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]