As we close out the third quarter of 2024, the financial landscape continues to evolve. The S&P 500 has achieved an impressive four consecutive positive quarters, defying various economic headwinds. Meanwhile, the Federal Reserve’s recent 50-basis-point rate cut signals a shift in monetary policy, aimed at balancing labor market concerns with inflation control. This quarter also saw significant developments in inflation trends, treasury yield normalization, and market volatility. Our comprehensive overview provides insights into these key developments and their potential implications for investors as we head into the final stretch of 2024.
Monthly Economic Update: August
Specific strength was seen in information technology towards the end of the month. Overall, the information technology sector showed investors a very solid earnings season, as earnings growth was the third highest among the 11 S&P 500 sectors.
The S&P 500 information technology sector is led by chip giant Nvidia Corp, Broadcom, Fair Isaac and Company, Super Micro Computer, and other tech powerhouses.
Quarter 2 Review
The first quarter featured two Fed meetings, with the Fed leaving rates unchanged in January and March. The result is the same current target overnight lending rate of 5.25 – 5.50%, a 23-year high.
Monthly Economic Update: July
Specific strength was seen in information technology towards the end of the month. Overall, the information technology sector showed investors a very solid earnings season, as earnings growth was the third highest among the 11 S&P 500 sectors.
The S&P 500 information technology sector is led by chip giant Nvidia Corp, Broadcom, Fair Isaac and Company, Super Micro Computer, and other tech powerhouses.
Monthly Economic Update: June
Specific strength was seen in information technology towards the end of the month. Overall, the information technology sector showed investors a very solid earnings season, as earnings growth was the third highest among the 11 S&P 500 sectors.
The S&P 500 information technology sector is led by chip giant Nvidia Corp, Broadcom, Fair Isaac and Company, Super Micro Computer, and other tech powerhouses.
Monthly Economic Update: May
After a strong March, major U.S. equity indexes retreated in April. Rising Treasury yields were a prevalent theme for much of the month, while attention turned to corporate earnings and the Fed meeting at the end of the month.
1st Quarter Economic
The first quarter featured two Fed meetings, with the Fed leaving rates unchanged in January and March. The result is the same current target overnight lending rate of 5.25 – 5.50%, a 23-year high.
Monthly Economic Update: April
Market bulls were also cheering the prospects of a more accommodating and rate-cutting Fed later this year, and they were bolstered by Federal Reserve Chair Jerome Powell’s comments on monetary policy, further catalyzing gains for the month.
Monthly Economic Update: March
The January jobs report released in early February showed a blowout jobs number with 353,000 jobs created vs. 185,000 forecasted. Is strong good employment data a good thing? It depends on how you look at it.
Monthly Economic Update: February
January was good for long-term investors in U.S. stocks, especially in megacap tech with AI exposure. Market bulls were cheering the prospects of a more accommodating Fed in 2024, with the rate decision and Fed statement happening on the last day of the month.