Market Outlook - February 2024

With both the TSE and the S&P 500 up sharply YTD the big question now is whether the current pace is sustainable. The other issue is inflation and if it can remain at current levels and go lower to the 2-2.5% target. Considering we’ve already achieved our year end price target for the S&P 500 we remain patient for the time being before we make any adjustments to the forecast. It is obvious to us now that the markets are reflecting a speculative trend exhibited by investor enthusiasm. Regardless, we are of the belief that the market has gotten a little ahead of itself at this point in the year and could use a breather. Market weakness in our view is inevitable, not something to be fearful of and instead we view it as an opportunity to increase exposure to positions in the portfolio where we have high conviction.

For a full copy of our February 2024 market commentary, please email us at msbwealth@nbpcd.com