Fiera US SMID Cap Growth Q4 2024 Commentary
February 3, 2025 | Market Commentary, Public Markets
Equity returns were positive in the fourth quarter with a continuation of a divergence in returns between smaller cap and mega cap companies.
In the fourth quarter, the outperformance of the larger capitalisation companies remained in place primarily due to the impact of the mega cap technology companies. The technology dominated Nasdaq Composite returned 6.4%% while the Russell 2000 Growth Index returned 1.7%. A more diversified index like the S&P 500 returned 2.4% while the equal-weighted S&P 500 Index returned -1.9%. Essentially, the narrow breadth in the market has endured with some hints of broadening showing up sporadically.
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