2024: A Year of Surprises in the Stock Market

2024 has been a whirlwind year for investors. The U. S. stock market has been on a roll, breaking records and defying expectations. The S&P 500 index surged 24. 3% by December 20, marking the first time since 1998 that it jumped by at least 20% for two consecutive years. Tech giants like Apple and Nvidia led the charge, but it wasn't just them. Bitcoin, gold, and other investments also soared. The Federal Reserve's decision to cut interest rates three times this year provided some relief to the economy. However, the cuts were less than what many traders had hoped for at the start of the year. Despite this, the stock market remained resilient, setting 57 new records. Even after Donald Trump's re-election, stocks rallied, with bitcoin hitting a new high of over $108, 000. Gold also had a strong year, rising by 26. 7%, driven by global unrest and lower interest rates. Companies like Tesla and Nvidia saw significant gains, with Nvidia's revenue surging to $91. 2 billion in nine months. The economy grew at a steady pace, with the U. S. GDP increasing by 1. 6% to 3. 1% in each of the first three quarters of 2024. However, the housing market faced challenges, with a record-high vacancy rate of 20. 1% for office buildings and home sales plummeting. Despite these issues, the stock market's overall performance was remarkable, proving that 2024 was indeed a year of surprises.