The U.S. stock market saw an impressive performance in 2023, with benchmark indexes such as the S 500, the Nasdaq Composite, and the Dow Jones Industrial Average reporting gains of 24.2%, 43.4%, and 14%, respectively. This was a commendable feat, considering that the year was also marked by exacerbated worries about rising inflation and the possibility of the U.S. defaulting on its debt.

Although the current inflation level in the U.S. remains above the Federal Reserve's annual target of 2%, it has eased significantly from that at the start of 2023. Subsequently, the central bank has suggested three rate cuts in 2024. This bodes well for the entire stock market, including many of the Dow stocks, such as (NASDAQ: MSFT) and Visa (NYSE: V). Here's why these two stocks look well-positioned to soar in 2024 and beyond.

Technology titan Microsoft has built a diversified business catering to both enterprise and consumer clients. While previously well-known mainly for its Windows operating system and Office productivity suite, the company has been in the news lately for its Azure cloud computing platform, gaming business, and partnership with ChatGPT developer OpenAI. Microsoft's strategy of integrating AI capabilities across its entire technology stack has now started bearing fruit.

Continue reading

Source Fool.com