News Summary

• That poses risks for the bond market heading into the new year.Falling yields have also driven the dollar lower in 2023, with the greenback on pace for its worst year since the onset of the pandemic..
• In 2023, less than 30% of its members are outpacing the index.“This leads one to question whether the leaders (or laggards) continue to lead (lag) in the year ahead,” the Bespoke strategists said..
• In a typical year, on average, 48.7% of the benchmark’s members post larger gains than the index itself..
• While that’s down from a peak of 30 in 2020, it’s well above the average of 19 times over the past two decades.Although there has been a relatively high number of stocks with gains of over 100%, there haven’t been many outperforming the S&P 500, Bespoke Investment Group noted..
• The key is how much of that is already baked into share prices, especially with expectations for a soft landing building.“Companies that have a defined and clear AI strategy with easy-to-follow metrics will likely continue to do well in 2024,” said Michael Landsberg at Landsberg Bennett Private Wealth Management..
• The Nasdaq 100 is priced at about 25 times profits projected over the next 12 months, according to data compiled by Bloomberg..