The U.S. stock market had a record year in 2023, defying gloomy forecasts and reaching unprecedented highs. The surge was driven by the artificial intelligence revolution and the Federal Reserve’s more accommodating stance. The tech-heavy Nasdaq 100 had its best performance since the dot-com boom, while the SPDR S&P 500 ETF Trust is set to become the first ETF to reach $500 billion. Artificial intelligence surpassed bitcoin in popularity, and the New York Times sued OpenAI and Microsoft over the use of its articles to train AI chatbots. Looking ahead, there is optimism for the S&P 500 as factors like interest-rate stabilization and a strong job market are expected to drive it to new highs. Apple is expected to shift its focus to wearable technology, while Elon Musk endorsed the design of a proposed $25,000 Tesla compact car. However, Tesla has not committed to a timeline for production.
