RECAP
U.S. stocks traded modestly higher Thursday, pushing the S&P 500 to within just a few points of a fresh record closing high.
The $S&P 500 Index(.SPX.US)$ gained 2 points, or 0.04%, to 4,783. The $Dow Jones Industrial Average(.DJI.US)$ rose by 53 points, or 0.14%, to 37,710. The $Nasdaq Composite Index(.IXIC.US)$ fell 4 points, or 0.03%, to 15,095.
U.S. stocks opened higher as the penultimate trading session of 2023 got un...

In 2023, the AI craze triggered by ChatGPT stimulated U.S. technology stocks, which had been plagued by missed earnings and rising bond yields in 2022. The FOMO (fear of missing out) sentiment surpassed concerns about economic recession and interest rate levels not seen in 22 years on several occasions. The Magnificent Seven, led by $NVIDIA(NVDA.US)$, made remarkable progress that yea...