Printer Friendly PDF: 2024 Q4 Nvest Nsights Newsletter which also includes benchmarking and data on investments widely utilized in our current tactical strategies.
2024 Year in Review | Steve Henderly, CFA
There was no Santa Claus rally to conclude 2024. In fact, away from the largest technology names which permitted indexes like the size-weighted S&P500 to move upward, the average stock received a few lumps of coal in December. But even without a year-end rally, 2024 exceeded the expectations of most investors.
Twelve months ago, the S&P500 stood at a level of 4,770 and the average strategist’s target for 2024 was an advance of just 2%. A variety of concerns led the consensus to project a relatively mild return in the stock market as we entered 2024. Along with inflation and interest rate uncertainty, 40% of voters around the globe would choose new leadership; the most in history. Talk about uncertainty! Despite these concerns, the S&P500 leapt roughly 24% and logged 57 record highs to close at a level just shy of 6,000. How can the consensus so often miss the mark?