What a year!!!

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Stock Market Update Tuesday, December 31st, 2019

The final numbers are in. And although stocks retreated slightly from record highs, 2019 was the best year for stocks in 6 years!

The S&P finished the year with a 28.9% gain.

The NASDAQ saw an impressive 35.2% gain for the year.

And the DOW was up 22.3%.

It was the best year for the S&P and the NASDAQ since 2016 when the S&P finished higher by 29.6% and the NASDAQ was up 38.3%.

Here’s what traders focused on in 2019:

  • Trade – The trade war between the U.S. and China pushed stocks back and forth this year. And the numbers don’t look too hot. One study found that tariffs have cost the U.S. $42 billion. And a new study from the Fed revealed that since tariffs went into effect in 2018 the U.S. has seen higher producer prices and a loss of manufacturing jobs.

    But in the end, traders are optimistic about a trade deal. Today President Trump announced that the Phase One deal will be signed on January 15th at the White House followed by a trip to Beijing to begin Phase Two talks.

  • The Fed – The Fed cutting rates three times this year was a win for stocks. The rate cuts helped stabilize the economy. The Fed plans to leave rates unchanged in 2020, but will keep a close eye on inflation.

Here’s where the major indices ended the day:

  • The S&P finished with a 0.3% gain. Up 9 points, the S&P ended at 3,231.
  • The DOW ended higher by 0.3%. Adding 76 points, the DOW closed at 28,538.
  • The NASDAQ was up 0.2%. With a 22 point gain, the NASDAQ finished at 8,970.

Crude Oil (CL) traded lower on the last day of the year. Down 0.8%, CL ended the day at $61.18. But it was an impressive 2019 for Crude. CL was up 30.5% in 2019.

Apple (AAPL) was the best performing stock in the DOW this year. After getting beaten up at the end of 2018, Apple shares rallied and finished the year with an 86.2% gain.

But on the other end of the spectrum, Walgreens Boots Alliance (WBA) was the worst performer in the DOW, down 11.0% for the year.

Advanced Micro Devices (AMD) was the best performer in the S&P, up 148.5% in 2019.

While ABIOMED Inc. (ABMD) was a big under performer for the S&P with a 47.5% loss for the year.

Tomorrow markets are closed for New Year’s Day.

Happy New New Year!

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.


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