The third quarter of 2024 defied seasonal trends, delivering stronger-than-expected equity performance during typically weak months like August and September. Fueled by a 10% rise in corporate earnings and the first Federal Reserve rate cut since 2020, both stocks and bonds rallied, signaling a potentially successful soft landing for the U.S. economy.
With unemployment steady at 4.1% and inflation cooling to 2.5%, economic fundamentals continue to support bullish momentum. Fixed income is beginning to outperform cash as interest rates decline, and historical data shows election years and all-time market highs are no reason to stay on the sidelines.
At Provista Wealth Advisors, we remain optimistic about the long-term outlook and encourage investors to stay disciplined and fully invested.