The Unstoppable Bull Market of 2024
Introduction
The bull market in stocks that kicked off in October 2022 has shown remarkable resilience and strength throughout 2024, with no signs of slowing down. In fact, it seems to be picking up speed, setting the stage for potentially record-breaking gains.
S&P 500 Performance
- The S&P 500 is on track for its second consecutive year of 20%-plus gains, a rare feat in the world of investing.
- As of midday on Thursday, the index was poised to achieve its strongest return during the first nine months of the year since 1997, with a preliminary gain of 20.2%.
- The final outcome will hinge on the market’s performance on Monday, the last trading day of the month and quarter.
Performance of Other Indexes
- The Dow Jones Industrial Average has posted an 11.8% gain year to date, marking its best performance through the first three quarters of the year since 2019.
- The Nasdaq Composite has surged 20.6% YTD, on pace for its strongest performance through the first three quarters of the year since 2023.
- The Russell 2000 has seen an 8.9% increase YTD, setting it up for its best performance through the first three quarters of the year since 2021.
Outlook for the Future
- Historical data suggests that stocks tend to perform well in the fourth quarter, with the final three months of the year typically delivering the strongest returns.
In conclusion, the current market conditions are favorable for investors, with multiple indexes posting impressive gains. The momentum of the bull market shows no signs of slowing down, and historical data indicates that the trend may continue in the months ahead.
This information is crucial for investors to consider when making decisions about their portfolios, as the current market conditions can have a significant impact on their financial future. It is essential to stay informed and adapt investment strategies accordingly to capitalize on the opportunities presented by the ongoing bull market of 2024.