2024 Q3 Investment Report

As we close the third quarter of 2024, global financial markets have shown notable resilience amid ongoing economic uncertainties. Despite many pundits warning of a difficult September, U.S. stocks posted modest gains for the month and the 3rd quarter saw U.S. stocks gain over 6%. Driven primarily by strong corporate earnings, the federal reserve’s interest rate cuts, and better job numbers than anticipated.

International Developed Markets were even more impressive, with gains of over 7.7%, while Emerging Markets posted gains over 8.7% for the 3^rd quarter.

On the bond front, the Federal Reserve’s 50 basis point cut in September helped boost bonds prices. The U.S. Bond Market, tracked by the Bloomberg US Agg Index, posted a gain of 5.2% for the quarter and over 11.5% since September of 2023.

Looking ahead, markets will focus on the upcoming earnings season and economic indicators, particularly employment figures and inflation rates. The November U.S. election will also be in focus, but historically elections are not a good barometer for market performance.

We believe maintaining a diversified portfolio remains crucial in navigating these volatile conditions.

As always, please reach out to our team with any questions!