Wall Street closed out a remarkable year for equities, with the U.S. stock market reaching record highs. The market was boosted by the artificial intelligence boom and the U.S. Federal Reserve's interest rate cuts. The Nasdaq surged nearly 29% in 2024, while the S&P 500 is set to gain over 23%, marking its best two-year run since 1997-1998. The Dow is on track for a 13% advance for the year. Looking ahead to 2025, investors are cautious about the impact of the incoming Trump administration and geopolitical instability. However, the AI boom is expected to continue growing.