Market Commentary
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The CPC Team
November 7, 2024
October 2024 Economic & Market Highlights
- October saw stock markets retreat as investor sentiment shifted amid economic and political fears. U.S. large-cap stocks and mega-cap stocks declined reflecting caution over the resilient labor market and persistent inflation, which could delay Federal Reserve rate cuts. Small-cap stocks faced additional pressure from slower economic growth, which tends to impact this segment more.
- Bond markets struggled as hopes for Federal Reserve rate cuts faded, influenced by strong U.S. economic data. Upcoming elections also raised concerns about potential policy changes affecting inflation and growth.
- Internationally, developed markets struggled under weaker economic data, especially in Europe, where industrial and manufacturing slowdowns highlighted broader economic challenges. Emerging markets also faced headwinds from a strong U.S. dollar and mixed sentiment in Asia, as investors navigated the impact of China's recent support measures.
The indexes mentioned are unmanaged and cannot be invested into directly. Past performance is no guarantee of future results.
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