Stocks rose to start the last week of the year, pushing the S&P 500 closer to record levels.
The S&P 500
climbed 0.42% to end at 4,774.75, while the Nasdaq Composite
advanced 0.54% to settle at 15,074.57. The Dow Jones industrial Average
gained 159.36 points, or about 0.43%, to close at 37,545.33.
The Nasdaq 100 gained 0.6% and notched an all-time high and record close, ending the session at 16,878.46.
Despite weaker volume, Tuesday’s moves likely signal a continuation of the positive market trends boosting major indices in recent weeks, said Keith Lerner, Truist’s co-chief investment officer.
www.cnbc.com/2023/12/26/stock-market-today-live-updates.html
Heading into 2023, the predictions were nearly unanimous: a recession was coming.
As the year comes to a close, the forecasted economic downturn did not arrive.
So what’s in store for 2024?
An economic decline may still be in the forecast, experts say.
The prediction is based on the same factors that prompted economists to call for a downturn in 2023. As inflation has run hot, the Federal Reserve has raised interest rates.
Typically, that dynamic has triggered a recession, defined as two consecutive quarters of negative gross domestic product growth.
Some forecasts are optimistic that can still be avoided in 2024. Bank of America
is predicting a soft landing rather than a recession, despite downside risks.
More than three-fourths of economists — 76% — said they believe the chances of a recession in the next 12 months is 50% or less, according to a December survey from the National Association for Business Economics.
www.cnbc.com/2023/12/26/the-us-avoided-a-recession-in-2023-whats-the-outlook-for-2024.html