Wall Street Closes 2013 With Record Gains

Both the S&P 500 and the Dow Jones Industrial Average enjoyed annual jumps not seen since the 1990s

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Seth Wenig / AP

A trader wears glasses celebrating the new year while working on the floor at the New York Stock Exchange in New York City, on Dec. 31, 2013.

Wall Street ended 2013 on a record high Tuesday, with both the S&P 500 and the Dow Jones Industrial Average posting annual jumps not seen since the 1990s.

The S&P 500 closed at 1,848.35, up .4 percent and 29.6 percent on the year, the largest annual increase since 1997. The Dow Jones Industrial Average also closed at a record high, reaching 16,576.73, up .4 percent from a day earlier and 26.5 percent on the year, marking the largest annual jump since 1996. The Nasdaq closed at its highest level in 13 years, rising 38.3 percent on the year.

“It’s been a great year,” said Matthew Kaufler, portfolio manager at Federated Investors, to CNBC.com. “If you look at it from what the prevailing sentiment was at the beginning of the year, it has surpassed even the most bullish of predictions.”

The record highs finish a year of steady and sometimes soaring growth. The Dow Jones closed at a record high 52 times this year.

[CNN Money]

[CNBC.com]

5 comments
paulgeorges
paulgeorges

Someone with left ideas is accused to be a communist in USA. I'm not a communist in France but I don't think it's normal to live letting people dying in front of you without any compassion at all. Sweeden ,Norway,Danmark have bigs taxes but because of people solidarity life is better than many western countries .People in this countries have a very strong purchase power and wealthy pays their fair share of taxes .Charly Chaplin knew the meaning of life of the poorest because of his own life. He was popular because of his closet behaviour with people. And not to forget his ideas.    http://www.youtube.com/watch?v=YJW8DHds_kc

DeweySayenoff
DeweySayenoff

The wealthy got far wealthier than they had been.  Everyone else stayed where they were or got poorer.  The wealthy have paid money to the GOP (far more than to the leftists) to make DAMN SURE THE GRAVY TRAIN KEEPS ROLLING FOR THEM.

So, I figure the average American hates the wealthy, the average Republican hates, well, everyone EXCEPT the wealthy (since they've been supporting them all along) and mostly everyone hates everyone else.  Let the war between the classes and political ideologies start tonight.  I don't see us surviving it, but at least we get to express our feelings toward one another in a manner that is more fitting with the amenity we express here with mere words.

After all, we live in the States of America these days because there sure as hell isn't anything United about us anymore.

HankRodgers
HankRodgers

Yep, the speculators and market manipulators bought low after the big drop they caused, and have now gotten rich once again on the upside. Now, they will start selling gradually, buying "puts", and starting to put out a lot of "bad news" so that they can get rich on the downside too. You may get lucky, but you will not succeed for long, against the professional traders and manipulators (and the banks, rating agencies and pathetic government regulators that enable them). There is also a great deal of outright FRAUD, both in the market and big player organizations, and in the businesses whose bonds and shares they are selling. THE STOCK, BOND, COMMODITY AND MUTUAL FUND MARKETS ARE NOT FOR REAL PEOPLE, DON'T GO THERE!