|Day's Range||9,346.81 - 9,393.48|
|52 Week Range||6,953.23 - 9,393.48|
A former Trump administration official says markets would prefer Joe Biden over more left wing Democrats who are running for president but that analysts and investors are overreacting.
The U.S. stock market has enjoyed a nearly uninterrupted assault on records, highlighted by the Dow Jones Industrial Average (DJIA) closing at a milestone above 29,000 for the first time and the S&P 500 (SPX) achieving its own landmark close above the psychological round-number at 3,300, while investors in the Nasdaq Composite Index (COMP) may have their sights trained on 10,000. The ascent for stocks has made investors uneasy, primarily, because markets are already coming off a stellar 2019 and further gains, while possible, were expected to be more subdued than the current start for major indexes in the third week of 2020.
U.S. stocks rose Friday, adding to record prices set on Thursday. Investors were encouraged by strong housing market data in December, as well as China’s better-than-expected industrial production.
U.S. stocks closed higher again Friday, ending the week at new record highs, helped by more data suggesting the economy and corporate profits are in good health, following at least a partial resolution of the U.S. - China trade dispute and the passage of the U.S., Mexico, Canada trade deal by Congress.
The stock market extended gains in the final half-hour of trading Friday, capping another week of record highs for the major indexes. The Dow Jones Industrial Average had its best week since August.
U.S. stocks closed at all-time highs Friday, marking the third-straight record close for the Dow and S&P 500, as investors cheered bullish economic data and continued to ride a wave of trade optimism. The Dow Jones Industrial Average rose 50 points, or 0.2%, to about 29,348, the S&P 500 index gained roughly 13 points, or 0.4% to close at 3,330 and the Nasdaq Composite index advanced 32 points, or 0.2% to end the session at roughly 9,389. All three benchmarks set new intraday and closing highs. Market sentiment was boosted by stellar figures on U.S. home construction, with the Commerce Department reporting that home builders broke new ground on new homes at an annual rate of 1.61 million in Decmeber, 17% higher than the month before, and well above consensus expectations. Meanwhile data out of China showed December GDP growth at the fastest pace since last March. Though some analysts expressed concern about rising stock-market valuations, with the price-to-earnings ratio reaching 18.8, according to data from Refinitiv, others noted that low bond yields justify higher prices. In company news, Qualcomm Inc. shares gained 4.6% after Citi upgraded the stock to buy from neutral to lead S&P 500 stocks higher.
Make no mistake, this market move is not normal, and is not something which should be able to continue technically into and through February without a major hiccup, according to technical analyst Mark Newton
The Dow Jones Industrial Average rose 32 points, or 0.1%. The S&P 500 was up 0.2%, and the Nasdaq Composite rose less than 0.1%.
The major stock indexes were squarely higher Friday morning, as they set more record highs. Dow Jones stock Home Depot offers a new buy point.
U.S. stock rose at the start of trade Friday, with the major benchmarks reaching new highs in just the third week of the year, after data on new U.S. home construction showed it surging to 13-year highs in December. The Dow Jones Industrial Average gained 0.1% at 29,334, the S&P 500 index rose 0.2% at 3,322, while the Nasdaq Composite Index advanced 0.3% to reach 9,381 at Friday's start. Gains on the day have been bolstered by strong economic data. December housing starts showed home constructing rising 16.9%, to annual rate of 1.608 million units, to the fastest pace since 2006, well above the consensus forecast of 1.375 million, according to a MarketWatch poll of economists. Investors optimism wasn't dented by China reporting its worst annual growth in three decades of 6.1%.
Dow Jones futures: The stock market rally keeps testing limits. Google parent Alphabet hit a $1 trillion market cap, joining Apple and Microsoft.
Stocks are looking to cap a big week with more gains. Google parent Alphabet and Gap shares are higher in premarket trading. Twitter stock, on the other hand, is down after an analyst downgrade.
Markets appear to be impressed by the substance of the U.S.-China trade deal, unveiled by President Trump at a White House signing ceremony Wednesday.
Psychology data and valuation levels continue to suggest caution in this high-flying market. The S&P 500, DJIA (see below), Nasdaq Composite, Nasdaq 100, S&P MidCap 400 and Value Line Arithmetic Index made new closing highs while the Russell 2000 closed above near-term resistance. Meanwhile, the cumulative advance/decline lines for the All Exchange, NYSE and Nasdaq remain positive and above their 50-day moving averages.
Asian shares rose on Friday after data in China showed pressure on the world's second biggest economy may be starting to diminish. The news along with easing trade tensions with the United States underpinned riskier assets, even as some markets took a breather in late afternoon trade. European bourses were expected to extend the global rally after Wall Street posted more records.
U.S. stocks, buoyed by upbeat news, powered ahead again on Thursday, after the Dow Jones Industrial Average closed above 29,000 for the first time on Wednesday.
Today on IBD Live, the Team discusses stocks to buy and watch, our recent winning stocks and best ways to lock in profits without selling out completely.
The stock market continued its surge to new highs Thursday, with small caps leading the charge. Novocure staged a powerful breakout.
U.S. stocks close higher again Thursday, with all three benchmark indexes ending at new records, following the signing of a trade truce between the U.S. and China on Wednesday, Senate approval of a new trade deal between the U.S., Mexico and Canada on Thursday, and healthy economic data and corporate earnings reports .