The Nasdaq Composite index had a solid 2024 with impressive gains of almost 31% during the year. This isn't surprising considering the tech-heavy nature of the index that benefited from the impressive growth reported by several technology companies last year thanks to catalysts such as artificial intelligence (AI).

Here's what to expect from the stock market, along with some of Wall Street's hottest trends and most influential businesses, in the new year.

The Nasdaq Composite increased 243.30 points or 1.2% to close at 19,864.98, also booking back-to-back gains. The tech-heavy index is up 2.9% year to date, its best start to a year since 2009, when it rose 4.8%.

The Nasdaq Composite (NASDAQINDEX: ^IXIC) has been a great performing index, as it beat the broader S&P 500 (SNPINDEX: ^GSPC) in 2024 by rising 28.6% versus the S&P 500's 23.3%. It wouldn't surprise me to see those results again in 2025,

STORY: U.S. stocks closed mostly higher on Monday, thanks to a rally in chip stocks. But the Dow ended marginally lower. The S&P 500 gained more than half a percent and the Nasdaq rose about one-and-a-quarter percent.