Economic and Market Update: December 2024
November saw strong market performance, with the MSCI ACWI index gaining 4.1% amid optimism following Donald Trump’s re-election and a Republican Party sweep. The US S&P 500 rose 5.9%, its strongest monthly gain of the year, driven by expectations of extended US economic strength. US small caps outperformed large caps, rising 10.9% due to anticipated benefits from tax cuts.