The stock market declined slightly on Friday to close the last trading day of the year. Despite such, the major indices powered through economic uncertainties during the year including aggressive interest rate hike of the Federal Reserve.
For 2024, investors are hoping that the economy remains strong and that the central bank put an end to its rate-hiking campaign.
Overall, S&P 500 dropped 0.3% to 4,770, while NASDAQ fell 0.6% to 15,011.
Tweet of the Day
$MSFT Redmond's "iPhone Moment" is Here with AI Monetization https://t.co/CtHplraIQS pic.twitter.com/gFiBip6lOU
— Kaushik (@BigBullCap) December 29, 2023
Chart of the Day
Here is the ten-year chart of Palo Alto Networks (PANW) as of December 6, 2023, when the stock was at $287.
Palo Alto Networks has been a stock market leader recently as hackers have executed some high profile data breaches. MGM, Ceasars, Clorox, VF Corp, and Comcast have all had data breaches this year.
In addition to positive PR, Palo Alto Networks has been delivering some good profits this year. During the past four quarters, profit growth has averaged 83% per quarter. In last quarter’s earnings release, management said had one of the strongest starts to its fiscal year.
PANW is part of the Growth Portfolio and Aggressive Growth Portfolio. Cybersecurity spending s looking up for 2024.
