Weekly Financial Market Update - December 28, 2018
December 29, 2018
A volatile, holiday-shortened week temporarily stemmed the downdraft in stocks, but not without plenty of turbulence. After declining by a cumulative 11.7% in the first three weeks of December, the S&P 500 Index advanced 2.9% last week led by the consumer discretionary and technology sectors. The blue chip Dow Industrials Average advanced 2.8% for the week led by Home Depot Inc., Walmart Inc., and Visa Inc.
Monday brought investors one of the worst Christmas Eve performances from the three major U.S. stock averages in modern market history. However, this was followed by one of the best single day performances since 2009 for the S&P 500 Index and Dow Jones Industrial Average on December 26.
For more including an update on Federal Reserve interest rate hikes, consumer sentiment and recent housing market data, read our Weekly Financial Market Update.