{"id":20321,"date":"2024-01-05T12:03:20","date_gmt":"2024-01-05T11:03:20","guid":{"rendered":"https:\/\/latribune.lazardfreresgestion.fr\/?p=20321"},"modified":"2024-01-05T12:35:40","modified_gmt":"2024-01-05T11:35:40","slug":"equity-markets-recap-2023-a-year-of-surprises","status":"publish","type":"post","link":"https:\/\/latribune.lazardfreresgestion.fr\/en\/equity-markets-recap-2023-a-year-of-surprises\/","title":{"rendered":"Equity markets recap: 2023, a year of surprises"},"content":{"rendered":"<h2>Chart of the Week<\/h2>\n<p>2023 saw equity markets recover significantly from the declines of 2022. In both the US and Europe, the movement was upward with the Nasdaq defying all expectations to soar 45%, the S&amp;P\u00a0500 jumping 26% and the MSCI\u00a0Europe climbing 16% (dividends reinvested).<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-20326 \" src=\"https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2024\/01\/Capture-decran-2024-01-05-123138_GOODONE-300x138.jpg\" alt=\"\" width=\"927\" height=\"427\" srcset=\"https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2024\/01\/Capture-decran-2024-01-05-123138_GOODONE-300x138.jpg 300w, https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2024\/01\/Capture-decran-2024-01-05-123138_GOODONE-768x353.jpg 768w, https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2024\/01\/Capture-decran-2024-01-05-123138_GOODONE.jpg 805w\" sizes=\"auto, (max-width: 927px) 100vw, 927px\" \/><\/p>\n<h3><b>OUR <\/b><b>ANALYSIS<\/b><\/h3>\n<p>In the face of global economic uncertainty, resilient US growth was driven by high household spending levels and a dynamic job market. With an unemployment rate hovering below 4% in the past year, consumers have continued to spend throughout. Meanwhile, Europe shifted into disinflationary mode on the back of falling energy prices enabled by easing pressure in supply chains.<\/p>\n<p>On the markets, subsiding inflation led to interest rate falls, especially in the final two months of 2023, and provided growth stocks with a boost. US technology stocks outperformed, with the artificial intelligence (AI) boom invigorating the sector and the Magnificent Seven, a handful of mega-cap stocks, powering the US market. In Europe, solid performance across markets was driven by cyclical sectors such as banking and car manufacturing being underpinned by broadly resilient economic growth.<\/p>\n<p>***<\/p>\n<p>Written on January 5, 2024. This is not an investment advice. Opinions subject to change.<\/p>\n<p>See also: <a href=\"https:\/\/latribune.lazardfreresgestion.fr\/en\/real-estate-strikes-back\/\">https:\/\/latribune.lazardfreresgestion.fr\/en\/real-estate-strikes-back\/<\/a><\/p>\n<p>***<\/p>\n<p>This document is not pre-contractual or contractual in nature. It is provided for information purposes. The analyses and descriptions contained in this document shall not be interpreted as being advice or recommendations on the part of Lazard Fr\u00e8res Gestion SAS. This document does not constitute an offer or invitation to purchase or sell, nor an encouragement to invest. This document is the intellectual property of Lazard Fr\u00e8res Gestion SAS. LAZARD FRERES GESTION \u2013 a simplified joint stock company with share capital of \u20ac14,487,500 \u2013 Paris Trade and Companies Registry No. 352 213 599. 25, RUE DE COURCELLES \u2013 75008 PARIS, FRANCE<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chart of the Week 2023 saw equity markets recover significantly from the declines of 2022. In both the US and&hellip; <\/p>\n","protected":false},"author":101016,"featured_media":20317,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[148],"tags":[2636,2106,2538],"class_list":["post-20321","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chart-of-the-week","tag-2023-en","tag-equity-markets","tag-performance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Equity markets recap: 2023, a year of surprises<\/title>\n<meta name=\"description\" content=\"2023 saw equity markets recover significantly from the declines of 2022.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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