Financial markets showed resilience in 2024, extending the bull market that began in late 2022 as stocks weathered interest-rate changes, uncertainty around the US elections, and the ups and downs of the Magnificent 7 stocks.1 The S&P 500 posted a gain of more than 20% for the second year in a row—the first time that has happened since 1998–99.2 While there were some notable downturns through the year, they were followed by quick recoveries.
Advances in the US and other developed markets led to positive returns globally, as Exhibit 1 shows, although emerging markets lagged developed markets. In the fall, the US Federal Reserve cut interest rates by a half point, which preceded two subsequent quarter-point cuts.3 Overall, US bond prices rose for the year, but US Treasury prices were mixed; the benchmark 10-year fell, pushing its yield above 4.5%.
For informational and educational purposes only and should not be construed as specific investment, accounting, legal or tax advice. Cogent Strategic Wealth provides investment advice only through individualized interactions. Certain information is based upon third-party data, which may become outdated or otherwise superseded without notice. Third-party information is deemed to be reliable, but its accuracy and completeness cannot be guaranteed. Indices are not available for direct investment. Their performance does not reflect the expenses associated with the management of an actual portfolio nor do indices represent results of actual trading. Information from sources deemed reliable, but its accuracy cannot be guaranteed. Performance is historical and does not guarantee future results. Neither the Securities and Exchange Commission (SEC) nor any other federal or state agency have approved, determined the accuracy, or confirmed the adequacy of this article.
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