At Tale of Two Markets: 2024 Outlook

If 2022 was the worst of times, 2023 was the best of times. The S&P 500 returned 24% in US dollar terms. The NASDAQ returned an even greater 43%. This was a welcome reprieve as the two indices returned -18% and -33% respectively in 2022. The Russell 2000 Index, which tracks the performance of U.S. small and medium size equities, returned 15%, although all the gains came in the final two months as the index was down 6% as late as October 30, 2023.