U.S. Stocks Surge to Historic Heights in 2024

In the final trading session of 2024, U.S. stock indexes, including the S&P 500, Dow, and Nasdaq, are set to close the year on a high note, with the S&P 500 up nearly 25% and achieving back-to-back 20% gains, a rare occurrence in market history. The rally has been fueled by a significant interest rate cut of nearly 100 basis points by the Federal Reserve and a surge in technology stocks, particularly Nvidia and Tesla, which saw major increases in their market values, reaching $3 trillion and reclaiming $1 trillion, respectively. Ten out of eleven sectors in the S&P 500 posted positive returns, with notable performances from Nvidia (up 170%) and Vistra (up over 262%). However, concerns linger about potential corrections in the market amidst optimism driven by former President Donald Trump's election victory, which has increased expectations for a pro-business environment. Despite a challenging December, analysts remain optimistic about continued growth, particularly in AI-driven sectors. The Russell 2000 also marked a record high, reflecting robust market sentiment across various sectors.