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

#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!

Paul Ebeling
Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.   

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