Investment Review - February 2024
- 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.
- 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.
- 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
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