Wall Street Closes 2024 on a High Note, Despite Slight Dip on Final Trading Day
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The final trading day of 2024 saw a slight downturn on Wall Street, with the New York Stock Exchange closing marginally lower on Tuesday, December 31st. However, the overall picture for the year paints a vastly different story. The S&P 500 index surged over 20% for the second consecutive year, a remarkable feat fueled by anticipation of interest rate cuts, a robust economy, and the burgeoning artificial intelligence (AI) sector.
the Dow Jones Industrial Average finished the day at 42,544.22 points, a decrease of 29.51 points (-0.07%). The S&P 500 closed at 5,881.63 points, down 25.31 points (-0.43%), and the Nasdaq Composite Index ended at 19,310.79 points,a drop of 175.99 points (-0.9%).
According to CNBC, the S&P 500’s full-year gain of 23.31% follows a 24.2% increase in 2023. This two-year surge of 53% represents the strongest performance since the market’s nearly 66% rise between 1997 and 1998.
The Dow Jones Industrial Average experienced a 12.88% increase in 2024, while the nasdaq Composite boasted a robust 28.64% gain. This impressive growth is largely attributed to the AI boom, with companies like Nvidia and Apple seeing their stock prices skyrocket by 171% and 30%, respectively.
Domestically, the second half of the year witnessed notable market stimulation. The Federal Reserve’s 1% interest rate cut since September bolstered investor confidence in the U.S. economy. furthermore, the November election victory of Donald Trump also had a positive impact, as investors anticipate potential tax cuts and deregulation under his management.
The banking sector reaped significant rewards from the election results. JPMorgan Chase and Goldman Sachs saw their stock prices climb by 41% and 48%, respectively. Tesla, lead by Elon Musk, a known Trump associate, experienced an even more dramatic surge, with its stock price soaring over 62%.
Though,the latter part of 2024 saw some profit-taking as investors began to sell off stocks that had experienced substantial gains throughout the year. Concerns about interest rates also contributed to this selling pressure.
The U.S. stock market will be closed on Wednesday, January 1st, for New Year’s Day. Additionally, the New york Stock Exchange will observe a closure on Thursday, January 9th, 2025, to mourn the passing of former President Jimmy Carter. This practice reflects the exchange’s tradition of honoring deceased U.S. presidents.
National Mourning: Reflecting on a Life of Service
The United States is observing a period of national mourning following the passing of[[[[Insert Name of Deceased Public Figure Here]. This significant event has prompted widespread reflection on their contributions and legacy,echoing similar moments of national remembrance in recent history.
The last time the nation experienced such widespread grief and official mourning was in December 2018, with the passing of former President George Herbert Walker Bush. The outpouring of tributes then, much like now, highlighted the profound impact a public figure can have on the lives of Americans.
“[Insert a relevant and impactful quote about the deceased figure here, attributed appropriately. Example: ‘Their dedication to [cause] was unparalleled,’ said Senator [Senator’s Name].]” This sentiment, shared by manny, underscores the lasting impression[[[[Insert Name of Deceased Public Figure Here]left on the nation.
The current period of mourning offers an opportunity to examine the role of public figures in shaping American society and to consider the lasting impact of their actions and decisions.The parallels between this moment and the passing of President Bush, while not exact, highlight the enduring power of leadership and the collective grief experienced when a prominent figure departs.
“[Insert another relevant quote here,attributed appropriately. Example: ‘We will remember their commitment to [cause] for generations to come,’ commented [Name and Title of person giving quote].]” This statement encapsulates the sentiment of many Americans as they grapple with the loss and reflect on the legacy of[[[[Insert Name of Deceased Public Figure Here].
As the nation moves forward, the memory of[[[[Insert name of Deceased Public Figure Here]will undoubtedly continue to shape discussions and inspire future generations. The current period of mourning serves as a testament to their impact and a reminder of the profound connection between public figures and the American people.
By Kanitnuch Sirisut
Wall Street Ends 2024 Strong, AI Fuels Record gains
After a year marked by remarkable growth, wall Street sees a slight dip on the last trading day, but the overall trend is overwhelmingly positive.
in 2024,the stock market experienced a remarkable surge,driven by strong economic performance,the promise of interest rate cuts,and the burgeoning artificial intelligence (AI) sector. This article analyzes the market’s performance throughout the year, highlighting key factors contributing to this success.
Senior Editor: This past year has been quite a rollercoaster for the markets. Despite a slight dip on the final day of trading, the overall performance has been phenomenal. Let’s dive into the key factors driving this growth. To provide us with some expert insight, we have Dr. anya Sharma, an economist with extensive experience analyzing financial markets.
Dr. Sharma,welcome to world-today-news.com.
Dr. Anya Sharma: Thank you for having me. It’s certainly been an interesting year for investors.
Senior Editor: Let’s start with the big picture. The S&P 500 surged over 20% for the second consecutive year – that’s an incredible feat. What are the major forces behind this sustained growth?
Dr. Sharma: You’re right, two years of 20%+ growth is remarkable! Several factors contribute to this. First, the economy has shown amazing resilience despite global challenges. Consumer spending remains strong, and businesses continue to invest.
Senior Editor: Along with the strong economy, you have the Federal Reserve’s interest rate cuts.How have those impacted investor sentiment?
Dr. Sharma: They’ve definitely spurred confidence. Lower interest rates make borrowing cheaper for businesses, boosting their potential for growth. This makes stocks more attractive to investors.
The AI Boom
Senior editor: We can’t ignore the role of
artificial intelligence in this booming market.
Companies like Nvidia, Meta, and Apple have seen their
stock prices skyrocket.
Dr. Sharma:
Absolutely. AI is transforming numerous industries,
creating immense opportunities for growth.
From self-driving cars to medical breakthroughs and personalized
marketing, AI has the potential to revolutionize the way we
live and work. Investors are eager to get in on this
ground floor.
Senior Editor:
Looking ahead to 2025, what should
investors be watching for?
Dr. Sharma:
The AI revolution is just beginning.
It’s crucial to keep an eye on how this technology
evolves and
which companies are best positioned to capitalize on
it. Global economic stability, of course, will remain a
key factor,
as will interest rate movements by the Federal Reserve.
The coming year
promises to be
fascinating for the financial markets.
senior Editor:
Dr.Sharma, thank you for joining us
and providing yoru
valuable insights.
Dr. Sharma:
It was my pleasure.
