Many Americans will be tuning in to tonight’s first presidential debate not just for the entertainment but to gauge what policies the candidates lay out and how they could affect their portfolios. But the truth is that nearly half the world’s population will face national elections this year, with several already concluded. It’s important to keep in mind that these elections will impact those portfolios with significant international exposure and those with U.S. exposure. 

So far in 2024, the U.S. economy has traveled a winding road. As we began the year, expectations were for turbulence ahead, given stubbornly high inflation and interest rates, restrictive monetary policy from the Fed, and a slowdown in consumer and business spending. Instead, strength in hiring fueled consumer spending despite rising rates. Still, GDP growth slowed to 1.3 percent in the first quarter (from 3.4 percent in the fourth quarter of 2023), leading to more uncertainty on where the economy will go in the second half of the year. 

Each week, we break down the latest U.S. economic reports, including what the results mean for the overall health of the economy. Here, you will find how economists’ forecasts compare with actual results, key takeaways to consider, as well as a list of what’s on tap for the week ahead.

As the fears about Y2K dissipated and the dot-com boom entered its last few months, the world’s equity investment opportunity set was split roughly 50 percent in the U.S. and 50 percent in the rest of the world. Fast-forward to today, and approximately 64 percent of global market capitalization is in the U.S. This shift has resulted from the U.S. equity market’s outperformance since the end of the great financial crisis more than a decade ago.

Markets rallied in May, with all three major U.S. equity indices up for the month. The S&P 500 gained 4.96 percent, the Dow Jones Industrial Average grew 2.58 percent, and the Nasdaq Composite soared 6.98 percent. Equity markets were supported by solid earnings growth and lower interest rates during the month. 

Each week, we break down the latest U.S. economic reports, including what the results mean for the overall health of the economy. Here, you will find how economists’ forecasts compare with actual results, key takeaways to consider, as well as a list of what’s on tap for the week ahead.

The Federal Open Market Committee (FOMC) met this week and voted unanimously to hold rates steady for the seventh consecutive meeting, leaving its policy range at 5.25 percent to 5.5 percent. This decision was widely anticipated, with futures markets pricing in a near-zero percent chance of a rate cut in the days and weeks leading up to the meeting.

May’s reports showed signs of continued economic growth. Hiring accelerated during the month, with 272,000 jobs added. Service sector and consumer confidence both improved in May, while the yield curve inversion widened.

Each week, we break down the latest U.S. economic reports, including what the results mean for the overall health of the economy. Here, you will find how economists’ forecasts compare with actual results, key takeaways to consider, as well as a list of what’s on tap for the week ahead.

Markets rallied in May, with U.S. stocks up mid-single digits for the month. This was an encouraging rebound following the declines we saw in April, and both the S&P 500 and Nasdaq Composite rose to new record highs during the month. International markets were also positive in May, with developed and emerging markets ending the month with gains. Even fixed income did well, as falling interest rates supported bond prices in May.

When a Cinderella story comes out of nowhere to win a championship, fans are ecstatic (just like I was watching Tom Brady win his first Super Bowl against the heavily favored Rams). But once teams have experienced success, the bar will continue to rise—and teams must also rise to meet the next challenge.

Most stock indices were up from 3 percent to 6 percent in May, and the S&P 500 and Nasdaq reached new all-time highs. The April employment report and declines in consumer and business confidence helped calm investor concerns about inflation and took interest rates down a bit. Companies showed strong earnings growth, providing a solid foundation for the market.

Each week, we break down the latest U.S. economic reports, including what the results mean for the overall health of the economy. Here, you will find how economists’ forecasts compare with actual results, key takeaways to consider, as well as a list of what’s on tap for the week ahead.