ACG’S January 2024 Capital Markets Review

(Down the full report HERE)

Market Highlights

• US Large Cap equities maintained momentum into the new year and posted new all-time highs on the back of strong economic data.
• The S&P 500 was up +1.68% in January, again led by the Magnificent Seven.
• The Information Technology (+3.95%) and Communication Services (+5.02%) sectors, big winners over the prior year, enjoyed strong months. Financials and Health Care also rose more than +3.00%. 
• Growth stocks continued to outpace their Value counterparts with the Russell 1000 Growth Index rising +2.49% in January compared to +0.10% for the Russell 1000 Value.
• Developed International equities measured by the MSCI EAFE Index were up a modest +0.58% for the month, while Emerging Markets struggled with the MSCI Emerging Markets Index falling -4.64% due to some weakness in China and South America.
•  Fixed income markets were relatively quiet during the month with the benchmark 10-year Treasury yield moving from 3.88% to 3.92% in January. The Bloomberg US Aggregate Index was down -0.27% for the month.

Sources: Morningstar Direct, MSCI

Download the full report HERE to see index returns and more.