Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

S&P 500, Dow eke out records; Nasdaq win streak ends

Stock MarketsDec 27, 2019 04:59PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

By Lewis Krauskopf

(Reuters) - The Nasdaq snapped an 11-day streak of gains on Friday after some late-session weakness, but the S&P 500 and the Dow scratched out record closing highs with slight gains as a year-end rally chugged along.

With only two trading days left for the year, the benchmark S&P 500 has climbed more than 29% so far in 2019, its biggest annual percentage gain since 2013. Trading volume has been thin during the holiday-shortened week and could continue to be sparse through the New Year's holiday on Wednesday.

“For the most part, the market seems to be in a holding pattern until year-end,” said Rick Meckler, partner at Cherry Lane Investments in New Vernon, New Jersey.

“There has been such strong gains for the year that I think that until the fresh money comes in after year-end for new contributions to IRAs and other retirement accounts to start the year, I just don’t think there is a lot of push to drive this too much higher,” Meckler said.

Data on Friday showed profits at China's industrial firms grew at the fastest pace in eight months in November, but broad weakness in the country's domestic demand remains a risk for company earnings next year.

Investor expectations that the United States and China will soon sign a Phase 1 trade deal has added momentum to the stock market heading into 2020.

"You’ve got expectations that the Phase 1 trade agreement is signed in early to mid-January," said James Ragan, director of wealth management research at D.A. Davidson.

"In a situation where you have got the trade expectation that could help stimulate business spending next year, still low interest rates and the strong consumer. That’s a recipe for equity values to continue to move higher," Ragan said.

The Dow Jones Industrial Average (DJI) rose 23.87 points, or 0.08%, to 28,645.26, the S&P 500 (SPX) gained 0.11 points to 3,240.02 and the Nasdaq Composite (IXIC) dropped 15.77 points, or 0.17%, to 9,006.62.

Among S&P 500 sectors, consumer staples (SPLRCS), real estate and utilities (SPLRCU) were the top performers. Energy (SPNY) and materials (SPLRCM) lagged among the sectors.

Aside from optimism over trade relations, the stock market has been lifted by interest rate cuts by the Federal Reserve and better-than-feared economic data and corporate profits.

About 5.2 billion shares changed hands in U.S. exchanges, compared with the 6.8 billion daily average over the last 20 sessions.

Declining issues outnumbered advancing ones on the NYSE by a 1.02-to-1 ratio; on Nasdaq, a 1.52-to-1 ratio favored decliners.

The S&P 500 posted 59 new 52-week highs and no new lows; the Nasdaq Composite recorded 96 new highs and 23 new lows.

S&P 500, Dow eke out records; Nasdaq win streak ends
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (9)
Andrew Hook
Andrew Hook Dec 28, 2019 2:01AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Universal theorem : thing going up will go down. Simple be patient. We are still waiting for the Big One, it will happened. When ?
Cristian Chibato
Cristian Chibato Dec 27, 2019 6:09PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
I still don't understand how people consider these accomplishments. This is literally Irrational Exuberance.
Cristian Chibato
Cristian Chibato Dec 27, 2019 6:09PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
doesn't even matter, everyone's 401k getting shredded in 2020 indescriminately. it's been a fun circus, thanks for playing y'all
Chris Martin
Chris Martin Dec 27, 2019 6:09PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Wow Cris, sounds like you've got a large bet going. I hope you don't get crushed in either direction. Sounds like you hit the sell button to me tho -
Hayrettin Cetinturk
Hayrettin Cetinturk Dec 27, 2019 6:09PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
dolar inflation. devaluation. this can make the stocks rise. definately can
Hayrettin Cetinturk
Hayrettin Cetinturk Dec 27, 2019 6:09PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
also real.estate prices. and silver gold ofcourse.
Thom Miller
Thom Miller Dec 27, 2019 1:33PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
On CNBC this morning there was a discussion about how central banks around the world have contributed to the 10.5-year continuation of the the stock market rally during 2019. Collectively, those central banks made 90 interest rate moves over the past 12 months! Just think.....there are many Wall Streeters out there now in their 20s and early 30s who haven’t a clue as to how to conduct business in a high-interest rate enviroment. Scary!
Show previous replies (6)
Chris Martin
Chris Martin Dec 27, 2019 1:33PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
You're ill-equipped to make such a statement being a self-centered leftist with NO facts other the opinionated people. Thumbs down ancient one-
Chris Martin
Chris Martin Dec 27, 2019 1:33PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Thom Miller I honestly thought he was going for you. You're not old enough to drink Rhom..
Chris Martin
Chris Martin Dec 27, 2019 1:33PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
By the way paul, you'll understand better when Durham indicts some of your "handful" -
Chris Martin
Chris Martin Dec 27, 2019 1:33PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
I don't think you understand other than thye Queens English.Your idol J. (munchkin) N.,A. (bugeyes) S., and pdf course the skeletal remains shall soon be shown the door. Oh, have you seen the president has appointed near 200 federal judge's mate?Be sure to thank the previous one you bowed to. [:^)
Chris Martin
Chris Martin Dec 27, 2019 1:33PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Guy, good fortune to you. Sounds like you've read a book or two. You will stay sharp, I'm sure !
Dave Jones
Dave Jones Dec 27, 2019 10:55AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
insane
Peter Dikeakos
Peter Dikeakos Dec 27, 2019 10:39AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
What About Now, Dow? LAUNDERING MONEY is the difference !
Me comment
Me comment Dec 27, 2019 10:29AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Record opening don't count record closes rule.
Thom Miller
Thom Miller Dec 27, 2019 10:27AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
The Wall Street wizzards have just officially announced this is NOT a Santa Clause rally we’re witnessing. Rather, it’s a continuation of the 10.5-year Barrack Obama rally!!
Chris Martin
Chris Martin Dec 27, 2019 10:27AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
You simply can't help some of the elderly, their mind starts to go -
Alex Cavasin
Alex Cavasin Dec 27, 2019 10:27AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
LMAOROTF ...merry xmass
Thom Miller
Thom Miller Dec 27, 2019 10:27AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Chris Martin Yes, especially those in their late 70s who get impeached....
Ron Warren
Ron Warren Dec 27, 2019 9:11AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Can't speak the truth about this run-up. Keep getting censored. Lol
Me comment
Me comment Dec 27, 2019 9:11AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Too funny sometime can't even repeat what the article says and you get censored. B @@ U## LL S$@#H##IT.
Ron Warren
Ron Warren Dec 27, 2019 9:07AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Dude! Just sold this fool a Pinto for $28,600.00 It booked out for $1,450.00 !!! What a sap!!!
Show previous replies (7)
Hayrettin Cetinturk
Hayrettin Cetinturk Dec 27, 2019 9:07AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
i am short now. i stay even if it takes 1 year . i am sure gold and silver will double and sp500 going to half.
Hayrettin Cetinturk
Hayrettin Cetinturk Dec 27, 2019 9:07AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
also buy or sell both are gambling. better short because there is bigger chance to win
Hayrettin Cetinturk
Hayrettin Cetinturk Dec 27, 2019 9:07AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
everyhing is about diversify and patience
Chris Martin
Chris Martin Dec 27, 2019 9:07AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Hay, I honestly hope you to be correct! Either way I will win.
Chris Martin
Chris Martin Dec 27, 2019 9:07AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Hay, I agree entirely !I'd only sell if I caught a glimpse of the crystal ball. You MAY do okay shorting right now. Good fortune.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email