Wall Street to Party '90s Style After Earth-Shattering Gains of 30% in 2013
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The final results are in and 2013 was a banner year for stocks:
Dow Jones +26.5%
S&P 500 +29.6%
Nasdaq +38.3%
It was the largest gain in the S&P 500 since 1997, the largest in the Dow since 1996 and the Nasdaq's best since 2009.
Top performers in the S&P 500 included Netflix (NASDAQ: NFLX) up 298%, Micron (NYSE: MU) up 243% and Best Buy (NYSE: BBY) up 237%.
In the Dow, Boeing Co (NYSE: BA) led the way with an 81% gain. American Express (NYSE: AXP) surged 57%, Walt Disney (NYSE: DIS) 53% and Nike (NYSE: NKE) 52%. The lone Dow loser was IBM (NYSE: IBM), which was down a mere 2%.
In the Nasdaq triple-digit gainers were abound with ACADIA Pharmaceuticals (NASDAQ: ACAD) up 444%, Eagle Bulk Shipping (NASDAQ: EGLE) up 205% and Facebook (NASDAQ: FB) up 105%, among scores of others.
Wall Street can thank easy money policies from the Fed and ultra-low interest rates for this year's earth-shattering stock gains.
Next year remains a wild card as the Fed beings to taper QE in January to the tune of $10 billion a month to a pace of $75 billion. If the economy can flourish on its own with dwindling Fed help, stocks can again see healthy gains. Likewise, if the Fed keeps the primer pumped and does little to wind-down QE stocks could also gain. However, if the Fed exits QE and the economy continues to flounder stocks could correct harshly.
It was the largest gain in the S&P 500 since 1997, the largest in the Dow since 1996 and the Nasdaq's best since 2009.
Top performers in the S&P 500 included Netflix (NASDAQ: NFLX) up 298%, Micron (NYSE: MU) up 243% and Best Buy (NYSE: BBY) up 237%.
In the Dow, Boeing Co (NYSE: BA) led the way with an 81% gain. American Express (NYSE: AXP) surged 57%, Walt Disney (NYSE: DIS) 53% and Nike (NYSE: NKE) 52%. The lone Dow loser was IBM (NYSE: IBM), which was down a mere 2%.
In the Nasdaq triple-digit gainers were abound with ACADIA Pharmaceuticals (NASDAQ: ACAD) up 444%, Eagle Bulk Shipping (NASDAQ: EGLE) up 205% and Facebook (NASDAQ: FB) up 105%, among scores of others.
Wall Street can thank easy money policies from the Fed and ultra-low interest rates for this year's earth-shattering stock gains.
Next year remains a wild card as the Fed beings to taper QE in January to the tune of $10 billion a month to a pace of $75 billion. If the economy can flourish on its own with dwindling Fed help, stocks can again see healthy gains. Likewise, if the Fed keeps the primer pumped and does little to wind-down QE stocks could also gain. However, if the Fed exits QE and the economy continues to flounder stocks could correct harshly.
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