April 01, 2024

First Quarter 2024 Recap

Latest Publications First Quarter 2024 Recap

The S&P 500 had another stellar quarterly performance, surging nearly 10.6% in the first quarter, its best start to a year since 2019 and follows an 11.7% gain in the final quarter of 2023. Quite notably, the large cap index has only experienced back-to-back double-digit quarterly gains on five occasions since 1950. Catalysts behind the sustained rally include a stronger-than-expected rise in fourth quarter earnings, broadening interest in artificial intelligence beyond semiconductor chipmakers, continued easing in inflation, and an upward revision to economic (GDP) growth. Moreover, fears for a recession have nearly vanished, helping Wall Street begin a countdown toward the Federal Reserve beginning to ease interest rates later this year.

View Options
View as PDF


The Quarterly 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.