The equity market has continued its climb, with the S&P 500, Dow Jones Industrial Average, and Nasdaq indices all hitting record highs in 2024 to close out the third quarter. But if you’ve been watching the markets, Q3 was full of ups and downs. Catch our condensed market update video (recorded October 3rd) below. Since the recording of this video, there are new developments on topics mentioned:

• • The longshoremen strikes ended on October 3rd after reaching a tentative agreement and little damage was done. However, we still expect volatility ahead.
  • The nonfarm payrolls report released October 4th came in with a whopping 254,000 payroll increase in September, easily beating the consensus expected 150,000.
  • Earnings continue to grow with an estimated year-over-year growth rate of 7.8%. S&P 500 profit margins have remained stable, landing at a net 12.1% estimate for Q3.

For more information, see our written commentary here.