Stock futures inched upwards on Friday in anticipation of a strong finish to the year on Wall Street, with the possibility of reaching new milestones.
S&P 500 futures saw a modest increase of 0.1%. Meanwhile, Dow Jones Industrial Average futures gained 21 points, or 0.1%, and Nasdaq-100 futures climbed by 0.1%.
Entering the final trading day of 2023, the S&P 500 is less than half a percentage point away from a new record high, potentially marking an impressive culmination to a rally that gathered momentum in the latter part of the year. In 2023, the S&P 500 has witnessed a substantial 24.6% increase, with the Dow rising by 13.8%. Notably, the Nasdaq Composite has outpaced its counterparts, boasting an impressive 44.2% gain and on track for its largest annual increase since 2003.
Throughout the year, the buzz around artificial intelligence has played a significant role, driving substantial gains for prominent stocks such as Nvidia and Microsoft. While the average stock struggled amidst rising interest rates, the tech-heavy Nasdaq propelled forward, demonstrating its superior performance.
Source (CNBC)
