NEW YORK, Jan. 2 (Xinhua) -- U.S. stocks lost growth momentum and closed mixed on the first trading session of 2024, as Apple Inc. shares dropped on a broker downgrade and U.S. Treasury yields climbed.
The U.S. stock market concluded on a high note in 2023, witnessing the S&P 500's impressive climb for nine consecutive weeks, marking its most remarkable weekly winning streak since 2004. During this period, risk assets surged due to the resilient economy, cooling inflation, and indications from the Federal Reserve signaling an end to rate hikes, alongside predictions of forthcoming rate cuts later in the year. Amid these positive movements, the market navigated challenges such as a regional banking crisis and ongoing conflicts in Ukraine and the Middle East.
