From Morningstar:

This year’s stock market rally surprised investors after fears of an impending recession and Federal Reserve interest rate increases. The Morningstar US Market Index surged 26.4%, with technology stocks leading the charge. Sectors like energy and utilities struggled in 2023, while growth stocks posted their strongest performance in 25 years. The overall trend in 2023 was “a reversal of fortune” as sectors that struggled in 2022 surged ahead, while those that were buoyant in 2022 lagged behind. The year was memorable on many levels.



Read more: What Caused 2023’s ‘Everything’ Rally?