Markets and Economy

2024 Outlook: Equities

By Jason Herried | Johnson Financial Group • February 02, 2024

2 minute read time

In our quarterly Economic & Market Outlook, we reviewed 2023 market drivers and provided summary 2024 outlooks for stocks, bonds and alternative investments. We’ll now provide additional detail on our views about 2024—starting this week with equity markets.

2023 Review

First, let’s summarize where we’re starting. As a whole, 2023 turned out to be a much better year for the economy and stock market thanks to a fourth quarter rally triggered by a one percentage-point decline in key interest rates. In the end, investor caution proved unnecessary as the pace of economic growth was solid (whereas recession seemed likely when the year began). In addition, inflation moderated, which allowed the Fed to signal in November that it had likely made its last rate increase for this cycle.

Download a copy of the full report providing out outlook on the economy, markets, and how we’re currently positioning portfolios.

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This information is for educational and illustrative purposes only and should not be used or construed as financial advice, an offer to sell, a solicitation, an offer to buy or a recommendation for any security. Opinions expressed herein are as of the date of this report and do not necessarily represent the views of Johnson Financial Group and/or its affiliates. Johnson Financial Group and/or its affiliates may issue reports or have opinions that are inconsistent with this report. Johnson Financial Group and/or its affiliates do not warrant the accuracy or completeness of information contained herein. Such information is subject to change without notice and is not intended to influence your investment decisions. Johnson Financial Group and/or its affiliates do not provide legal or tax advice to clients. You should review your particular circumstances with your independent legal and tax advisors. Whether any planned tax result is realized by you depends on the specific facts of your own situation at the time your taxes are prepared. Past performance is no guarantee of future results. All performance data, while deemed obtained from reliable sources, are not guaranteed for accuracy. Not for use as a primary basis of investment decisions. Not to be construed to meet the needs of any particular investor. Asset allocation and diversification do not assure or guarantee better performance and cannot eliminate the risk of investment losses. Certain investments, like real estate, equity investments and fixed income securities, carry a certain degree of risk and may not be suitable for all investors. An investor could lose all or a substantial amount of his or her investment. Johnson Financial Group is the parent company of Johnson Bank and Johnson Wealth Inc. NOT FDIC INSURED * NO BANK GUARANTEE * MAY LOSE VALUE

ABOUT THE AUTHOR

Jason Herried

SVP Director of Equity Strategies, Portfolio Manager CFA® | Johnson Financial Group

As Senior Vice President, Director of Equity Strategy and Wealth Portfolio Manager, Jason develops and builds customized portfolio strategies for our individual, institutional and non–profit clients. This includes investment policy review and development, portfolio construction, manager and security selection and performance reporting. Jason also serves as a member of the firm's Investment Committee and leads the Equity Strategy Group.