Hello, I’m Conner Gyllenhammer.
With the close of another year, the US economy finished on pace for the much anticipated soft landing, buoyed by continued strong employment trends, a steady housing market, and disinflation across a broad range of sectors.
In 2023, Domestic equities ended on a strong rally as the S&P 500 was up over 26% during the year and nearly approached an all-time high, previously hit in January 2022. Technology, consumer services, and discretionary sectors led the way, gaining over 57%, 55%, and 42%, respectively.
In the tech sector, most earnings can be attributed to the magnificent 7 (I will highlight the names on the screen), which helped the NASDAQ post its largest annual gains in over 20 years!
Small caps were up over 15%, while mid-caps were up over 16% in 2023. Mid and Small companies could benefit if interest rate declines come to fruition
Looking ahead to 2024, the Market expects multiple interest rate cuts as inflationary pressures are expected to ease. If inflation does not come down as expected, the Market may be disappointed.
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