Market Update | January 8, 2024

Today we had fun recording the latest episode for “The Benchmark,” our firm’s in-house podcast. This episode recapped 2023’s market performance and looked ahead to what are likely to be important drivers in 2024. Here are some thought-provoking statistics that we shared in this episode.

Putting the start of 2023 in context, 2022 was a historically very bad year for investors in both stocks and bonds. Just how bad? 2022 was only the third time in the last 100 years that both stocks and bonds declined in the same year. (Previously it had been 1931 and 1969.)

The stock market of 2023 floundered for the first quarter of the year, bounced then retreated from April through October, then blasted higher in November and December. The S&P 500 index ended 2023 with nine straight weeks in which it closed higher, its best win streak since 2004.

The U.S. presidential election will be on the minds of investors this year. What does history say about presidential election years and the stock market’s performance? The S&P 500 index had negative returns in only two of the last 20 election years (2000, 2008), and both declines were largely attributed to asset price bubbles rather than politics.

For more insights, tune into the podcast episode when it is released on Tuesday, January 16! Like the other episodes, it will be available on Apple, Google, Spotify, Amazon Music, Tuneln, and Alexa. We wish you a prosperous 2024. Let us know if we can do anything for you.

Leave a Reply

Your email address will not be published. Required fields are marked *

Form ADV Part 2A
Form CRS