From Nasdaq:

U.S. stocks ended the year on a down note, causing concerns about what 2024 will hold, but the Dow Jones Industrial Average has reached an all time high. Some analysts believe the selling that transpired in early 2023 will repeat in early 2024 while the Fed may still cut rates in March. All three indexes were on track to end the year with double digit gains, but still ended the trading day in the red.

Nvidia and Meta Platforms, the top gainers in 2023, fell by 0.8% and 1.4%, respectively, with the technology sector lagging overall. The Russell 2000, which surged in 2023, saw a 1.3% decline, while Uber Technologies and Lyft lost 2.3% and 4%, respectively, after a downgrade from Nomura. Declining issues outnumbered advancers for a 2.64-to-1 ratio on the NYSE and a 2.54-to-1 ratio on the Nasdaq.

The FedWatch tool recorded a 74% probability of rate cuts in March 2024. The year 2023 included an end to aggressive Fed rate hikes, the U.S. banking crisis, an artificial intelligence stocks boom, the Israel-Hamas war, and bolstered policy easing bets. A significant amount of new highs and lows were recorded for the S&P and Nasdaq indexes in 2023.



Read more: US STOCKS-Wall Street loses steam on last day of upbeat 2023