Wall Street experienced historic rally in 2024 driven by AI and tech surge, benefiting various sectors.

From Nasdaq: 2024-12-30 10:24:00

In 2024, Wall Street saw a historic rally driven by the AI craze, rate-cut optimism, and tech stock surge. The Nasdaq rose by 31.4%, the S&P 500 by 25.2%, and the Dow Jones by 14.1%. The year was influenced by Fed rate cuts, benefiting sectors like real estate, consumer discretionary, and financial services.

President-elect Trump’s policies on immigration, tariffs, taxes, and regulations are expected to boost the economy. Trump’s focus on energy independence could benefit fossil fuel industries. Houlihan Lokey, a global investment bank, is positioned to benefit from Trump’s deregulation and lower corporate taxes.

Bitcoin surged 130% in 2024 and is expected to continue its bull run under the Trump administration. Coinbase, the largest US cryptocurrency exchange, saw strong investor demand. AI applications are set to drive market growth, particularly in the utility sector, as companies invest in AI technology for energy efficiency.

The “Magnificent Seven” tech stocks, including NVIDIA and Tesla, drove market gains in 2024 with a combined valuation exceeding $18 trillion. These stocks are expected to see further gains in 2025. Zacks is naming the top 10 stocks for 2025, with a history of sensational performance under the guidance of Director of Research Sheraz Mian. Don’t miss the release on January 2nd.



Read more at Nasdaq: Wall Street Stories of 2024 Likely to Stay Hot in 2025: Key Picks