2 Top Growth Stocks to Buy Hand Over Fist Before the Nasdaq Soars Higher in 2024
The Nasdaq-100 Technology Sector index has been in scintillating form over the past year, with impressive gains of 53%. Investors have been buying tech stocks hand over fist amid the cooling inflation, a strong economy, and new catalysts such as artificial intelligence (AI) that boosted confidence in this sector.
The good news is that the could continue to head higher in 2024. History suggests that the year in which the Nasdaq clocked gains of 40% or more is usually followed by another year of solid growth. More specifically, the Nasdaq-100 recorded an average gain of 24% in the year that follows a year of 40%-plus increase.
There is a good chance the Nasdaq-100 indeed heads higher in 2024 thanks to several favorable developments: an expected reduction in interest rates, a lowered chance of recession, and a further drop in inflation.
Source Fool.com
