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MoreBack to News Headlines
Stocks just did something they haven’t done in nearly three decades

Stocks just did something they haven’t done in nearly three decades

CNN
Wednesday, January 1, 2025 1:22 AM GMT

US stocks just achieved a feat so rare that it’s only ever happened a handful of times.

US markets wrapped up a blockbuster 2024 by marking an achievement so rare that it’s only ever happened a handful of times. Despite US stocks closing lower Tuesday in a disappointing December that saw the Dow drop over 2,000 points, or about 5%, and the S&P 500 slide 2.5%, this was a stellar year for stocks. The S&P 500 gained more than 23% this year after rising 24% in 2023. The back-to-back gains of over 20% is the best performance for the benchmark index since 1997 and 1998, according to data from FactSet. It’s an extraordinary event for the modern-day version of the index. (Precursors also racked up that kind of performance three other times, in 1927 and 1928, 1935 and 1936 and in 1954 and 1955, according to a Bank of America analysis.) That means your retirement savings might be looking a little more cushioned than usual. Retirement plans in the form of a 401(k) or other pension fund are often invested in indices like the S&P 500. So, when stocks have a standout year, your account balance will benefit. Despite fizzling out in December and missing an expected “Santa Claus rally” to close out 2024, markets notched a blockbuster year, building off a strong 2023.

Read full story on CNN
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