First Day Of Trading For 2024  Image: Shutterstock Stocks closed lower on Friday, but the big three indexes (Dow, S&P and Nasdaq) closed up for the week, extending their winning streak to 9 weeks in a row. The small-cap Russell 2000, and the mid-cap S&P 400 closed modestly lower for the week, capping their winning streak to 6 weeks in a row. But all of the indexes ended the year with big gains. The Dow was up 13.7%; the S&P was up 24.2%; the Nasdaq Composite was up 43.4%; the Nasdaq 100 was up 53.8%; the Russell 2000 was up 15.1%; and the S&P 400 was up 14.4%. The Dow was the first of the indexes to eclipse their previous all-time high from January 5, 2022. They broke thru those old highs on December 13, 2023, taking roughly 23 months to do so. They have since tacked on another 1.99% on top of that. The Nasdaq 100 was next. Their old high was made back on November 22, 2021. They finally broke thru on December 19, 2023, taking them 25 months to do so. They added another 0.36% since then. The Nasdaq Composite, however, still has a ways to go as they're -7.41% below their all-time high. The S&P also remains below their all-time high from January 4, 2022, but not by much, as they only need another 1.01% to make a new all-time high. It's approaching 2 full years since they last made a new high. I point this out because history shows in the previous 14 times when the S&P has gone at least a full year without a new high, and then finally made one – a year later it was higher in 13 out of those 14 times, and up nearly 15% on average. Whether it happens today, or we have to wait a little longer, it's likely just a matter of when rather than And that bodes well for 2024. Also boding well for 2024 is the fact that stocks typically do well in Presidential election years. In fact, while the 4-year Presidential Cycle shows that year 3 (that was 2023) is the best year for stocks, year 4 (that's 2024) is the second-best year.
Then add in that inflation is on the decline, and interest rates are expected to head lower, and the odds for another great year just keep getting better and better. You can further increase your odds of success in the new year by checking out our Top 10 Stocks portfolio. Since 2012, the Top 10 portfolios have nearly TRIPLED the market. While the S&P 500 gained +340.1%, Zacks Top 10 Stocks skyrocketed +974.1%. This year's Top 10 picks will be released this morning (Tuesday, January 2), at 11:00 AM ET. If 2024 is anything like previous years, get ready to watch the Top 10 Stocks soar. Click here to see the Top 10 Stocks for 2024 Best,  Kevin Matras
Executive Vice President, Zacks Investment Research | 
Tidak ada komentar:
Posting Komentar