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US Stocks Set for Second Straight Year of Gains in 2024

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The US stock market is poised to close out 2024 with another year of substantial gains, marking the second consecutive year of at least 20% increase for the S&P 500. This impressive performance follows a 24.2% surge in 2023 and a projected 24.3% rise in 2024, fueled by a strong economy and the Federal Reserve's rate cuts. Big Tech companies have played a significant role in these gains, but other sectors have also contributed to the positive market trend.

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FILE - A sign for a Nvidia office building is shown in Santa Clara, Calif., on Aug. 7, 2024. – What a wonderful year 2024 has been for investors. U.S. stocks ripped higher and carried the S&P 500 to records as the economy kept growing and the Federal Reserve began cutting interest rates.The year featured many familiar winners, such as Big Tech, which got even bigger as their stock prices kept growing. But it wasn't just Apple, Nvidia and the like.Remember when President Bill Clinton got impeached or when baseball's Mark McGwire hit his 70th home run against the Montreal Expos? That was the last time the U.S.

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