Second Quarter 2024 Market Newsletter

Investment Management, Markets

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Read the full Second Quarter 2024 Market Newsletter HERE

EXECUTIVE SUMMARY

In the second quarter of 2024 large company stocks rose while smaller company stocks fell. Stocks of companies in Emerging Markets did better than those of developed markets. Bonds were flat.
The Federal Reserve’s interest rate campaign is beginning to impact the US economy as there are signs of slowdown, but not at an alarming rate.
Inflation has cooled significantly since 2022, but low-income consumers are not feeling the benefits as prices of non-discretionary items remain high.
Outside the US, economies are recovering but growing unevenly. As inflation has been cooling, the European Central Bank cut rates for the first time since 2019, as did the Bank of Canada.
Despite the slowdown in the economy, analysts expect strong corporate earnings growth in the US and overseas. This should support stocks.
Large company stocks have handily beaten smaller company stocks in recent times. However, over a longer period, small stocks have outperformed large stocks. This supports the need to invest an appropriate amount in small company stocks to create resilient portfolios.

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