biggest stories in markets:

• The loneliness of the American worker
• How much happiness your salary buys

This, and more, in just 5 minutes to read.

POP QUIZ

What is the median salary in the U.S.? (Scroll to the bottom to find out!)

Chart of the Day

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In The News

?? The Loneliness of the American Worker

How well do you know your colleagues outside of work?

The pandemic exacerbated America’s loneliness epidemic. Now, there’s a rise in loneliness in the workforce, too.?

A growing number of workers feel a "sort of an emptiness or lack of belonging" despite working one, two, or even three jobs.?

Employers and researchers are exploring the impact of workplace changes on this loneliness epidemic, as declared by the U.S. Surgeon General. For instance, 1-800-Flowers.com has a popular company-wide chat group called “Loneliness.”

Consider:

• Over 40% of fully remote workers sometimes go days without leaving the house.
• Many in-office workers work remotely, even at the office: They spend nearly a quarter of their time in virtual meetings, with only 8% in face-to-face meetings.
• Meeting time has tripled since 2020, reducing casual interactions that foster happiness, per Microsoft.
• The percentage of workers who knew their colleagues personally dropped from 79% in 2019 to 68% in 2023.
• The number of U.S. adults who consider themselves lonely increased from 46% in 2018 to 58% recently, per Cigna.

Why it matters:

Loneliness impacts workers’ moods and ability to produce quality work. Cigna estimates that it costs companies $154 billion annually.

The small talk boost: Companies are trying to address the issue with new...