Stock market: S&P 500 approaches record high

The S&P 500 rose 1.77 points to 4,783.35, up more than 24% for the year
The Nasdaq composite fell 4.04 points but is on track for a strong year
The Dow Jones Industrial Average also rose 53.58 points to 37,710.10

Updated: Dec 28, 2023 / 05:25 PM CST

FILE – Traders work on the floor at the New York Stock Exchange in New York, July 1, 2022. (AP Photo/Seth Wenig)

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(NewsNation) — The S&P 500 finished near an all-time high Thursday, approaching the year’s final trading day.

The S&P 500 rose 1.77 points to 4,783.35, up more than 24% for the year, the Associated Press reported. Nearly nine straight weeks of gains have pushed the benchmark index closer to breaking its all-time high set in January of 2022.

Meanwhile, the Nasdaq composite, which fell 4.04 points to 15,095.14, is on track for its best year since 2003, CNBC reported.

The Dow Jones Industrial Average also rose 53.58 points to 37,710.10.

The gains are a sign of “extreme resilience,” 50 Park Investments CEO Adam Sarhan told CNBC. He told the outlet that the risk now is a recession since “we didn’t have the reset everybody coming into this year was expecting.”

The Associated Press contributed to this report.