September 2024 Economic & Market Highlights

The Federal Reserve's 0.5% interest rate cut in September, its first in four years, boosted both large-cap and mega-cap companies. This shift in policy pushed the S&P 500 up by 2.1% and the DJ Industrial Average by 2.0%, as investor confidence surged with expectations of a more favorable economic environment for these companies.
The bond market remained resilient, with the Barclays Aggregate Bond Index rising 1.3%. Municipal bonds increased by 1.0%, as lower interest rates continued to drive demand for safer, income-generating fixed income assets.
Emerging markets rallied significantly, gaining 6.7%. Nearly half of this came on September 27th, when China injected massive stimulus into its economy, sparking a surge in investor sentiment. The combination of this stimulus and a weaker U.S. dollar led to strong capital inflows into emerging economies.

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The indexes mentioned are unmanaged and cannot be invested into directly. Past performance is no guarantee of future results.

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