Q4 2023 Market Insights
In the fourth quarter, financial markets staged an impressive rally due to the Federal Reserve setting expectations for aggressive rate cuts. The year ended strong for U.S. stocks thanks to “the Magnificent Seven” companies, collectively returning 76%. As we head into 2024, there are many crosscurrents that need to be watched as volatility is expected to pick up. Investors remain focused on whether the U.S. will avoid a recession, earnings for the S&P 500, and the presidential election.