February 7, 2024 | Investment Review

Investment Review - February 2024

  1. Equity markets rose in January as the New Year followed a pattern established last October. The Dow rose 1.2%, the S&P 500 notched a 1.6% increase and the NASDAQ moved 1% higher. The indexes are registering all-time highs amid a strong earnings season and a boom in technology spending.

  2. Returns from bonds remained mostly flat, month-over-month, with the persistence of an inverted yield curve. As we approach a Fed rate cut, we are likely going to witness the short end of the curve move down repeatedly.

  3. Unlike the Large and Mega-Cap indexes, small capitalization companies pulled back, in aggregate, during January. The S&P 600 Small Cap Index retreated almost 4% after a two-month surge of about 14%.

Key Investment Statistics

Sources: FactSet, Dow Jones Publishing, Bloomberg, Bureau of Labor Statistics, U.S. Federal Reserve

Disclosure: This commentary reflects the opinions of Welch & Forbes based on information that we believe to be reliable. It is intended for informational purposes only, and not to suggest any specific performance or results, nor should it be considered investment, financial, tax or other professional advice. It is not an offer or solicitation.

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