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Q2 2024
Novi Wealth Partners / Quarterly Market Review / 2024 Q2
July 12th, 2024
The Q2 2024 Quarterly Market Review highlights a mixed economic environment where U.S. unemployment ticked up slightly to 4.1%, yet GDP growth remains strong. Inflation continues to be a challenge, with the Federal Reserve maintaining high interest rates and reducing expectations for rate cuts in 2024. The S&P 500 performed well, driven primarily by a few large technology companies, but there is concern about the heavy concentration in these stocks. Globally, emerging markets outperformed developed markets, while bond markets saw mostly positive returns despite rising Treasury rates. The review emphasizes the importance of maintaining a long-term investment focus, diversification, and avoiding the temptation to sit in cash as market conditions evolve.
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