A strategic start for 2024?

As 2023 concluded, the S&P 500 closed near its all-time high, boasting a 24.32% annual increase. Similarly, the FTSE100 finished the year above Pre-Covid levels. Despite the backdrop of rising interest rates, in the US we saw a booming tech sector with shares like Nvidia and Meta getting particularly great results (233.47% and 183.77% respectively). Meanwhile, in the UK, Rolls-Royce experienced a staggering surge of 219.85%.

Although it’s still early days, as we start the new year, the market indexes have retraced somewhat, with the S&P down by around -2% and the FTSE close to -1.5%. It is interesting to think that as new technologies develop and improve they can continue to drive momentum for 2024.

However, the important question to consider is whether we are entering a cautious market scenario or simply witnessing a strategic move to capitalize on the profits accrued in 2023?

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The share markets are way overpriced and we will see some big corrections soon… Blackstone will pop. Trump will be re-elected… brics will have a bigger GDP than the west nations. 2024 will be a turning point in a lot of nations being a year where there will be an unprecedented amount of elections.

Watch this space.