2014 has marked a milestone in the growth story of the u.s. economy, as we are now on the cusp of the full employment level long after the cursed recession. The economy grew at the rate of 4.6% in Q2 and 3.9% in Q3 ─ not a small feat for a still-recovering developed economy, saw the S&P 500 (SPX) hit new highs close to 50 times and cross the 2,000 mark for the first time in history; still the year was not devoid of concerns.   

Geopolitical concerns overpowered in the initial part of the year while global growth worries and an unbelievable crash in oil prices in the latter half swept away the risk-on trade mood occasionally. Though the U.S. bourses hit highs in 2014, dumping of growth and momentum stocks thanks to overvaluation concerns (especially after the monumental 35% gains recorded by the S&P last year), Fed uncertainty and Western sanctions on Russia forced the broader markets to move up and down at regular intervals.