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2023 Review and Outlook for 2024:

Post written by Douglas Jaffee Managing Director at InvestorCom, LLC


The S&P 500 surged higher by 24.23% in 2023 though the gains were top heavy led by Information Technology (+56.39%); Communication Services (+54.36%) and Consumer Discretionary (+41.04). This was due largely to the outsized gains of the ‘Magnificent Seven’ stocks with AAPL, MSFT and NVDA powering Information Technology; GOOG and META propelling Communication Services; and #AMZN and #TSLA leading the Consumer Discretionary group.

At the end of 2023, Bloomberg published an article Five Things to Look For in US Stocks in 2024 as S&P Nears Record ( https://lnkd.in/epdH_n5Q ) where authors Jessica Menton and Ishika Mookerjee noted that the Magnificent Seven “are expected to post 22% earnings growth next year, twice the S&P 500’s advance” while questioning, “how much of that is already baked into share prices” to propel gains into 2024.

Meanwhile, the four other possible tailwinds for 2024 were rate cuts from the Federal Reserve, the possibility of similar moves by the European counterparts (ECB and BOE), probable stimulus from Asia’s three largest economies (China, Japan and India), and the US Presidential election. Some of the largest changes to institutional ownership occur in the first quarter as portfolio managers actively reposition their holdings to account for these developments and others which allows for new opportunities for the IR community to engage with the buy side.

January is the ideal time to review investor outreach objectives for the year ahead to ensure that they are properly aligned with broader market trends.

Contact us InvestorCom https://investor-com.com/ to make sure that your IR initiatives are on track for 2024!

 

Post written by Douglas Jaffee Managing Director at InvestorCom, LLC

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