A rapidly developing American economy trumped issues overseas to elevate the stock market to new highs this year.
Despite losses for the day in light pre-holiday trading, the Standard & Poor’s 500-stock index closed on Wednesday with a gain of 11.39 percent for 2014 — 13.68 percent when reinvested dividends are included. It was the third consecutive year that the market benchmark has risen by more than 10 percent.
Other market measures also ended the year on a strong note. The Dow Jones industrial average closed up 7.52 percent for 2014, while the Nasdaq composite index ended up 13.4 percent. Can the party in American stocks keep going in 2015?
“We don’t see a lot on the horizon that could derail the U.S. market in particular,” said Raymond Nolte, chief investment officer at SkyBridge Capital, an investment firm focused on hedge funds. “But there could be continued volatility.”