The Q4 2024 Quarterly Market Review reflects a quarter of strong U.S. equity performance alongside growing dispersion across global markets and asset classes. U.S. stocks posted positive returns and outperformed both international developed and emerging markets, with large-cap growth leading while small caps and value lagged. Outside the U.S., developed and emerging markets experienced negative returns amid political uncertainty, slowing global growth, and shifting central bank policies. Fixed income markets faced headwinds as interest rates moved higher, resulting in broadly negative bond returns in both the U.S. and global markets. Commodities were slightly negative overall, with notable differences across individual sectors. The review also examines consumer sentiment, highlighting that despite pessimistic readings, historical data shows little connection between consumer confidence and future market returns. The report emphasizes maintaining discipline, diversification, and a long-term perspective amid short-term uncertainty and emotional market narratives.