Day traders New Year long weekend lounge Dec 29 - Jan 1

Crikey! Another year done and dusted.

Not a vintage trading year by any measure, but the market should commence 2024 in a better place and with more momentum than it started 2023. If the global economy holds up and the rate cuts start flowing, there are reasons for cautious optimism for the year ahead.

Happy New Year when it comes to all who contributed here this year and also to the lurkers who find something in these threads, even if it's only entertainment at the follies of others. There are always nuggets to be found if you dig deep enough. May 2024 make us a little wiser, as well as older.



End-of-day summary:

A positive year for investors ended with a fifth straight winning week and a second straight monthly advance, but no record close as a dip in commodity prices hindered the last session of 2023.

The ASX 200 eased 23.5 points or 0.31% this session following declines in gold, copper, nickel, oil and iron ore. Newmont, Santos and Woodside were the biggest drags during a downbeat end to the year.

The market finishes 2023 in a better place than it started, thanks mostly to a blistering run since late October. The ASX 200 put on 800 points across November and December as a long-awaited cooldown in inflation convinced some investors the next move in rates here and in the US will be down.

The Australian benchmark gained 552 points or 7.8% for the year. While that is a vast improvement on the index's 5.5% loss for 2022, this year's domestic gains fall some way short of Wall Street returns. With one session to go, the S&P 500 was up nearly 25%, the Nasdaq 44% and the Dow nearly 14%.