Brad McMillan, Commonwealth’s CIO, recaps January’s market and economic news. The U.S. stock market reported lower-single-digit gains, while international and emerging markets lagged behind. The economy performed well, as strong retail sales, a healthy jobs market, and consumer confidence drove the fourth-quarter growth. This result kept inflation steady, though Fed Chair Powell signaled no rate cuts at the next meeting. Given the disconnect between market expectations and the Fed, what will happen to rates in February? Stay tuned to find out!
February 2024 Market Thoughts
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