Stock Market Today Live Updates: Dow Futures Steady, S&P 500 Approaches Record High - The Wall Street Journal

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Stock Market Today: S&P 500 Futures Steady on Last Trading Day of 2023

Markets could end the year with an all-time record for the S&P 500

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Dec. 29, 2023 at 9:10 AM EST

It’s the last trading day of a blockbuster year, and the S&P 500 is just shy of a new record.

Stock futures held steady Friday. If stocks rise, it will be the sixth consecutive day of gains for the index. A big enough jump–around 0.3%–would take the S&P 500 past the previous high-point reached in January 2022.

The index is poised to finish the year up 25%, defying the impact of higher interest rates, a new war in the Middle East (let alone the continuing conflict in Ukraine) and a regional banking crisis.

The biggest gainer in the S&P 500 over 2023 was chipmaker Nvidia, which gained a stonking 240% through Thursday. Not far behind is Meta Platforms, up nearly 200%, rewarding those who had faith in Mark Zuckerberg to turn the Instagram owner around.

Another big winner: Bitcoin rebounded 156% and trades for more than $42,500.

In market action:

Futures contracts tied to the Nasdaq 100 and Dow industrials also rose. The Dow hit a new record high Thursday.

European stocks were closing the year strongly, too. The Stoxx Europe 600 Index inched higher, on track to finish 2023 up 12.5%, its largest annual gain since 2021.

Not everyone had a great year. Hong Kong's Hang Seng Index fell for the fourth straight year, dropping 14% in 2023. It was flat Friday.

Oil prices have slipped 10% this year. Prices rose slightly Friday, the final trading day of 2023.

The dollar is down 2% over 2023, when measured against a basket of major currencies.

By Angus Berwick

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