Stock Market Update Thursday, December 26th, 2019
Stocks continued their march higher with the S&P, DOW, and NASDAQ all finishing the day with new records.
Markets were closed yesterday for Christmas after a half day of trading on Tuesday that left stocks mixed.
But today stocks opened higher and continued to work their way into uncharted territory.
With today’s rally, the NASDAQ finished higher for the 11th day straight, pushing past the 9,000 mark for the first time ever.
Here’s where the major indices ended the day:
- The S&P finished with a 0.5% gain. Up 17 points, the S&P ended at 3,240.
- The DOW ended higher by 0.4%. Adding 106 points, the DOW closed at 28,621.
- The NASDAQ was up 0.8%. With a 70 point gain, the NASDAQ finished at 9,022.
Crude Oil (CL) finished higher for the 3rd day straight. Up 1.0%, CL ended the day at $61.70.
Amazon (AMZN) jumped 4.5% today, after this year’s holiday shopping broke all records!
MasterCard (MA) data supported the strong sales season. MasterCard SpendingPulse, a tool that tracks online and in-store purchases, showed that sales increased 3.4% from November 1st through December 24th (compared to last year). And online sales were up 18.8%!
Love him or hate him, the S&P is up 50% since President Trump was elected. And according to Bespoke Investment Group this is more than double the 23% return typical for the first 3 years into a President’s term (going back to 1928).
Here is the economic calendar for the week:
Real Time Economic Calendar provided by Investing.com.
This Stock Market Update was provided by Rockwell Trading Services LLC.