During The Quarter - Q3 2024
Events that occurred during the third quarter (July 1 - Sept 30, 2024)
During the quarter: Paris hosted the summer Olympics, President Biden dropped out of the 2024 race, there were two assassination attempts on former President Trump, the Dow Jones dropped more that 1,000 points on August 5th, the Japanese Nikkei stock market fell 12.4% in one session as the Yen carry trade unwinds, two presidential debates occurred, VP Harris became the Democrat nominee, U.S. National Debt surpasses $35 Trillion, Ukraine war continues, U.S. Bureau of Labor Statistics (BLS) stated 818,000 fewer jobs were created last year than previously reported, the yield curve uninverted, the Federal Reserve cut rates by 50 basis points, Hurricane Helene brought historic flooding and devastation to the south east, the November Presidential election polling remained close, Chinese stock market rockets higher after China announced massive stimulus, Iran fires missiles into Israel, 45,000 U.S. port workers went on strike at midnight on September 30th. Whew! Despite all of that (and that was A LOT), markets clawed higher as global central banks indicate more rate cuts and governments around the world promise more deficit spending, despite markets at all-time highs and low unemployment.