The first half of 2024 saw impressive gains across major asset classes, fueled by expectations of rate cuts and strong economic performance. US equities led the charge, with the SPDR S&P 500 ETF Trust (SPY) gaining 14.5%, driven by AI optimism and falling inflation. Emerging markets, represented by iShares MSCI Emerging Markets ETF (EEM), had a mixed performance, diverging from the US market initially but later aligning before diverging again. Gold, benefiting from expectations of a weaker dollar, saw a surge reaching $2,464.50 in May before retracting. Bitcoin, after a strong 2023, experienced a volatile ride in 2024, reaching an all-time intraday high of $74,415 in March before pulling back to around $63,000. An investment of $1,000 at the end of 2023 would have yielded $1,152.20 in SPY, $1,066.70 in EEM, $1,127 in Gold Futures, and $1,483 in Bitcoin, demonstrating Bitcoin's significant outperformance.
SPY vs. EEM vs. Gold vs. Bitcoin: How $1,000 Invested In Each In 2023 Fared
Summary:
US equities surged in the first half of 2024, with the SPY gaining 14.5%.
The rally was driven by optimism surrounding AI technology and cooling inflation.
Emerging markets initially diverged from the US market but later aligned before diverging again.
Gold saw a significant rise fueled by expectations of a weaker dollar, reaching $2,464.50 in May before retracting.
Bitcoin had a volatile ride in 2024, reaching an all-time intraday high of $74,415 in March but pulling back to around $63,000.
An investment of $1,000 at the end of 2023 would have generated $1,152.20 in SPY, $1,066.70 in EEM, $1,127 in Gold Futures, and $1,483 in Bitcoin.
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