Insights

Autumn Outlook

4 October 2024

Global stocks experienced volatility this quarter as they weathered declines in US tech and Japanese equities. However, most regions ended the quarter with small gains following central bank rate cuts. Canada outperformed other developed markets, while the US lagged due to weakening economic activity and a slump in major tech stocks. In addition, a slowdown in the job market caused the Federal Reserve to switch its attention from inflation to promoting growth as it cut interest rates by 0.5%. Meanwhile, China, the world’s second largest economy, remains mired in problems. The People’s Bank of China finally announced a wave of stimulus in response to low consumer demand, deflation, declining house prices and distressed debt within its economy.