After the NVIDIA-driven first half of the year, equity markets broadened during the third quarter. Small cap stocks, emerging and developed non-US markets posted double-digit year-to-date gains. Large cap US growth stocks still retain the lead due to their strong performance during the first half of the year. Chinese stocks returned 21.8% year-to-date after a 30+% gain in the last week of September following the announcement of a large government stimulus package.
Markets are shaped by what I call ‘memory banks.’ Experience shapes memory; memory shapes our view of the future.– Peter Bernstei
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3rd Quarter 2024 Market Commentary
After the NVIDIA-driven first half of the year, equity markets broadened during the third quarter. Small cap stocks, emerging and developed non-US markets posted double-digit year-to-date gains. Large cap US growth stocks still retain the lead due to their strong performance during the first half of the year. Chinese stocks returned 21.8% year-to-date after a 30+% gain in the last week of September following the announcement of a large government stimulus package.
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