As we get ready to turn the page on 2023 and welcome the new year with all its possibilities, we’d like to take some time to reflect on the year that was—the notable events, trends, and developments that defined our economics, policy, business, and culture—and look a bit into the future to see what 2024 might bring.
2023 in Review
Economy & Markets
Stocks rebounded from the bear market of 2022 and rallied during the first half of 2023. Stocks pulled back during the fall on concerns about the outlook for inflation and fear that the Federal Reserve may keep short-term rates “higher for longer” than the market anticipated.3
Business & Technology Trends
Sales of fully electric vehicles (EV) in the United States are expected to break the one million vehicle barrier in 2023 for the first time ever. Price cuts, wider variety, and more government and manufacturing incentives have helped boost EV sales.5
What to Watch for in 2024
With 2024 being a presidential election year, markets will be watched closely. The S&P 500 has had a positive return in nineteen of the last twenty-three election years since 1928, or 83% of the time. Past performance does not guarantee future results.7
More Human Interest
A Look Ahead & Back
1. Statista.com, October 23, 2023
This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm.