March 25, 2024

S&P 500 Posts Best Week of the Year

Latest Publications S&P 500 Posts Best Week of the Year

Three Rate Cuts Affirmed

All three major U.S. equity indices posted strong gains last week with the S&P 500 capping its largest weekly gain of the year. Investor appetites soared after Federal Reserve policymakers affirmed projections for three rate cuts this year at their March FOMC policy meeting. Moreover, Fed Chairman Powell did not push back against Wall Street expectations for 2024 rate cuts to begin in June. Bullish sentiment was also supported by the continuing upswell in artificial intelligence (AI) related companies and an improving macro-economic outlook.

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The Weekly 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.