Welcome to our October 2024 Market Update!
Thanks for tuning in and before I get into the markets, I wanted to offer a big Thank You to receiving so much interest in the financial planning conference I attended.
The S&P 500 added on another 2% in September, bringing the year-to-date total to 22.1% through the third quarter.1
Interestingly, the third quarter actually saw foreign stocks outperform the U.S. According to research by LPL, the reason could be found in a weaker dollar.1 I’m interested to see if this continues.
Pardon the pun, but precious metals continue to shine in 2024! Gold rose over 5% last month and stands pretty much atop the performance of most assets with a return this year of 27.14% through the third quarter.2
So, what’s to make of all that we’re talking about? Personally, I’m still surprised we haven’t seen more volatility out of stocks. I feel this way because we saw the Federal Reserve cut rates more than what I feel markets anticipated and we have a big election cycle in front of us.
I believe there are a few ways to position that may help investors for whatever comes next. I believe interest rates may remain volatile but may be trending lower. I also think stocks may offer opportunity but I would make sure to diversify. Lastly, I like precious metals and commodities as I believe they may offer a potential hedge against inflating debt and even possible global conflict.
Successfully,
Tim Truebenbach, CFP®
Senior Vice President – Financial Advisor
Disclaimers and Sources
1 Source: LPL Research, Daily Market Update, 10/1/2024, Jeffrey Buchbinder, CFA
2 Source: Morningstar, Gold Index, 10/3/2024
The economic forecasts set forth in this material may not develop as predicted and there can be no guarantee that strategies promoted will be successful.
Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.
There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk.
The NASDAQ Composite Index measures all NASDAQ domestic and non-U.S. based common stocks listed on The NASDAQ Stock Market. The market value, the last sale price multiplied by total shares outstanding, is calculated throughout the trading day, and is related to the total value of the Index.
The S&P 500 is a stock market index tracking the stock performance of 500 of the largest companies listed on stock exchanges in the United States. Indexes are unmanaged and cannot be invested in directly. (102-LPL)
International investing involves special risks such as currency fluctuation and political instability and may not be suitable for all investors. (92-LPL)
Precious metal investing involves greater fluctuation and potential for losses.
Stock investing includes risks, including fluctuating prices and loss of principal.
The fast price swings in commodities will result in significant volatility in an investor’s holdings. Commodities include increased risks, such as political, economic, and currency instability, and may not be suitable for all investors. (122-LPL)
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