Stellar year for stocks; more highs forecast

A trader celebrates 2017 closing bell at the New York Stock Exchange yesterday. Photo: Bryan R. Smith / AFP / Getty Images

"The major stock indexes made double-digit gains for the year, led by Apple, Facebook and other technology stocks," per AP Business Writer Alex Veiga.

The takeaway: "By some measures, the market is looking expensive. The S&P 500 is now trading around 18 times forward earnings. That's above the historical average of 16."

  • "Even so, eight years into the bull market, many analysts expect stocks to keep climbing next year.