May 01, 2024

April 2024 Recap

Latest Publications April 2024 Recap

U.S. stocks ended April on a sour note with the S&P 500 falling 1.57% on the final trading day of the month, its worst single-day loss since January 31. Investors reeled after the government released a report showing employment costs rose 1.2% in the first quarter, its largest increase in a year and up 4.2% from a year ago. The increase signals renewed wage pressures and provides additional evidence that persistent inflation may force the Federal Reserve to keep interest rates higher for even longer than previously believed.

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The Monthly Recap is published by Cetera Investment Management LLC, an SEC registered adviser owned by Cetera Financial Group. Cetera Investment Management provides market perspectives, portfolio guidance, model management, and other investment advice to its affiliated broker-dealers, dually registered broker-dealers and registered investment advisers.