Business

PHOTO: US stocks were unstoppable

Wednesday, January 01, 2014    

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A trader wears glasses celebrating the New Year while working on the floor at the New York Stock Exchange. The stock market was unstoppable in 2013. A US government shutdown, fear of a default, the threat of military action in Syria, big budget cuts, and a European country looking for a bailout — any number of events might have derailed the stock market. But they didn't. And if skittish investors jumped out of stocks, they lost out. "2013 would have been a good year to wear noise-cancelling headphones," says Dean Junkans, chief investment officer for Wells Fargo Private Bank. "There were a lot of things that happened and the market kept moving higher."The Standard & Poor's 500 had its best year since 1997, ending up 29.6 per cent. The Dow Jones industrial average also turned in a stellar performance: It closed up 26.5 per cent, its best gain since 1995. Combined, the two indexes closed at record highs on 97 occasions.

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