Tag Archives: Nasdaq

Nasdaq closes above 9,000 for first time as rally rolls on

From MSN: Stocks ended higher Thursday, hitting record highs as the market rallied into the end of 2019.

The Dow closed 105 points higher, while the S&P 500 climbed 0.5%. The Nasdaq finished about 9,000 for the first time, rising nearly 0.8% to 9,022.

The three major averages all hit new all-time highs. Amazon led the gains, jumping more than 4% after the e-commerce giant said the holiday shopping season broke all records. Trading volumes remained thin this week.

Stocks have been piling up records as the market wraps up 2019. The S&P 500 has risen 3% this month and 8.6% this quarter, bringing the year-to-date gains to 29%. The benchmark has a good chance at scoring a historic year: It is now less than 1 percentage point from posting the best annual performance since 1997.

“Stocks look like they just wont quit. The rally is for real,” Chris Rupkey, a chief financial economist at MUFG, said in a note. “The economy’s engines continue to hum.”

U.S. weekly jobless claims decreased 13,000 to a seasonally adjusted 222,000 for the week ended Dec. 21, the Labor Department said Thursday. The number is slightly higher than estimates of 220,000 in a Dow Jones poll of economists.

Markets in Europe, Australia and Hong Kong remained closed Thursday for the holiday. Trading volumes were muted in the U.S. with the SPDR S&P 500 ETF Trust (SPY) trading about 23.5 million shares Thursday, well below its 30-day volume average of 60 million shares.

In a shortened Christmas Eve session Tuesday, the S&P 500 finished flat and the Nasdaq rose to another record. The tech-heavy index also posted its ninth consecutive record close for the first time since 1998.

Read the whole story here.


Better than Drudge Report. Check out Whatfinger News, the Internet’s conservative frontpage founded by ex-military!

Please follow and like us:

Share and Enjoy !

0 0