December 29h 2019
In line with our latest outlook, U.S. stocks rallied for the holiday-shortened week, pushing the main indexes again to fresh records. The Dow Jones Industrial Average booked a weekly gain of 0.7 percent to close at a record of 28,645.26. The S&P 500 climbed 0.6 percent for week to a record high of 3,240.02. The Nasdaq increased 0.9 percent from last Friday to 9,006.62, hitting a new intraday high earlier in the session. The main U.S. indexes are close to their best annual performance since 2013 and may yet put in a return not seen since 1997 depending on trading on the final two days of the year next week. The Dow Jones Industrial Average is up 22.8 percent year-to-date basis, the S&P 500 is up 29.3 percent and the Nasdaq 35.7 percent. Most key S&P sectors ended in positive territory for the week, led by the discretionary sector. Utilities were the only decliners. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, ended near 13.4.