Stocks end 2023 up 20% as economy resiliently energizes
Newsy
The broader market's gains were driven largely by the "Magnificent 7" companies, which include Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta.
The S&P 500 closed out 2023 with a gain of more than 24% and the Dow finished near a record high, as easing inflation, a resilient economy and the prospect of lower interest rates buoyed investors, particularly in the last two months of the year.
Stocks closed Friday with modest losses.
The S&P 500 slipped 13.52 points, or 0.3%, to 4,769.83. That is still just 0.6% shy of an all-time high set in January of 2022 and it still left the benchmark index with a rare ninth consecutive week of gains.
The Dow Jones Industrial Average fell 20.56 points, or 0.1%, to 37,689 after setting a record Thursday.
The Nasdaq slipped 83.78 points, or 0.6%, to 15,011.35, but that was barely a blemish on an annual gain of more than 43%, its best performance since 2020.
