Top Financial Headlines of 2024
In honor of all of the year-in-review lists that are coming our way as we near the end of the year, we wanted to go over some of the top financial headlines of 2024. While this is not an exhaustive list, it does highlight a lot of what was on investors’ minds. It might not be as fun as your Spotify Wrapped or Apple Music Replay lists, but hopefully you find it informative. Other than Taylor Swift, which I am forced to play every time I am in the car with my two girls, my top artist of 2024 was Parcels (check out the song Lightenup if you’ve never heard them).
All-time highs
As of this writing, the S&P 500 has closed at a record high 57 times in 2024. And for the record, the year with the highest number of all-time highs was 1995 with 77 (does that sentence make sense??). What is also interesting to note is that the index dropped as much as 8% during one period in 2024. Anyone remember that?
Source: JP Morgan Guide to the Markets
Interest rates and Inflation
How many times did we see headlines and articles around the Fed and whether or not they would lower the benchmark interest rate? I don’t have a solid number for that one, but suffice it to say it was a lot. Maybe not as many times as I heard Taylor Swift…
The markets are expecting one more rate cut this week.
Source: @SoberLook
Election Volatility
Yes, there is/was volatility around the presidential election. As you have heard us say many times before, over the long term, it doesn’t matter to the markets which party is in power.
S&P 500 vs Presidential Political Party
Tech Leads the Way
But, for how much longer? Valuations of these companies are through the roof, but that has not stopped stock prices from increasing. The Magnificent 7 continues to grab headlines, but are there other opportunities going forward?
Source: Goldmans Sachs Global Investment Research
Geopolitical Tensions Impact Investment Decision-making
There will always be something to worry about, and that is not likely to change anytime soon. Keep your eye on your goals and consider your specific situation when making investment decisions. ‘Waiting until things feel a little better’ usually means the market has already gone up.
At Meridian, our top headline was appreciation for our people. Last Thursday, we all enjoyed a fantastic meal together and as far as I could tell, genuinely like spending time with each other!
Yes, that’s a lot of food!
Nathan