As the holiday season progresses, the markets continue to impress.
Markets went for a wild ride last week—especially on Friday. In fact, on December 1, the S&P 500 had its largest fluctuations since the day after the 2016 presidential election.[i] Nonetheless, two of the major domestic markets hit new record highs on Thursday and ended the week with sizable gains.
After posting gains every week since September, U.S. stocks declined by market’s close on Friday.
Another week, another round of positive market performance. The 3 major domestic indexes again ended the week with gains and new record highs.
Last Friday, all 3 major domestic indexes continued their streak of weekly gains and record highs. The S&P 500 added 0.15%, and the Dow was up 0.43%. Meanwhile, both indexes posted their 5th weekly gain in a row. In addition, the S&P 500 and Dow each hit intraday trading records on Friday.
This Monday, October 9, marks the 10-year anniversary of the S&P 500’s highest point before the Great Recession. While the ensuing decade has provided quite a rocky road for the markets at times, the recovery is undeniable. The S&P 500 is now double its peak 10 years ago.[i]
Before we begin our usual weekly commentary, we wanted to take a moment to honor the victims of Sunday’s terrible attack in Las Vegas. Though details are still scarce, it is the most devastating mass shooting in U.S. history. Our thoughts are with the victims, their families, and with the community that now must cope with the aftermath of the tragedy.
Last week, the markets closed for Labor Day, and in the subsequent four trading days, all three domestic indexes gave back some recent gains.
Last week gave a number of things for both investors and non-investors to think—and worry—about. From North Korea’s missiles to Hurricane Harvey’s devastation to an unemployment uptick, the headlines were busy. Yet, despite these circumstances, U.S.