By: Hibah Yousuf
December 24, 2013
The Dow rose about 30 points in early trading, and the S&P 500 and Nasdaq were also barely higher. But the slim gains were enough to push the Dow and S&P 500 to fresh all-time highs, and the Nasdaq to a new 13-year high.
The stock market will close at 1 p.m. ET Tuesday, and markets will remain closed Wednesday for Christmas Day.
As investors and traders prepared for the upcoming Christmas break, trading volume was extremely low.
Though Tuesday is expected to remain a tame trading day, markets have certainly made big moves so far this year. The Dow Jones industrial average and S&P 500 are both up more than 20%, while the Nasdaq has soared over 30%.
The broad rally puts the Dow on track for its best year since 2003 and the S&P 500 on pace for its best year since 1997.This year’s gains have been driven by ongoing economic stimulus from the Federal Reserve, increased confidence in the economy, solid corporate earnings growth, and more individual investors entering the stock market.
The Fed announced last week that it will pull back its bond buying program by a bit in January. But most experts believe the bull market, which began in early 2009, will continue for a sixth year in 2014, albeit at a more modest pace.
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