SPY - SPY Vs. EEM Vs. Gold Vs. Bitcoin: If You Had Invested $1000 In Each Of These Asset Classes At End Of 2023 Here's How Much You'd Have Now | Benzinga
The equity market has been on a tear this year and what makes the gain all the more delectable is the fact that it has come on top of a very strong performance in 2023. Hopes of global central banks beginning to reverse rate hikes and resilient economic performance were among the key factors that helped sustain the upward momentum.
Here is a look at how returns from major asset classes stacked up in the first half of the year:
US Equities: The U.S. equity market got off to a solid start in 2024 and rallied through late March. After a brief consolidation, the overbought market reversed course, selling off until late late-April. The market began a renewed upward push thereafter and closed the half year with a healthy gain of 14.5%.
The index gained about 10% in the first quarter and a more modest 3.9% in the second quarter.
The market did face a threat to its upward momentum in the second quarter as inflation that was tracking a downward trajectory since peaking in June 2021 began to reverse course. This in turn reduced the odds of a rate cut materializing in 2024, jeopardizing ...