US stocks achieve best annual performance since 2020
The US stock market ended 2023 on a high note, delivering its strongest performance in years despite a mixed final trading day.
On Friday, the Dow Jones Industrial Average dipped slightly, shedding 20 points or 0.05%, to close at a new record high of 37,689. Despite the day's marginal loss, the blue-chip index celebrated a robust annual increase of 13.7%.
Meanwhile, the S&P 500 declined by 13 points, or 0.28%, settling at 4,769. However, the index notched its ninth consecutive week of gains, its longest winning streak since 2004, and surged 24.2% over the year.
The Nasdaq Composite dropped 83 points, or 0.56%, ending the day at 15,011. Yet, it recorded a substantial yearly gain, soaring 43.4% — the highest since 2020.
In other market indicators, the VIX volatility index, often referred to as the "fear index," decreased slightly by 0.16% to 12.45. The 10-year US Treasury yield edged up 1.1% to 3.891%.
Currency movements saw the dollar index rise modestly by 0.16% to 101.39, while the euro declined 0.2% to $1.1036 against the dollar.
Precious metals experienced a downturn despite recent upticks. Gold fell 0.1% to $2,063 per ounce, and silver decreased by 0.8% to $23.79.
Oil prices also finished in the red. Brent crude, the global benchmark, was priced at $77.06 per barrel, and the US benchmark, West Texas Intermediate crude, stood at $71.25. Both benchmarks recorded their first annual losses since 2020, each dropping around 10% over the year.
