U.S. Stocks Surge, S&P 500 Soars to New Heights
2024 has been a remarkable year for investors, with U.S. stocks surging and pushing the S&P 500 to new heights. A thriving economy and the Federal Reserve 's decision to lower interest rates fueled this market performance. Familiar names like Big Tech continued their dominance, with their stock prices skyrocketing. However, the gains were not limited to traditional sectors; Bitcoin, gold, and other investments also saw significant increases.
Here's a glimpse into some key figures that shaped this year's market landscape, all as of December 20th.\The last time the U.S. stock market recorded two consecutive years of gains exceeding 20% was back in the days of President Bill Clinton's impeachment and Mark McGwire's record-breaking 70th home run. The S&P 500 is on track to repeat this feat in 2024, having already surged 24.3% this year, excluding dividends, following last year's impressive 24.2% climb.\The S&P 500 has reached an unprecedented number of all-time highs this year. The journey began early on January 19th, when the index marked a remarkable two-year recovery from the downturn triggered by high inflation and concerns that the Federal Reserve's interest rate hikes would lead to a recession. The index maintained its upward trajectory throughout the year, setting new records in every month except April and August, according to S&P Dow Jones Indices. The latest milestone was achieved on December 6th.\The Federal Reserve has lowered its key interest rate this year from a two-decade high, providing some much-needed relief to the economy. Anticipation for these rate cuts, combined with hopes for further reductions in 2025, played a pivotal role in the U.S. stock market's success this year. However, the 1 percentage point reduction falls short of the 1.5 percentage points that many traders had projected for 2024 at the beginning of the year. The Fed's December statement, suggesting only two more rate cuts in 2025, fell short of earlier expectations and disappointed some investors
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