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The Market in Five Charts: September 2024

“There are decades where nothing happens, and there are weeks where decades happen.”

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Pitcairn Insights

September 5, 2024

To say the summer of 2024 was volatile would be an understatement. June to the end of August was marked by unexpected events that created uncertainty across the political landscape and financial markets. In addition to everything that was happening in the U.S. presidential race, growing concerns about an economic slowdown and rising interest rates in Japan caused market drawdowns.

In this month’s Market in 5 Charts, Chief Global Strategist Rick Pitcairn says despite the summer’s volatility, the market reached new highs by Labor Day, with broader participation from more sectors, such as financials, utilities, and real estate, rather than just tech stocks. Meanwhile, the market is awaiting the Federal Reserve’s decision on interest rates, with an expectation of cuts in the future. Additionally, political uncertainty from events over the summer, including shifts in election odds, has yet to impact the market significantly. As always, Pitcairn advises against making investment decisions based on political developments. While the market faces economic and political uncertainties, long-term trends suggest equities will continue to perform well.

 

 

 

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