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Columns, March/April 2024 |
July 2024

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Forté Capital’s Selected Statistics

Annualized Quarterly Real U.S. GDP Growth Q1-2021 through Q1-2024

The first-quarter GDP estimate was weaker than expected, coming in at 1.6%. It confirmed a downward trend and raises the specter of a recession rather than a soft landing. The worry is that inflation, which ticked up in the last two months, may remain higher than Federal Reserve targets and create a stagflationary environment—that is, low growth with high inflation.

U.S. & World Equity Indexes; 4/29/24; YTD Return S&P 500; 5,112; 7.18% Dow Jones Industrials; 38,318; 1.67% NASDAQ Composite; 17,826; 5.78% Shanghai Composite (China); 3,088; 4.64% S&P BSE Sensex (India); 74,671; 3.37% Nikkei Stock Avg (Japan); 37,628; 13.36% CAC 40 (France); 8,088; 7.62% DAX (Germany); 18,161; 8.26% FTSE 100 (U.K.); 8,138; 5.57%
Selected Interest Rates; 4/29/24; Prior Period 15-Year Mortgage; 6.44%; 6.29% 30-Year Mortgage; 7.17%; 6.90% 5-Year Treasury Bond; 4.68%; 4.28% 10-Year Treasury Bond; 4.67%; 4.26% 30-Year Treasury Bond; 4.78%; 4.37%

Treasury Yield Curve, as of 4/29/2024

The hope that the Federal Reserve will lower short-term interest rates in the first half of 2024 has all but evaporated. In fact, some observers believe that the Federal Reserve will stay the course for the remainer of the year. Unless there is a shift in the inflation data or clear signs of a significant recession, the Federal Reserve might hold rates into 2025.

Key Economic Statistics; Most Recent; Prior Period National Producer Price Index; 0.20%; 0.60% Consumer Price Index; 0.40%; 0.40% Unemployment Rate; 3.80%; 3.70% ISM Manufacturing Index; 50.30; 47.80 ISM Services Index; 51.40; 52.60 Change in Non-Farm Payroll Emp.; 303,000; 275,000 New York State Consumer Price Index - NY, NJ, CT; 0.40%; 1.00% Unemployment Rate; 4.30%; 4.40% Empire State Manufacturing Survey; -14.30%; -21.40%
Equity Market Statistics; Most Recent; Prior Period Dow Jones Industrials; 4/29/24; 2/29/24 Dividend Yield; 2.20%; 2.06% Price/Earnings (12-Mth Trailing); 25.89; 26.17 Price/Earnings (Projected); 18.37; 19.56 S&P 500 Index; 4/29/24; 2/29/24 Dividend Yield; 1.42%; 1.39% Price/Earnings (12-Mth Trailing); 22.60; 23.01 Price/Earnings (Projected); 20.78; 21.25

The information herein was obtained from various sources believed to be accurate; however, Forté Capital does not guarantee its accuracy or completeness. This report was prepared for general information purposes only. Neither the information nor any opinion expressed constitutes an offer to buy or sell any securities, options, or futures contracts. For further information, visit www.fortecapital.com, send a message to info@forte-capital.com, or call 866-586-8100 and ask for David W. Henion, CPA, or Larry H. Rabinowitz, CPA/PFS.

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