Stocks end 2023 up 20% for the year as resilient economy energizes investors

Image for article Stocks end 2023 up 20% for the year as resilient economy energizes investors
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  • It marked a big psychological shift for investors, said Quincy Krosby, chief global strategist at LPL Financial.“Investors were able to accept that fact that the market would close the year on a higher note,” Krosby said..
  • “Above all else, it was broad participation in the market that reinforced and confirmed gains for smaller company stocks were particularly important.”Shares in European markets edged higher Friday, also after a year of gains..
  • It gained 27% in 2023, its best year in a decade as the Japanese central bank inched toward ending its longstanding ultra-lax monetary policy after inflation finally exceeded its target of about 2%.The Hang Seng index in Hong Kong ended flat, while the Shanghai Composite index gained 0.7%..
  • As a result, investors now expect the Fed to begin cutting rates as early as March.The Fed has signaled three quarter-point cuts to the benchmark rate next year..
  • The Russell 2000 index finished 2023 with a 15.1% gain after falling 21.6% in 2022.The rally that started in November helped broaden the gains within the market beyond just the big technology companies..
  • Benchmark indexes in France and Germany made double-digit advances, while Britain’s has climbed just under 4%.Asian markets had a mixed session on the last trading day of the year for most markets..
BusinessPeople pass the front of the New York Stock Exchange in New York, Tuesday, March 21, 2023. (AP Photo/Peter Morgan, File) APBy DAMIAN J. TROISE, Associated PressDecember 29, 2023 | 522 [+5182 chars]

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