Q3 Market Overview and Investor Sentiment
Welcome to Solist Wealth Management’s Monthly Market Commentary. In Q3 2024, the S&P 500 and NASDAQ showed strong performances with monthly increases of 3.59% and 6.03%, respectively, marking YTD gains of 15.29% and 18.57%. However, the Dow Jones Industrial Average had a modest 1.23% increase, leading to a 4.79% YTD gain. Investor sentiment fluctuated, as indicated by the VIX’s 3.72% drop, signaling a cautious yet positive outlook amidst fears of market corrections. Diversified portfolios performed well, with fixed income, small caps, and gold seeing gains of over 2.5%, 4%, and 2%, respectively.
Sector Performance and Fixed Income Insights
Sector-wise, it’s a stock picker’s market. Real estate, healthcare, and utilities emerged as top performers, each rising between 5-10%, while IT, consumer discretionary, and communication services lagged. Our fixed income strategies continue to yield positive results, with long-dated bonds performing well both domestically and internationally. As central banks maintain their easing cycles, we are focusing on high-quality corporate and municipal bonds, preferred stocks, and convertibles to capitalize on these favorable conditions.
Economic Outlook and Strategic Investment
On the economic front, disinflationary trends are evident, with the labor market cooling and non-farm payrolls stabilizing. The Federal Reserve’s dovish stance hints at potential rate cuts, influencing market dynamics. Globally, significant activities in Japan, China, and England have impacted currency markets, notably the JPY/USD exchange rate. August underscores the importance of strategic investment, with diversification and selective stock picking being crucial in navigating the evolving market conditions.
Market Commentary Report
At Solist, we conduct weekly research and release monthly reports for our readers. With comprehensive graphs, commentaries, benchmarks, and charts, our detailed reports make complex economic information accessible and easy to digest. Stay tuned for our next forecast and in-depth analysis to navigate the financial landscape effectively. Read the full report below and contact us with questions, concerns, and feedback.
