Home Headline News S&P 500 Marked a Record Closing High Finishing the Year with a 16.3% Gainer

S&P 500 Marked a Record Closing High Finishing the Year with a 16.3% Gainer

by Paul Ebeling

#SP500 #stocks #record #highs #jobs #jobless #claims

$DIA $SPY $QQQ $RUTX $VXX

There will be no stock reports Friday, 1 January as markets will be closed for the New Year Holiday. Happy New Year!” — Paul Ebeling

US claims for unemployment benefits fell to a 1-month low.

Initial jobless claims in regular state programs declined by 19,000 to 787,000 in the wk ended 26 December according to a Labor Department report Thursday. That was less than the 835,000 median estimate in a survey of economists, claims dropped by 31,736.

Continuing claims for state programs, which correlates to the total number of people receiving state unemployment benefits fell to 5.22-M in the wk ended 19 December Economists projected an increase to 5.37-M.

The decline in claims is a welcome sign, though the level remains elevated as economic fallout from The China Virus chaos continues.

While the aid/relief/stimulus package should cushion the blow of further shutdowns and closures.

Thursday, the benchmark US stock market indexes finished at: DJIA +196.92 at 30606.42, NAS Comp +18.28 at 12888.29, S&P 500 +24.03 at 3756.07

Volume: Trade on the NYSE came in at 80d7-M/shares exchanged

HeffX-LTN’s overall technical outlook for the major US stock market indexes is Very Bullish into January 2021.

  • NAS Comp +43.6% YTD
  • Russell 2000 +18.4% YTD
  • S&P 500 +16.3% YTD
  • DJIA +7.3% YTD

US based equity funds in the wk ended Wednesday, 30 December posted inflows of $354-M, according to the data.

Taxable bond funds attracted $9.527-B, the biggest inflow in 11 wks, while US money market funds drew cash in the amount of $15.32-B.

Looking Ahead: Investors will receive Construction Spending for November and the IHS Markit Manufacturing PMI for December Monday when the market reopens for the New Year. 

Have a healthy Happy New Year, Keep the Faith!

You may also like

logo-white

Your Trusted Source for Capital Markets & Related News

© 2024 LiveTradingNews.com – For The Traders, By The Traders – All Right Reserved.

The information contained on this website shall not be construed as (i) an offer to purchase or sell, or the solicitation of an offer to purchase or sell, any securities or services, (ii) investment, legal, business or tax advice or an offer to provide such advice, or (iii) a basis for making any investment decision. An offering may only be made upon a qualified investor’s receipt not via this website of formal materials from the Knightsbridge an offering memorandum and subscription documentation (“offering materials”). In the case of any inconsistency between the information on this website and any such offering materials, the offering materials shall control. Securities shall not be offered or sold in any jurisdiction in which such offer or sale would be unlawful unless the requirements of the applicable laws of such jurisdiction have been satisfied. Any decision to invest in securities must be based solely upon the information set forth in the applicable offering materials, which should be read carefully by qualified investors prior to investing. An investment with Knightsbridge is not suitable or desirable for all investors; investors may lose all or a portion of the capital invested. Investors may be required to bear the financial risks of an investment for an indefinite period of time. Qualified investors are urged to consult with their own legal, financial and tax advisors before making any investment. Knightsbridge is a private investment firm that offers investment services to Qualified Investors, Members and Institutions ONLY. Qualified Investors are defined as individuals who have met those Qualifications in the relevant jurisdictions. Members are defined as individuals who have been accepted into the Knightsbridge membership program. Institutions are defined as entities such as banks, pension funds, and hedge funds. If you are not a Qualified Investor, Member or Institution, you are not eligible to invest with Knightsbridge. All investments involve risk, and there is no guarantee of profit. You may lose some or all of your investment. Past performance is not indicative of future results. Knightsbridge is not a registered investment advisor, and this disclaimer should not be construed as investment advice. Please consult with a qualified financial advisor before making any investment decisions. By accessing this website, you agree to the terms of this disclaimer. Thank you for your interest in Knightsbridge.