Wall Street’s final session of 2023 saw stocks taking a breather near all-time highs. For bulls defying every doomsday scenario, that was just a blip for a market notching its longest weekly advance since 2004.
The uneventful Friday before the holiday had equities halting a five-day advance. Signs of exhaustion have emerged after a more than $8 trillion surge in the S&P 500 this year. Despite concerns ranging from Federal Reserve uncertainty, recession jitters and geopolitical risks, the gauge notched its ninth straight week of gains.