ACTV - Moderately Bullish On 2024: Markets To Overcome Pessimism And Challenges
2024-04-15 14:45:50 ET
Summary
- The markets have had a strong start to 2024, with positive performance in Q1.
- The March U.S. inflation statistics have stimulated concerns about projected Federal Reserve interest rate cuts and market direction.
- I believe that the inflation statistics are mixed and the Federal Reserve will cut rates while adhering to its dual policy mandate.
- My overall forecast for the rest of 2024 is bullish.
Introduction
Projecting what the markets may do for the remainder of calendar year 2024 is the main purpose of this article. This is a challenging task given all the factors that drive markets, economies and investor (and trader) habits and behaviors.
Most investors pay fairly close attention to their portfolios. This may be for better and for worse. Investors also may trade portions of their portfolios, which adds to any interest in the relatively short term. Others are market aficionados and enjoy tracking economic and market trends.
2024 Q1 Performance
The markets have had an excellent start to 2024, as illustrated by this chart :
Overall market performance in Q1 has also been solid, as shown in this chart from Nixon Peabody. The S&P and the Nasdaq have led the way, but it's noteworthy that the MSCI All Country World Index also is clearly positive.
If this performance were to continue for the remaining three quarters of 2024, it would be a spectacular year. The first two weeks of April suggest the markets are in at least a mild short-term correction - but not more....
Moderately Bullish On 2024: Markets To Overcome Pessimism And Challenges