Stay Invested - January 2022 Market Commentary | Americana Partners LLC Market Commentary (2024)

Melissa Giles, Director of Portfolio Management with Americana Partners presents the Monthly Market Commentary as written by, David M Darst, Chief Investment Officer with Americana Partners. Any charts/graphs referenced are available in print format and may be provided at your request.

David is currently the Chief Investment Officer for Americana Partners. David served for 17 years as a Managing Director and Chief Investment Strategist of Morgan Stanley Wealth Management, with responsibility for Asset Allocation and Investment Strategy; was the founding President of the Morgan Stanley Investment Group; and was founding Chairman of the Morgan Stanley Wealth Management Asset Allocation Committee. After 2014, he served for several years as Senior Advisor to and a member of the Morgan Stanley Wealth Management Global Investment Committee. He joined Morgan Stanley in 1996 from Goldman Sachs, where he held Senior Management posts within the Equities Division and earlier, for six years as Resident Manager of their Private Bank in Zurich.

David is the Author of twelve books: (i)The Complete Bond Book(McGraw-Hill); (ii)The Handbook of the Bond and Money Markets(McGraw-Hill); (iii)The Art of Asset Allocation, Second Edition(McGraw-Hill); (iv)Mastering the Art of Asset Allocation(McGraw-Hill); (v)Benjamin Graham on Investing(McGraw-Hill); (vi)The Little Book that Saves Your Assets(John Wiley & Sons), which was ranked on the bestseller lists ofThe New York TimesandBusiness Week;(vii)Portfolio Investment Opportunities in China(John Wiley & Sons); and (x)Portfolio Investment Opportunities in Precious Metals(John Wiley & Sons). His works have been translated into Chinese, Japanese, Russian, German, Korean, Italian, Indonesian, Norwegian, Romanian, and Vietnamese. Seapoint Books published David’s eleventh book in 2012 ,Voyager 3, containing his creative writing, and in 2016, his twelfth book,Flim-Flam Flora, a children’s book coauthored with his daughter.

David appears as a frequent guest on CNBC, Bloomberg, FOX, PBS, and other television channels, and has contributed numerous articles toBarron’s Euromoney,The Money Manager,,The Yale Economic Review, and other publications. He has broadcast and written extensively on asset allocation in the Morgan Stanley biweeklyInvestment Strategy and Asset Allocation Commentaryand in the Firm’s Wealth Management monthly publication,Asset Allocation and Investment Strategy Digest, the predecessors of which he launched in 1997.

David attended Father Ryan High School in Nashville, Tennessee, graduated from Phillips Exeter Academy, was awarded a BA degree in Economics from Yale University, and earned his MBA from Harvard Business School. David serves on the Investment Committee of the Phi Beta Kappa Foundation and the Advisory Boards of the George Washington Institute for Religious Freedom and the Black Rock Arts Foundation. David has lectured extensively at Wharton, Columbia, INSEAD, and New York University Business Schools, and for nine years, David served as a visiting faculty member at Yale College, Yale School of Management, and Harvard Business School. In November 2011, David was inducted by Quinnipiac University in their Business Leaders Hall of Fame. David is a CFA Charterholder and a member of the New York Society of Security Analysts and the CFA Institute.

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Americana Partners, LLC is registered as an investment adviser with the SEC. The firm only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements. Registration as an investment adviser does not constitute an endorsem*nt of the firm by securities regulators nor does it indicate that the adviser has attained a particular level of skill or ability. A copy of Americana Partners’ current written disclosure brochure filed with the SEC which discusses among other things, Americana Partners’ business practices, services and fees, is available through the SEC’s website at:

The tax and legal information contained in this newsletter is general in nature. It should not be construed as legal or tax advice. Always consult an attorney or tax professional regarding your specific legal or tax situation.

Foreign securities, foreign currencies, and securities issued by U.S. entities with substantial foreign operations can involve additional risks relating to political, economic, or regulatory conditions in foreign countries. These risks include fluctuations in foreign currencies; withholding or other taxes; trading, settlement, custodial, and other operational risks; and less stringent investor protection and disclosure standards in some foreign markets. All of these factors can make foreign investments, especially those in emerging markets, more volatile and potentially less liquid than U.S. investments. In addition, foreign markets can perform differently from the U.S. market. Investing involves certain risks, including possible loss of principal. You should understand and carefully consider a strategy's objectives, risks, fees, expenses and other information before investing. The views expressed in this commentary are subject to change and are not intended to be a recommendation or investment advice. Such views do not take into account the individual financial circ*mstances or objectives of any investor that receives them. The strategies described herein may not be suitable for all investors. There is no guarantee that the adviser will meet any of its investment objectives. All indices are unmanaged and are not available for direct investment. Indices do not incur costs including the payment of transaction costs, fees and other expenses. This information should not be considered a solicitation or an offer to provide any service in any jurisdiction where it would be unlawful to do so under the laws of that jurisdiction. Past performance is no guarantee of future results. It is not possible to invest directly in an index. Exposure to an asset class represented by an index is available through investable instruments based on that index.

The S&P 500® Index is a widely recognized, unmanaged index of 500 common stocks which are generally representative of the U.S. stock market as a whole. The Nasdaq Composite® Index is the market capitalization-weighted index of over 2,500 common equities listed on the Nasdaq stock exchange. The types of securities in the index include American depositary receipts, common stocks, real estate investment trusts (REITs) and tracking stocks, as well as limited partnership interests. The EAFE® Index is a stock index offered by MSCI that covers non-U.S. and Canadian equity markets. It serves as a performance benchmark for the major international equity markets as represented by 21 major MSCI indices from Europe, Australasia, and the Middle East. The EAFE® Index is the oldest international stock index and is commonly called the MSCI EAFE Index. The Russell 2500® is a market-cap-weighted index that includes the smallest 2,500 companies covered in the broad-based Russell 3000 sphere of United States-based listed equities. All 2,500 of the companies included in the Index cover the small- and mid-cap market capitalizations. The Russell 1000® Growth Index is an unmanaged index that measures the performance of the large-cap growth segment of the U.S. equity universe. It includes those Russell 1000® Index companies with higher price-to-book ratios and higher forecasted growth values. The CBOE Volatility Index (VIX) is a measure of expected price fluctuations in the S&P 500 Index options over the next 30 days. The VIX is calculated in real time by the Chicago Board Options Exchange (CBOE). P/E or Price to Earnings ratio is indicates the dollar amount an investor can expect to invest in a company in order to receive one dollar of that company's earnings. The Consumer Confidence Survey® reflects prevailing business conditions and likely developments for the months ahead. The Manufacturing Business Outlook Survey is a monthly survey of manufacturers in the Third Federal Reserve District; Participants indicate the direction of change in overall business activity and in the various measures of activity at their plants: employment, working hours, new and unfilled orders, shipments, inventories, delivery times, prices paid, and prices received. The ISM manufacturing index, also known as the purchasing managers' index (PMI), is a monthly indicator of U.S. economic activity based on a survey of purchasing managers at more than 300 manufacturing firms. The Composite Index of Leading Indicators, otherwise known as the Leading Economic Index (LEI), is an index published monthly by The Conference Board. It is used to predict the direction of global economic movements in future months.

A bond rating is a letter-based credit scoring scheme used to judge the quality and creditworthiness of a bond. The option adjusted spread (OAS) measures the difference in yield between a bond with an embedded option, such as an MBS or callables, with the yield on Treasuries. Mean reversion, in finance, suggests that various phenomena of interest such as asset prices and volatility of returns eventually revert to their long-term average levels. A meme stock is a security that has seen an increase in trading volume after going viral on social media or an online forum.

This document may contain forward-looking statements relating to the objectives, opportunities, and the future performance of the U.S. market generally. Forward looking statements may be identified by the use of such words as; “believe,” “expect,”“anticipate,”“should,”“planned,”“estimated,”“potential”and other similar terms. Examples of forward-looking statements include, but are not limited to, estimates with respect to financial condition, results of operations, and success or lack of success of any particular investment strategy. All are subject to various factors, including, but not limited to general and local economic conditions, changing levels of competition within certain industries and markets, changes in interest rates, changes in legislation or regulation, and other economic, competitive, governmental, regulatory and technological factors affecting a portfolio’ operations that could cause actual results to differ materially from projected results. Such statements are forward-looking in nature and involve a number of known and unknown risks, uncertainties and other factors, and accordingly, actual results may differ materially from those reflected or contemplated in such forward-looking statements. Prospective investors are cautioned not to place undue reliance on any forward looking statements or examples.

This material is proprietary and may not be reproduced, transferred, modified or distributed in any form without prior written permission from Americana Partners. Americana Partners reserves the right, at any time and without notice, to amend, or cease publication of the information contained herein. Certain of the information contained herein has been obtained from third-party sources and has not been independently verified. It is made available on an "as is" basis without warranty. Any strategies or investment programs described in this presentation are provided for educational purposes only and are not necessarily indicative of securities offered for sale or private placement offerings available to any investor. The mention of any individual security should not be construed as a recommendation to buy or sell that security.

Stay Invested - January 2022 Market Commentary | Americana Partners LLC Market Commentary (2024)


What is the stock market at q1 in 2024? ›

The U.S. stock market climbed to an all-time high in the first quarter, with the benchmark S&P 500 index surpassing 5,000 for the first time. U.S. stocks rose more than 10% to start the year while international stocks posted returns of nearly 6%. Source: Morningstar Inc, Tamarac Advisor View as of March 31, 2024.

How to invest in US stocks from India Groww? ›

You can invest in the US stock market directly by opening an overseas trading account with a domestic or foreign broker. Be mindful of the charges before you pick the best app to invest in US stocks.

Can I invest in US mutual funds from India? ›

Ways to Invest in US Stocks for Indian MF Investors

Individuals can make investments in US stocks by opting for US-focused international mutual funds. These are mostly overseas FoFs (fund of funds) or other international mutual funds.

How to buy foreign stocks in India? ›

Opening a demat account with Indian brokers or foreign brokers enables investing in US stocks. Mutual funds and ETFs are alternative options for international stock investments, providing diversification benefits and exposure to global markets.

What stock will boom in 2024? ›

Top growth stocks in 2024
Company3-Year Sales Growth CAGRIndustry
Nvidia (NASDAQ:NVDA)39%Semiconductors
Netflix (NASDAQ:NFLX)7%Streaming entertainment
Amazon (NASDAQ:AMZN)10%E-commerce and cloud computing
Meta Platforms (NASDAQ:META)10%Digital advertising
6 more rows

What is the Dow Jones price prediction for 2024? ›

The Big Money bulls forecast that the Dow Jones Industrial Average will end 2024 at about 41,231, 9% higher than current levels. Market optimists had a mean forecast of 5461 for the S&P 500 and 17,143 for the Nasdaq Composite —up 9% and 10%, respectively, from where the indexes were trading on May 1.

Should we invest in US stocks now? ›

Investing in US stocks is a sound idea for Indian investors to gain access to the largest and most liquid stock market globally. However, investors must thoroughly research the companies, understand the risks involved, and diversify their investments to ensure maximum potential returns while mitigating them.

What mutual fund has the highest return? ›

Best-performing U.S. equity mutual funds
TickerName5-year return (%)
MAEIXMoA Equity Index Fund13.40%
BSPSXiShares S&P 500 Index Service13.33%
VLACXVanguard Large Cap Index Investor13.30%
GRMSXNationwide S&P 500 Index Svc12.92%
3 more rows
May 1, 2024

What is the best mutual fund to invest in? ›

5 Best Mutual Funds to Buy Now
Mutual FundAssets Under ManagementExpense Ratio
Vanguard Total Stock Market Index Fund (VTSAX)$1.6 trillion0.04%
Fidelity 500 Index (FXAIX)$512.4 billion0.015%
Fidelity ZERO International Index (FZILX)$4 billion0%
American Funds Bond Fund of America (ABNDX)$82.6 billion0.62%
1 more row

Can I invest in India as a US citizen? ›

Raj Khosla, Founder and Managing Director, replies, "Yes, a US citizen with NRE and NRO accounts can invest in mutual funds and other financial products such as NRI fixed deposits, stocks, bonds, government securities, real estate and more, subject to prescribed regulations.

Can NRI buy mutual funds in India? ›

Of course, an NRI can invest in mutual funds in India as long as he/she adheres to the Foreign Exchange Management Act (FEMA). In terms of Regulation 2 of FEMA Notification No. 13 dated May 3, 2000, Non-Resident Indian (NRI) means a person resident outside India who is a citizen of India.

How are Indian mutual funds taxed in US? ›

If NRI taxpayers own mutual fund units or shares of Indian companies and receive dividend income from these investments, the income is typically taxable at 20% (plus any applicable surcharge and cess) without being eligible for any Act-provided deductions for things like life insurance, public provident fund, NPS, etc.

Can US NRI buy stocks in India? ›

NRIs can invest in the Indian stock market through the purchase of equity shares, mutual funds, ETFs and derivatives. You can only conduct delivery-based trades, and there are restrictions on intraday trading or trading in currency derivatives and commodities.

Can I directly buy US stocks from India? ›

Yes, Indians can invest in the US stock market. There is more than one way to buy and hold US stocks in your portfolio. Direct equities, ETFs, and mutual funds are just one of the few popular options. You can invest in US stocks in two ways from India – indirect and direct.

Can overseas citizen of India invest in India? ›

NRI/PIOs can invest in mutual fund schemes in India and it requires no special approval from the RBI. They can invest in mutual funds either on repatriable basis or non-repatriable basis. For investments on repatriable basis NRI/PIOs must have either NRE account or FCNR account with a bank in India.

What is the return of the Q1 sector in 2024? ›

For Q1 2024, the estimated (year-over-year) earnings growth rate for the S&P 500 is 3.6%. If 3.6% is the actual growth rate for the quarter, it will mark the third-straight quarter of year-over-year earnings growth for the index.

What is the market forecast for 2024? ›

S&P 500 earnings to increase 9.3% compared to a year ago. S&P 500 earnings growth to accelerate in the second half of the year. Full-year S&P 500 earnings growth of 11.4% in 2024. Full-year S&P 500 revenue growth of 5% in 2024.

What is the economic performance in Q1 2024? ›

Real gross domestic product (GDP) increased at an annual rate of 1.6 percent in the first quarter of 2024 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. In the fourth quarter of 2023, real GDP increased 3.4 percent.

What was the index performance in Q1 2024? ›

Key Stats: Q1 2024 Stock and Bond Market Performance

Big tech stocks continued to drive market gains, with the US Technology Index up 13.1%. Energy stocks recovered from a tough fourth quarter, while real estate stocks floundered. Bonds fell in the first quarter, with the US Core Bond Index down 0.8%.

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