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Weekly Financial Market Update - December 27, 2019

Christopher LaPorta

December 30, 2019

All three major U.S. equity indexes reached new record highs last week as the year-end rally continued. On Thursday, the tech-heavy Nasdaq index surpassed the 9,000 level for the first time. The S&P 500’s 0.6% gain this week puts the index on track in December to post its fifth monthly gain above 3.0% this year.

If the year-end rally continues, this year’s S&P 500 performance could top the index’s 29.6% price return in 2013 to become the best year since rising 31.0% in 1997. Equities received support last week from upbeat trade deal comments from the U.S. and China, robust holiday retail sales, and an improvement in some Chinese economic data. The positive risk sentiment among investors led to the U.S. 10-year Treasury yield declining to below 1.9%.

Learn more in our Weekly Financial Market Update