The stock market went on a rollercoaster ride this year, with traders driving big gains in the second half as they looked forward to lower rates.
US stocks finished the last trading of the session lower, with the S&P 500 failing to secure a new all-time high.
But on an annual basis, the stock market enjoyed a stellar performance this year.
The S&P 500 gained 24%, powered by resilient consumer spending, an economy that bucked calls for a recession, and steady corporate profits. The Dow Jones Industrial Average was powered higher, too, and the Nasdaq rode a wave of enthusiasm for artificial intelligence to finish the year 44% higher.
Stocks were volatile but moved steadily higher throughout the year. Some of the strongest gains came at the end of the year, as traders began placing bets that the Federal Reserve was about done raising rates and looking toward loosening monetary policy in 2024.
