Broker Check

McKnight Weekly Market Insights: Why are Investors Entering 2024 in a Doubtful Mood?

January 08, 2024

One of the most loving and vital things you can do for your family is to update legal documents, such as a Will, Power of Attorney, and Advanced Directive (Suite of Legal Documents). For years, McKnight has hosted “Legal Days at McKnight,” where we invite a local attorney onsite and schedule clients interested in updating their Suite of Legal Documents for a complimentary meeting.

Clients who have participated in the past have overwhelmingly given their experience high marks. If you need your Legal Suite of Documents reviewed, please consider joining us on February 16th, 2024. Please email us at to schedule your appointment.

If all slots are booked, we’ll gladly schedule a meeting with our attorneys to expedite the process on your behalf.

Weighing In

By the end of 2023, Apple had roughly a 7% weighting in the S&P 500, making it the largest stock in the index in over three decades. While concentration has characterized US stock markets at times historically, the influence of a few firms over equity performance has rarely been this strong. This may allow remaining constituents to catch up to index leaders in 2024, as stable economic growth and interest rates encourage broader participation. To learn more, check out the most recent market monitor

Stocks retreated in the first trading week of 2024, struggling a bit after a celebratory end to last year as investors second-guessed Fed signals and fretted over lingering inflation concerns.

New Year Blues

Stocks got off to a rough first week of the new year, with tech names leading the week’s decline. Several market observers called it the “reverse Goldilocks” effect, where the market decided investors were getting a little too excited over the prospect of a Fed rate cut.

Stocks bounced up and down each of the four trading days but ended each one down—except Friday, when the Dow Industrials, Nasdaq Composite, and S&P 500 all ended the day in the green when jobs data helped soften the week’s slide.1,2

All About the Fed

On Wednesday, manufacturing news came in better than expected, lifting markets until the December Federal Open Market Committee meeting minutes were released, revealing that the Fed members had discussed rate cuts for 2024 but in no specific terms.

Jobs and services sector news painted a better picture of the economy on Thursday, but as the 10-year Treasury hit 4%, stock prices responded negatively.

Source:, January 6, 2024. Weekly performance is measured from the close of trading on Friday, December 29, to Friday, January 5, close. Treasury note yield is expressed in basis points.

Jobs Data in Focus

Finally, employment data helped buffer the week on Friday, as employers added 216,000 new jobs in December, besting estimates from economists and surpassing the 173,000 jobs added in November. News of unemployment remaining steady at 3.7% also helped sentiment.3,4

"It is always a silly thing to give advice, but to give good advice is absolutely fatal."

– Oscar Wilde

Errors To Avoid When Filing Your Extended Tax Return

If you file an extension of your tax return, it’s essential to avoid the common errors described below to submit a complete and accurate tax return:

  • Missing or inaccurate Social Security number (SSN): Make sure your return has your correct SSN, matching what is on your Social Security card.
  • Misspelled names: This may be a simple matter to look for, but mistakes happen. If you go by a name other than the one printed on your Social Security card, make sure you use the name on the card.
  • Filing status: Claiming the wrong filing status can invalidate your return. Choose the correct option (electronic filing software can prevent mistakes). The interactive tax assistant tool can also help to determine your filing status and any relevant credits you should (or should not) claim.
  • Math errors: Simple addition and subtraction mistakes can delay your return. Consider using electronic filing software that does the math automatically to avoid mistakes.
  • Incorrect bank account information: If you opt to receive your refund via direct deposit, provide the correct bank account information. Giving an incorrect account number can delay your refund even further.
  • Unsigned forms: Lastly, you should double-check that all sections of your forms are signed. Missing signatures can delay your return.

*This information is not intended to substitute for specific individualized tax advice. We suggest you discuss your specific tax issues with a qualified tax professional.

Tip adapted from IRS.gov5

A Beginner’s Guide To Juicing 

Juicing is a fantastic way to get some extra fruits and veggies into your diet, especially on those busy days when you can’t find time to make a nutritious meal. Plus, it’s easy to start and reap the many benefits.

First, decide what kind of juicer you want. The two most common types are masticating and centrifugal juicers. Masticating juicers “chew” the food and are slower. Preparing the produce for these juicers takes longer because they can juice only small pieces, but you retain more nutrients. Centrifugal juicers are slightly more affordable, and juice with a spinning disk. You do less produce prep, but the juice doesn’t have as many nutrients.

Next, you need to decide what to juice. You’ll learn which fruits and veggies yield the most juice and which choices combine well with others, but here are two simple recipes to get you started:

Green Juice

Purple Juice
Beets (you can juice the green tops as well)

You can add ginger, turmeric, or even garlic to give your juice extra flavor and kick.

Tip adapted from Live Simply Natural6

It has avenues, rivers, and parks, but no grass, water, or asphalt. What is it?


Last week’s riddle: Victor is assigned to paint suite numbers on doors at an office building with 100 suites, which will be numbered from 1 to 100. How many times will he have to paint the number 8? Answer: 20 times - 8, 18, 28, 38, 48, 58, 68, 78, 80, 81, 82, 83, 84, 85, 86, 87, 88, 89, 98.

White Pelicans in the water at the Ding Darling Wildlife Reserve at Sanibel, Florida

Footnotes And Sources

1. The Wall Street Journal, January 5, 2024

2. The Wall Street Journal, January 5, 2024

3. The Wall Street Journal, January 5, 2024

4. The Wall Street Journal, January 5, 2024

5., September 6, 2023

6., October 9, 2023