Third Quarter 2024 Market Newsletter

Investment Management, Markets

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Read the full Third Quarter 2024 Market Newsletter HERE

EXECUTIVE SUMMARY

Stocks and bonds performed well in the third quarter. In the stock market, there was a broadening of performance as previously underperforming stocks caught up.

The Federal Reserve cut interest rates by 50 basis points and indicated that inflation is “much closer” to its 2% target and that the focus going forward would be in supporting the employment market. It also indicated that the economy is strong overall.

S&P 500 earnings are forecasted to grow by a healthy 11.3% in calendar year 2024 and 14.4% in 2025.

Going back to 1984, both stocks and bonds have usually done well after the first interest rate cut by the Federal Reserve.

Historically, no matter which party got the reins to the White House, stocks have appreciated over time. While performance is better under certain administrations, missing out the gains earned when the White house and/or the Congress were controlled by a specific party led to lower overall gains. Don’t let politics influence your investment decisions.

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