First Quarter 2024 Market Newsletter

Markets

SHARE THIS POST

Read the full First Quarter 2024 Market Newsletter HERE

EXECUTIVE SUMMARY

Global stocks rose in the first quarter and the rally in US stocks broadened as stocks other than the ‘Magnificent 7’ joined in. High interest rates and concerns about a recession hurt stocks of small companies.

The US economy is sailing smoothly so far. There are plenty of jobs. Both consumers and companies continue to spend. The manufacturing sector has recovered and is growing like the services sector.

Inflation has declined from the peak in 2022, but the last mile to bring it to a level that would be acceptable to the Federal Reserve has been bumpy. This has led to uncertainty among investors about the direction and magnitude of interest rates.

Declining valuation of office spaces is a concern as it could adversely impact municipal finances as well as smaller banks. However, as of now the situation seems well contained.

US companies are expected to report that earnings grew 3.2% in the first quarter.

Currently, stocks are priced at 21 times their expected earnings over the next 12 months, which is above the 30-year average.

Historically, no matter which party got the reins to the White House, stocks have appreciated over time.

Historically, reaching an all-time was not a reason for stocks to drop. In the past, they have continued to appreciate.

Subscribe to our quarterly newsletter and get insights in your inbox

© 2024 . SARSI LLC. ALL RIGHTS RESERVED

Disclaimer

Sarsi, LLC (“Sarsi” or “the firm”) is a registered investment adviser located in New Jersey. Sarsi and its representatives are in compliance with the current registration mandates imposed on state registered investment advisers in those states where registration is required. The firm may also transact business in those states in which it maintains registration or qualifies for a corresponding exemption there from.

Use of this website is limited to the dissemination of general information regarding Sarsi’s investment advisory services offered to individuals residing in those states where providing such information is not prohibited by applicable law. Accordingly, the publication of Sarsi’s website on the internet should not be construed by any consumer as a solicitation or attempt to effect transactions in securities, or the rendering of personalized investment advice. Nothing on this website should be interpreted in any manner whatsoever as a substitute for, or the receipt of, personalized investment advice. Certain of the information contained herein may not be suitable for everyone and may be derived from external sources that are not affiliated with Sarsi. While Sarsi believes these sources to be reputable, the Firm makes no representation or guarantee as to the accuracy, timeliness or suitability, completeness or relevance of the information prepared by any unaffiliated third-party, whether linked to the website or referenced herein. All such information is provided for convenience purposes only and all users therefore should be guided accordingly. Any subsequent, direct communication with a prospective client of the Firm will be initiated by a representative whom is either registered or exempt from registration in the state in which the prospect resides.

Detailed information pertaining to Sarsi’s qualifications, business operations, fee schedule service offerings can be found in the Firm’s Disclosure Brochure which appears as Part 2A of Sarsi’s Form ADV. Additional information about Sarsi, as well as a current version of the Firm’s Disclosure Brochure, is available on the Investment Advisor Public Disclosure website which is operated by the U.S. Securities and Exchange Commission, at www.adviserinfo.sec.gov

ACCESS TO THE FIRM’S WEBSITE IS PROVIDE FOR INFORMATION PURPOSES ONLY AND WITHOUT WARRANTIES-EXPRESS OR IMPLIED-WITH REGARD TO THE ACCURACY, TIMELINESS OR RESULTS OBTAINED FROM ANY INFORMATION POSTED ON THIS WEBSITE OR ANY THIRD-PARTY WEBSITE LINKED HERETO.