“Fed Vice Chairman Clarida does not expect to begin tapering its asset purchases this year“– Paul Ebeling
Stocks marked all-time highs on Democrats promise of trillions more of aid/relief/stimulus to further revive the world’s largest economy.
The S&P 500 marked its 4th day running of gainers, led by retailers and Real Estate companies.
The NAS Comp 100 outperformed. The KBW Bank Index capped a rally that drove the gauge up more than 10% in 3 days. Miners joined a selloff in gold and silver, the Buck rose.
All major stock benchmarks marked records as investors focused on the prospect for more fiscal aid, including $2,000 stimulus checks after a soft December NFPs report. The 140,000 blip in payrolls highlighted how the continuing coronavirus chaos is taking a greater toll on some sectors of the economy.
Fed Vice Chairman Clarida does not expect to begin tapering its asset purchases this year.
Key Commodities: WTI Crude Oil rose 3.5% at 52.60bbl, Gold fell 3.5% to 1,847.89oz.
Friday, the benchmark US stock market indexes finished at: DJIA +56.84 at 31097.91, NAS Comp +134.50 at 13201.98, S&P 500 +20.89 at 3824.68
Volume: Trade on the NYSE came in at 1.0-B/shares exchanged
HeffX-LTN’s overall technical analysis of the major US stock market indexes is Very Bullish at the wk ended 8 January 2021
- Russell 2000 +5.9% YTD
- NAS Comp +2.4% YTD
- S&P 500 +1.8% YTD
- DJIA +1.6% YTD
Looking Ahead: Investors will not receive any notable economic data Monday
Have a healthy weekend, Keep the Faith!