To all who joined us at our 25th Anniversary event with Chief Market Strategist at Carson Wealth, Ryan Detrick, we want to express our heartfelt thanks for your participation.
And for those who couldn’t make it, we hope the summary we include below brings you up to speed and provides valuable insights into what we see on the horizon.
Your support means the world to us, and we’re grateful for the opportunity to share our perspectives with you.
In the dynamic world of economics and stock markets, staying informed is key to making sound decisions. Despite the uncertainties and fears surrounding a possible recession and market downturn in 2023, we stayed positive and our optimism paid off. The economy surprised us all with robust growth, leading to a surge in stock prices. As we look ahead to 2024, we remain optimistic, armed with insights into what lies ahead.
- Despite concerns of a recession and bear market in 2023, we remained optimistic about the economy and stock market.
- The economy surprised many by growing close to 6%, outpacing expectations and even surpassing China’s growth rate.
- Stocks saw significant gains, with the S&P 500 up nearly 25%.
- Heading into 2024, we anticipate the economy to outperform expectations once again, with higher profit margins, record earnings, and strong investment driving growth.
- The US consumer is expected to remain healthy, supported by a robust employment backdrop and higher wages.
- Despite higher overall debt levels, consumers are in good shape due to increased equity, leading to a strong economy.
- Inflation, which peaked at over 9% in summer 2022, has decreased to around 3%, and is expected to trend lower as supply chains normalize.
- Lower inflation could prompt the Federal Reserve to implement multiple rate cuts this year, benefiting consumers, particularly in the form of reduced mortgage rates.
- Recent quarters have seen a significant increase in productivity, which we believe is crucial for controlling inflation, increasing wages, and facilitating potential rate cuts by the Fed.
- Overall, we anticipate solid low double-digit returns in stocks this year, with the economy avoiding a recession, supporting the continued bullish market outlook.
As we embark on this journey through 2024, let’s remain optimistic and adaptable to the opportunities and challenges that lie ahead. Together, we can navigate the ever-changing landscape of the economy and markets, making informed decisions that lead to success.
Thank you for being part of our community, and we look forward to the exciting year ahead!
Click here to view Ryan’s presentation slides.
S&P 500 – A capitalization-weighted index of 500 stocks designed to measure performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries.
