Market Overview | April 2023
It has been 16 months since the stock market peaked and 13 months since the first rate hike by the Federal Reserve. The S&P 500's most recent low came in October 2022, down approximately 27% from the peak. The Fed continues to raise rates in their fight against inflation, and stocks have shrugged off several events, including a bank run, and have staged a partial rally over the last six months. While no one can know with certainty whether the October low will prove to be the bottom of this market cycle, there are a few things that we can know with a high level of conviction.