The U.S. stock market rallied in 2023 despite the Federal Reserve's aggressive stance and concerns regarding an impending recession and growing geopolitical tensions. The tech-focused Nasdaq Composite index surged by over 43% in fiscal 2023, marking its best year since 2020. The broader S&P 500 index rose 24.2% last year, while the Dow Jones Industrial Average gained nearly 14%. The Canadian S&P/TSX Exchange rose by nearly 8% last year. The U.S. and Canadian equity markets' stellar performance,
The firm said 2023 was an “exceedingly difficult year” for short sellers, after the Nasdaq Composite Index (.IXIC) surged 43.4% and the S&P 500 rose 24.2%. Investors who short a stock are betting that its price will fall.