The third quarter of 2024 has been a rollercoaster ride for the stock market, with the S&P 500 showing a solid 5.9% rise in total return. Despite the looming 2024 presidential election, market activity has remained strong due to a robust economy, corporate earnings, and favorable employment figures. The Federal Reserve has responded by cutting interest rates and is expected to make further cuts in the coming months.
At Extreme Investor Network, we are closely monitoring the shifting market dynamics and their impact on investment opportunities. The third quarter saw continued sector breadth widening and positive market performance, with gains in July, August, and September. The Fed’s decision to cut interest rates by 50 basis points in September marked its first rate cut in over four years, reflecting concerns about a potential recession.
Inflation remains a key concern for investors, but recent data shows progress towards the Fed’s target of 2%. Market interest rates are expected to continue fluctuating, with the 10-year Treasury yield at 3.75% as of September. The jobs economy showed mixed results in the third quarter, with unexpected strength in September following weak July and August readings.
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