As we move through 2024, here’s what we’re seeing in the markets and how we’re staying proactive at TopRankinMortgages:
- Volatility in Markets:
- The first half of 2024 was calm, but August brought increased volatility, especially in tech-heavy and overseas markets.
- The S&P 500 remains strong, driven by artificial intelligence (AI), with tech and communication services making up over 40% of the index.
- Proactive Adjustments:
- We’re actively rebalancing to reduce risk and ensure no single sector dominates.
- When tech weakened, we reallocated to positions adjusted earlier, capturing new opportunities.
- Resilient U.S. Economy:
- The U.S. economy is supported by job gains, income growth, strong consumer balance sheets, and productivity improvements.
- Recent Fed comments suggest possible rate cuts later this year, which could help sustain growth.
- Positive Global Developments:
- European markets have improved, with rate cuts from the European Central Bank boosting economic activity.
- We’ve increased exposure to European markets and added Veolia Environmental Services, aligning with long-term investment in water infrastructure.
- Election Outlook:
- The upcoming U.S. election may cause market volatility, but we’ve positioned investments to perform well regardless of the outcome.
- We’re holding some cash to stay flexible and seize opportunities as they arise.
At TopRankinMortgages, we remain dedicated to helping you stay ahead of market changes while keeping an eye on long-term financial goals.
