February 2, 2024

January 2024 Market & Economic Recap

Stock Market January’s solid gains were upended on the final day of the month with Fed Chairman Jerome Powell’s comments that a March rate cut was “probably not the most likely case.” On that news, U.S. stocks logged their biggest daily drop of 2024. The S&P 500 fell 1.6% for the day, and the Nasdaq Composite saw its largest single-day decline since December 2022. But tempered hopes for a March rate cut didn’t spoil the entire month’s gains after the markets entered all-time high territory multiple times in January, still ending positive. For the month of January, the stock market’s […]
January 1, 2024

December 2023 Market & Economic Recap

Stock Market Strong market headwinds pushed stocks higher through December, continuing November’s rally and nearing record highs before falling just short on the last trading day of the month – and the year. In all, the S&P 500 closed just 0.6% below its record high of 4,796.56 on January 3, 2022. The index rose for a ninth straight week to end December, Q4, and 2023, the S&P 500’s most substantial quarterly gain since Q4 of 2020. Wall Street’s three major indices all finished December positive, adding to their strong gains in 2023. The Nasdaq climbed a remarkable 40%+ over the […]
December 2, 2023

November 2023 Market & Economic Recap

Stock Market Markets rallied in November on the basis of a stronger-than-anticipated economy, resilient consumer, tempered inflation, and the realization that the Fed will likely pause rate hikes. For the month, Wall Street’s three major indices performed as follows: The Dow +8.8% S&P 500 +8.9% Nasdaq +10.7% In November, both the S&P 500 and the Nasdaq Composite saw their biggest monthly gains since July 2022, and the Dow broke its three-month losing streak in bold fashion.   Inflation November’s highly anticipated Consumer Price Index report revealed the cost of goods and services remained flat from October, with annual inflation increasing […]
November 1, 2023

October 2023 Market & Economic Recap

Stock Market Despite regaining ground on the last day of the month, October proved subpar for the equity markets on fears of war in the Middle East, surging bond yields, and shaky earnings from Big Tech. For the month, Wall Street’s three major indices performed as follows: The Dow -1.4% S&P 500 -2.2% Nasdaq -2.8% It was the third-straight losing month for both the Dow and S&P 500, the first three-month negative streak since March 2020. Likewise, the tech-heavy Nasdaq saw its third consecutive losing month. The previous Friday saw the S&P 500 officially enter correction territory, defined as 10% […]
October 2, 2023

September 2023 Market & Economic Recap

  Stock Market Inflation uncertainty and the specter of an imminent government shutdown drove markets in what turned out to be a shaky September for stocks. For the month, the market’s three major indices performed as follows: The Dow -3.5% S&P 500 -4.9% Nasdaq -5.8% The Nasdaq and S&P posted their worst performing month of the year in September and the worst since December 2022, while the Dow saw its worst month since February. For the quarter (Q3), the three major indices performed as follows: The Dow -2.6% S&P 500 -3.7% Nasdaq -4.1%   Jobs and Unemployment According to the […]
September 2, 2023

August 2023 Market & Economic Recap

The Stock Market August is often a turbulent month for Wall Street, and August 2023 was no exception. For the month, the three major stock market indices performed as follows: S&P 500 -1.77% Nasdaq Composite -2.17% The Dow -2.36% A strong close to the month – including four winning days for the S&P 500 and the Dow and five consecutive positive days for the Nasdaq Composite – couldn’t keep the stock market out of the red. In August, the tech-heavy Nasdaq saw its worst monthly losses for 2023 and worst month since December 2022, while the S&P 500 saw its […]
August 1, 2023

July 2023 Market & Economic Recap

Stock Market In July, stocks continued their favorable run, turning bear to bull in 2023. For the month, the market’s three major indices performed as follows: S&P 500 3.1% The Dow 3.4% Nasdaq Composite 4.1% For the S&P 500 and Nasdaq Composite, July marked the fifth-straight month of gains, the longest green streak in approximately two years. Year-to-date (through July 31st), the market’s major indices have performed as follows: The Dow 7.3% S&P 500 19.5% Nasdaq 37.1% Through the first seven months of 2023, the S&P 500 registered its best start of any year since 1997, while the Nasdaq saw its highest-gaining […]
June 1, 2023

May 2023 Market & Economic Recap

Stock Market In May, stocks ended mixed as the Nasdaq was sparked by AI stocks, debt ceiling worries wiped out earlier S&P gains, and the Dow dropped thanks to double-digit losses by Nike, Disney, Walgreens, Chevron, and more. For the month of May, the three major stock indices ended as follows: Nasdaq Composite +5.8% S&P 500 +0.3% The Dow -3.5%   Debt Ceiling Speaker Kevin McCarthy and President Biden struck an agreement in principle to suspend the nation’s borrowing limit over Memorial Day Weekend. The controversial debt ceiling bill then passed the House on May 31st and now must pass the Senate […]
May 1, 2023

April 2023 Market & Economic Recap

Stock Market For the month of April, the stock market’s three major indices performed as follows: Dow Jones Industrial Average 2.48% S&P 500 1.46% Nasdaq Composite 0.1% For the month, the Dow saw its largest monthly gain since January, while the S&P logged its second positive month in a row. Friday, the last trading day of the month, saw solid gains thanks to a series of strong earnings reports, with the Dow rising 0.8%, the S&P the same, and the tech-heavy Nasdaq Composite jumping 0.7%. To date, just over 53% of S&P 500 companies have reported earnings. Of those, 79% […]
April 3, 2023

March 2023 Market & Economic Recap

Stock Market For the month of March, the stock market’s three major indices performed as follows: Dow Jones 1.9% S&P 500 3.5% Nasdaq 6.7% Stocks rallied on the last day of March to end a volatile month on a high note. The Dow Jones Industrial Average posted a 1.3% gain on the last Friday of the month, with the S&P 500 and Nasdaq posting daily gains of 1.4% and 1.7%, respectively. For the first three months of 2023, the Nasdaq Composite increased by 16.8%, its best quarterly gain since 2020. Q1 2023, the Dow posted a 0.5% gain and the […]
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