2024 has been a phenomenal year for investors, with US stocks surging and the S&P 500 reaching record highs. The economy continued to expand, and the Federal Reserve initiated a series of interest rate cuts, fueling this market rally. Big Tech companies, such as Apple and Nvidia, continued their impressive growth, while Bitcoin, gold, and other alternative investments also saw significant gains.
This year marks the second consecutive year with a 20% or greater increase in the S&P 500, a feat last accomplished in the late 1990s. The index has climbed 24.3% this year, excluding dividends, following last year’s 24.2% surge. The S&P 500 has set all-time highs in most months of the year, with the latest record reached on December 6th. The Federal Reserve's cuts to its main interest rate, from a two-decade high, have provided some economic relief and contributed to the market's success. While expectations for rate cuts were high, the Fed’s December announcement suggesting only two more cuts in 2025 fell short of initial forecasts
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