Midyear Outlook 2024: Still Waiting for the Turn

By LPL Financial Research

As we reach the halfway point of 2024, a sense of persistence defines the economic and market landscape. Trends from late 2023 have continued, with surprisingly resilient economic growth mixed with stubborn but decelerating inflation. Equity markets have thrived and regained all the lost ground from 2022. On the other hand, the bond market still grapples with policy uncertainty and remains range bound for the most part.

While it's tempting to forecast a continuation of these trends, LPL Research's analysis suggests an impending shift. The economy looks poised to cool down in the second half, and that will have an impact on both interest rates and markets.

LPL Research believes investors have more options in today's higher-rate environment. Prioritizing income generation and remaining patient and disciplined with stocks will be key to navigating uncertainty with continued success.

To learn more about the opportunities and challenges through the end of the year – including how the election can impact markets – read the 2024 Midyear Outlook today.

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Edward R. Lytle, ChFC® RICP®

Founder / LPL Financial Advisor