Broker Check

Salt Lake City Office

2150 East 1300 South,

Suite 500
Salt Lake City, UT 84106

February 2024

Happy Groundhog Day!  Punxsutawney Phil did not see his shadow, predicting that an early spring is on its way.  But before you put away your winter coats, it’s worth noting that Phil’s accuracy rate is about 36% over the last 10 years.

 

A more historically reliable predictor that has us excited is the January Effect.  The conventional wisdom is “as goes January, so goes the full year” when it comes to the stock market.  The S&P finished out January up 2.12%.

 

The January Effect is not a sure thing, but based on a lot of other factors, including strong job numbers released today and the Feds holding rates steady, while still discussing future reductions, we are starting February upbeat about the rest of 2024.

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