February 05, 2024

Winning Streak Continues

Latest Publications Winning Streak Continues

Large Caps Outperform

The S&P 500 ended positive for another week, shaking off a steep 1.6% Wednesday decline after Fed Chairman Powell dashed hopes for an early start to 2024 rate cuts. As widely expected, Fed policymakers held interest rates unchanged at their January 31 meeting, but at the Chairman’s press conference Powell said a March rate cut is unlikely as more solid evidence is needed that “inflation is sustainably heading toward the 2% target.” Improving earnings data and a strong January jobs report added to “soft-landing” evidence that U.S. may avoid negative GDP this year.

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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.