
January Market Update
US equities were higher in Q4, with the S&P 500 delivering a 2.4% return. One major highlight was that all 4 quarters were positive--the last time that happened was in 2021, and the markets ended the year with its 5th straight positive quarter. The quarterly return was the most muted of the four quarters. November delivered almost a 6% return—the best month of the year. The month was fueled by a 2.5% gain on November 6--following a smooth and uncontested election—the strongest post-election day performance dating back to 1928.