Market Commentary
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The CPC Team
August 19, 2024
March 2024 Economic & Market Highlights
- The stock market delivered positive performance across the board in March, as participants parsed through new data and fresh expectations of rate cuts during 2024.
- Small caps outperformed large caps for the second consecutive month, as broadening profit leadership could present opportunities in parts of the market outside of the ten largest companies.
- Economic data came in mixed, with the consumer showing strength, and inflation remaining stubborn.
- Federal Reserve Chairman, Jerome Powell, demurred when asked whether officials would lower rates at their coming meetings in May or June, maintaining the guidance that rate cuts won't be appropriate until officials have more confidence inflation is moving sustainably toward their 2% target.
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