It's amazing what a difference a year can make on Wall Street. With the three major stock indexes continuing to oscillate between bear and bull markets in successive years, 2023 turned out to be a phenomenal year for the bulls. Although the Dow Jones Industrial Average powered to a record high, it was the 43% yearly gain for the Nasdaq Composite (NASDAQINDEX: ^IXIC) that stole the show.

But in spite of this incredible gain following the 2022 bear market, the growth-fueled Nasdaq still hasn't eclipsed its previous all-time high. As of the closing bell on Jan. 3, 2024, the Nasdaq remained more than 9% below its high-water mark.

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Source Fool.com