Business & Investment

Dow hits record highs to end Wild 2020

The Dow Jones Industrial Average and the S & P 500 rose to record highs on Thursday as Wall Street closed one of the most volatile years on the market in recent memory.

The 30-share index rose 196.62 points to the end of the year at 30,606.48. Intel rose 2.2%, surpassing the Dow.

The S & P 500 rose 24.03 points to 3,756.07. Financial and utilities have each progressed by more than 1% to raise the S & P 500.

NASDAQ added 18.28 points to 12,888.28.

Stocks plummeted in February and March as the COVID pandemic spread outside China. The S & P 500 suffered the fastest 30% drawdown on record.

But after bottoming out in late March, and in the unprecedented action of the Federal Reserve to support the credit market, stocks rebounded dramatically, breaking a series of highs by the end of the year.

Technology-intensive NASDAQ climbed 43.6% this year, the highest year of performance since 2009. The S & P 500 closed 2020 with a 16.3% rise. The Dow rose 7.3% in 2020.

Investors digested more than expected readings of US weekly unemployment claims on Thursday. The US Department of Labor has declared a total of 787,000 people who have filed unemployment benefits for the first time in the week leading up to December 26.

Senate majority leader Mitch McConnell has blocked efforts to increase direct stimulus payments from $ 600 to $ 2,000, but the latest rise in the market with vaccine deployments and new economic relief packages from Congress. Has accelerated.

The price of 10-year government bonds was high, dropping from 0.94% on Wednesday to 0.92%. Treasury prices and yields move in the opposite direction.

Crude oil prices were flat at US $ 48.40 a barrel.

Gold prices rose $ 8.20 to $ 1,901.60.

Dow hits record highs to end Wild 2020

http://www.baystreet.ca/articles/market_updates_us.aspx?articleid=63056 Dow hits record highs to end Wild 2020

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