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## Stellar Performance of US Stock Market Indexes in 2023

The performance of the major US stock market indexes in 2023 has been exceptional, with the Nasdaq Composite leading the way with nearly a 40% advance. As the year comes to a close, investors are closely monitoring the potential record closes for the Dow Jones Industrial Average and the benchmark S&P 500.

## Potential Record Closes for Dow Jones Industrial Average and S&P 500

The Dow Jones Industrial Average recently achieved its third-highest close on record, settling at 36,577.94. It is now just about 120 points, or less than 1%, away from its record closing high of 36,799.65, which was reached on January 4, 2022. Meanwhile, the S&P 500 closed at 4,643.70 on Tuesday, just over 3% away from its closing record high of 4,796.56, achieved on January 3, 2022. The Nasdaq, on the other hand, settled at 14,533.40 on Tuesday, which is approximately 10% away from its record high of 16,057.44 reached in November 2021.

## Outlook for the Future

As reported by Yahoo Finance’s Josh Schafer, the Federal Reserve holding interest rates steady has been the most favorable environment for stocks compared to periods just before or after the Fed either raises or lowers rates. With the Fed expected to remain on hold Wednesday, and possibly into the second or third quarter of 2024, market history appears to be in favor of the bulls.

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