Market Wrap: Stellar Annual Gains Despite Year-End Stumble
As the curtain falls on 2024, the stock market has managed to secure impressive annual gains, despite a rocky finish to the year. Today’s trading session saw the Dow Jones Industrial Average dip 28 points, or 0.1%, while the S&P 500 and Nasdaq Composite fell 0.4% and 0.9%, respectively.
A Year of Resilience
Despite the recent volatility, the major indexes have demonstrated remarkable resilience, with the Dow Jones Industrial Average surging nearly 13% in 2024 – its best performance since 2021, according to Dow Jones Market Data. This upward trend is a testament to the market’s ability to adapt and thrive in the face of uncertainty.
S&P 500 Shines Bright
The S&P 500 has been a standout performer, notching a 23% gain this year and an impressive 53% increase over the past two years. This marks the index’s best two-year stretch since 1997 and 1998, a period of significant economic growth.
Nasdaq Composite Soars
Meanwhile, the Nasdaq Composite has experienced a remarkable 29% surge this year, with a staggering 84.8% increase over the past two years. This impressive performance is a reflection of the tech sector’s continued dominance and innovation.
A Strong Finish to a Turbulent Year
As investors look back on 2024, they can take comfort in the market’s ability to weather the storms and emerge stronger. Despite the year-end stumble, the major indexes have locked in stellar annual gains, providing a solid foundation for future growth.
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