Wall Street Closes 2024 With Record Gains Despite December Dip

The S&P 500 posts consecutive 20% annual gains for the first time since 1998, fueled by tech sector growth and easing inflation.

The S&P 500 rose 23.3% in 2024, marking its second straight year of over 20% growth, a milestone last achieved in 1998.
Technology stocks, led by companies like Nvidia, Apple, and Microsoft, drove more than half of the market's gains, with the Nasdaq climbing nearly 29%.
Easing inflation, Federal Reserve rate cuts, and strong corporate earnings contributed to the market's robust performance, despite a December decline.
Bitcoin surpassed $100,000 for the first time, while gold gained over 27%, reflecting broader investor optimism in 2024.
Analysts are cautiously optimistic about 2025, though concerns remain over potential inflationary pressures from President-elect Trump's proposed tariffs and policies.