Even though the broader stock market showed signs of pulling back, so far, signs don’t show that it’s time to panic. The S&P 500 ($SPX) was up 10.6%, the Dow Jones Industrial Average ($INDU) was up 5.6%, and the tech-heavy Nasdaq was up over 9% in Q1 2024. All three indexes hit new highs in Q1. With an extended stock market, you can’t rule out the possibility of a correction. A Macro Look At the Stock Market The US economy keeps growing, the labor market is strong, and inflation is higher than the Fed’s 2% target. The narrative is that the Fed may have fewer interest rate cuts in 2024 than the three suggested at the last meeting. Yet investors continue to invest in US stocks. Commodity prices have been moving higher. Oil prices have broken out of their downtrend and are moving higher. Gold prices have hit all-time highs,…
