| Index | Fourth Quarter 2024 | Year To-Date 2024 |
| S&P 500 | 2.1% | 23.3% |
| Dow Jones Industrial Average | 0.5% | 12.9% |
| Russell 2000 | 0.0% | 10.0% |
| MSCI All Country World Index ex-US | -7.5% | 5.2% |
| Aggregate Bond | -3.1% | 1.4% |
Performance Source: Koyfin.com Price Return
U.S. Versus International
The S&P 500 Index, an index of large U.S. companies, posted a price return of 2.1% for the Fourth Quarter of 2024. Large U.S. stocks strongly outperformed international for the quarter as measured by the iShares MSCI ACWI ex-US Index, a representation of international stocks outside the U.S. The International ETF return for the Fourth Quarter of 2024 was -7.5%.
The S&P 500 Index significantly outperformed international stocks for the full year in 2024, up 23.3% versus 5.2%. This outperformance for the full year was primarily due to more positive economic strength data out of the U.S. Fourth quarter outperformance was driven largely by the election of Donald Trump as U.S. president. Donald Trump has been very vocal about using tariffs on international goods as a means of negotiation. Tariffs could hamper the attractiveness of international manufacturers to sell goods in the U.S.
U.S. Sectors
Top performing U.S. S&P 500 sectors as reported by Koyfin for the Fourth Quarter of 2024 include Consumer Discretionary (12.2%), Communications (7.4%) and Financials (7.1%). Laggards for the Fourth Quarter include Basic Materials (-12.2%), Health Care (-10.3%) and Real Estate (-8.0%).
Top performing U.S. S&P 500 sectors as reported by Koyfin for the full year 2024 include Communications (34.7%), Financials (30.6%) and Consumer Discretionary (26.5%). Laggards for 2024 include Basic Materials (0.2%), Health Care (2.5%) and Real Estate (5.1%).
A sharp difference between stocks that performed well versus stocks that did not appeared again in the fourth quarter, highlighting this large gap that has persisted for the full year. This large contrast highlighted ongoing strength in the purchasing power of consumers versus more corporate, old world economic sectors like Basic Materials and Health Care.