Please watch the latest market update by Jeff Rivett our lead portfolio manager.
Market Commentary - Stabilizing inflation and the hopes of interest rate cuts later this year led to a lot of optimism in the stock market throughout the month of February. As indicated in Jeff Rivett’s Video Market Update, we’re essentially seeing a continuation of what we experienced at the end of 2023 in terms of prices and general market behavior (and we’re not complaining about it!)
This month, the S&P 500 hit an all-time high and crossed the 5,000 mark which is a huge milestone. 73% of companies in the index that have reported Q4 earnings so far beat projections; obviously results like this steer the market in a positive direction by showing how resilient the economy and the consumer is.
Leap day is historically a hit or miss in the markets and since it was a hit this year, we have our fingers crossed that this is a manifestation of what is to come for the rest of 2024! In case anyone is curious why 2020 isn’t on the chart – it isn’t because the world has tried to block this year from existence, it is simply because the 29th fell on a weekend.
If you have any questions, don’t hesitate to reach out to any member of our team.
- Your Creed Capital Management Team
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