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3Q 2024 Capital Markets Outlook Webcast: Distinguishing Signal from Noise

Presented by Rick A. Brink, CFA, Eric WinogradWalt Czaicki, CFA, Daryl ClementsScott DiMaggio, CFA

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Another all-time high for equity markets, another round of question marks. Many of the questions are familiar as a critical transition point looms. The US economy still seems on track toward normal, but a pendulum has swung: when it comes to the picture painted by macro data, many investors’ primary worry has shifted from “too strong” to “too weak.”

On top of a seemingly noisy macroeconomic picture, equity market returns have been decidedly top-heavy, driven by a handful of beneficiaries from the artificial intelligence (AI) wave. It’s hard to argue against the quality of those names, but they’ll need to back up lofty earnings expectations in the quarters ahead to continue their run. In the meantime, there’s life—and opportunity—beyond the kingpins.


What We Discussed

  1. The State of the “Trinity” Today: Inflation, growth, and labor's impact on rates, with the Fed navigating the "higher for longer" debate. We examined the drivers of growth and inflation.

  2. Magnificent Seven vs. the Others: Stocks are rolling but historically low volatility, high index valuations and elevated earnings expectations argue for looking beyond a few high fliers.

  3. Bonds and the Bumpy Road to Normalization: Q2 had volatile rates but ended with little change. Despite signs of normalization from the US economy, unsettled rates suggest a cautious approach to investing.


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Get Caught Up on Last Quarter’s Outlook

April  11,  2024 / 69 min

Presented by Richard A. Brink, CFA,  Eric WinogradWalt Czaicki, CFA; Scott DiMaggio, CFA, and Matthew Norton

2Q:24 Capital Markets Outlook: Standing at the Intersection of Hope and Fear

Despite a sometimes bumpy road, we continue to believe that the economy is headed towards normalization. However, capital markets started off 2024 driven by both hope and an element of fear. Join AllianceBernstein Senior Investment Strategist, Walt Czaicki, as he discusses the drivers of market returns in the first quarter and how investors can leverage current market opportunities to bring more hope and less fear as they navigate markets in 2024.