Published on 21 Jan 2024 on Zacks via Yahoo Finance
3 Large-Cap Growth Funds to Buy as Indexes Enter Bull Market
Markets have rebounded after a rough start to 2024. Wall Street is on a high once again after a solid 2023, with all three major indexes having officially entered the bull market last week.
The Dow, which hit a record high at the end of last year, ended at 37,863.80 points on Jan 19, while the Nasdaq finished at 15,310.97 points, also to hit a record high. The S&P 500 was the biggest gainer, recording its highest close since the January 2022 high and surpassing its earlier intraday high to settle at 4,839.81 points.
The S&P had lost 19% in 2022 as inflationary pressures took a toll on markets. The Nasdaq and the Dow, too, had a difficult 2022. However, stocks rebounded in 2023 amid inflationary pressures and the Federal Reserve’s aggressive monetary stance that saw it hiking interest rates by 525 basis points.