Market Performance: December 24, 2023.

These Stock Market Sectors Dominated in 2023. Is There More Room to Run in 2024?

On the surface, 2023 has been a banner year for the stock market, with the S&P 500 up 20.4% year to date and the Nasdaq Composite up 37.9% year to date. But dig deeper, and you'll realize that the gains almost entirely come from a knockout performance from three massive sectors: technology, communications, and consumer discretionary.

The Technology Select Sector SPDR Fund (XLK 0.13%), The Communication Services Select Sector SPDR Fund (XLC 0.01%), and the Consumer Discretionary Select Sector SPDR Fund (XLY -0.74%)are three exchange-traded funds (ETFs) that do an excellent job mirroring the performance of their respective sectors.

Millionaires Have These 3 Financial Priorities. You Should Have Them, Too

For some people, attaining wealth is a matter of luck. But for many, it's a matter of hard work and patience.

A lot of people with wealth don't get to that point overnight. Rather, they work hard and save well for many years until they reach a solid place.

But it's not just that wealthy people push hard to get to where they are. It also takes an effort to retain and build on wealth.

With that in mind, Ameriprise surveyed a group of people with $1 million or more in investable assets to understand how they built their savings and what their goals are. And it found that these are millionaires' top three priorities.

Budgeting for 2024? Set aside extra money for car insurance

If you’ve set a New Year’s resolution to save money in 2024, you might want to take a closer look at your car insurance policy.

Monthly rate data from Quadrant Information Services shows that average car insurance premiums increased substantially throughout 2023, but certain months, states and carriers saw bigger increases than others.

Our forecast for 2024 indicates a high likelihood for rate increases for most Americans, but some may need to budget more than others in the new year.

Is car insurance going up in 2024? 

We cannot peer into a crystal ball to predict how auto insurance rates will fluctuate next year. However, if the 2023 data is any indicator, rates are on the rise. In January 2023, the national average cost of a full coverage car insurance policy was $2,014 per year. Minimum coverage averaged $622 per year.

By December 2023, the average full coverage rate rose by 19 percent to $2,395 per year. The average annual minimum coverage rate also increased by 19 percent from January to December, growing from $622 to $738.

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