2024 Is Coming: The Nasdaq-100 Technology Index Could Soar Next Year, According to History
The stock market has sent investors on a roller-coaster ride over the past few years. Ultra-low interest rates and pandemic-induced government stimulus sent the Nasdaq-100 technology index into rally mode during 2020 and 2021. But last year, the U.S. Federal Reserve began to aggressively tighten monetary policy, which sent the index plunging 33% for the year.
Based on historical data going back to its inception in 1986, the Nasdaq-100 rarely falls in consecutive years. True to form, it has bounced back with a 39% gain year to date. With just three months remaining in the year, it's a good time to look ahead to 2024 and assess what could be in store for the market.
Historical data can offer useful hints about how the Nasdaq-100 will perform next year, and the picture looks very positive. I'll break it down below.
Source Fool.com
