Energies
The U.S. stock market concluded the final full week of 2024 with moderate gains, despite some volatility. The S&P 500 and Nasdaq Composite indexes rose by approximately 1.77% and 1.8%, respectively, over the past week. This performance contributes to their impressive annual gains, with the S&P 500 up about 25% and the Nasdaq over 31% for the year.
The “Santa Claus rally,” a typical year-end market upswing, was observed, though its momentum appeared to wane towards the week’s end. Major indexes experienced declines on Friday, influenced by rising Treasury yields and investor profit-taking.
In the technology sector, megacap stocks, often referred to as the “BATMAN” group—comprising Broadcom, Nvidia, Tesla, Amazon, Microsoft, Meta Platforms, Apple, and Alphabet—played a significant role in supporting the market. These companies have seen substantial share price increases, contributing notably to the S&P 500’s market capitalization growth.
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