Tech Risks and Economic Shifts

Monthly Market and Economic Update – October 2024

Peter Flannery  Financial Adviser CFP

 

 

 

“People calculate too much and think too little.”

Charlie Munger

Key Points: 

  • Tech stocks now represent 31.3% of the US market, raising correction fears.

  • The Magnificent 7’s profit margins hit 28%, outpacing the 2000 tech bubble leaders.

  • Dow Jones rose 1.85% in September 2024, defying usual volatility trends.

  • The US Fed slashed interest rates by 50 basis points as inflation cools.

 

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