February 2024 Market Update – Markets pick up after a shaky start to the year

The US economy remains robust even though interest rates remain higher than they’ve been for years.

Despite a shaky start to the year, markets picked up in January,
bolstered by technology stocks and hopes about the US economy.
Crude oil prices rose on worries about potential disruptions to supplies
through the Red Sea and escalating tensions in the Middle East.
The US Federal Reserve (Fed) held its key interest rate steady for a
fourth consecutive meeting at 5.25% to 5.5%. Chair Jerome Powell said
they probably won’t start cutting rates at the next policy meeting in
March with inflation still running above the 2% target.