November 2024 Market Update & Economic Outlook

In this month’s Market Update and Economic Outlook, Martin Wildy, CFA, and Ryan Ohlson, MBA, analyze the potential impact of the Fed’s upcoming meetings and the market’s anticipation of another rate cut. They explore how recent natural disasters, a major strike, and robust GDP growth influence the Fed’s monetary policy decisions.

The discussion also covers trends from the earnings season, with a significant majority of companies exceeding earnings expectations, and highlights sectors like banking and utilities, particularly noting the increased energy demand from AI-driven power needs. Additionally, they review data on historical election impacts on markets, offering insights on whether investors should react to the upcoming election or focus on fundamental economic indicators instead.

Finally, Martin considers how market behavior may hint at expectations for election outcomes, specifically noting recent trends in interest rates and bond yields.