February 2024 Market Update

February 29, 2024

In this February Market Update, Brian Andrew, CFA®, Chief Investment Officer, reviews this month’s market trends and the implications for the upcoming month.

Key Takeaways:

Stock market continued its upward trajectory, with gains of 6-7% in February.
Bond yields increased, with the 10-year Treasury yield rising from 3.85% to 4.25%.
Momentum stocks continued to perform well, fueled by steady price rises and investor interest.
Majority of companies surpassed earnings expectations for Q4 2023, maintaining estimates for 2024 earnings growth above 10%.
Labor market showed signs of weakness, with increased layoffs and rising unemployment claims in some sectors, signaling potential challenges for economic growth.
Geopolitical concerns contribute to a backdrop of better earnings but potential slower economic growth, prompting a reduction in portfolio risk.

We hope you find this video educational and informative. If you have any questions, please contact your Merit Financial Advisor.

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