US stocks bounced back Tuesday, setting up a fitting end to a roaring year of trading after an uncharacteristic limp to the finish.
The S&P 500 (^GSPC) rose 0.2%, while the tech-heavy Nasdaq Composite (^IXIC) gained 0.4%. The Dow Jones Industrial Average (^DJI) put on 0.2%.
The benchmark S&P 500 is up around 23.8% in 2024, according to Yahoo Finance data. The tech-heavy Nasdaq Composite is up almost 30%. The Dow Jones Industrial Average has posted a more modest 13% gain.
The major indexes are set to post big gains in 2024, a year that was marked by a continued surge in the artificial intelligence trade — led by the “Magnificent Seven” stocks — even as the bull rally broadened across the board.
Meanwhile, the Federal Reserve made its first interest rate cut in four years, and President-elect Donald Trump’s impending return to the White House drove stocks higher in the last two months. (Yahoo Finance’s Josh Schafer and Alexandra Canal have a great rundown of the year’s big themes in charts.)
In commodities, gold (GC=F) is up over 27% this year, on track for its biggest yearly gain since 2010. And in cryptocurrencies, bitcoin (BTC-USD) has rallied over 100% this year, though it has pulled back from the $100,000 level it breached earlier this month.
But overall, the good times have stalled in the last week, as markets have given up some of their big gains — all the more uncharacteristic considering the typical “Santa Claus” rally that marks the end of the year.
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