To say markets sprang to life in November is an understatement. Basically many indicies had returns last month that would be decent in most full years. The strong markets in November were accompanied by impressive performance in most sectors making up the S&P 500.
Going forward, December has generally been a strong month for markets. Apart from the possibility of a significant non-predictable event, the biggest factor influencing next year’s market is and probably will remain the combination of the outlook for inflation and with it, whether interest rates stay high or come down.
Whether the strong results continue into 2024 remains an interesting question. It is a presidential election year. In such years, the well known
phrase “markets hate uncertainty,” is well-demonstrated.
Our November 2023 Market Commentary and review provided by provided by Peter W. Tuz, CFA, CFP®, President & Director, Portfolio Manager, Chase Investment Counsel.