Stock Market Today: Stocks Whisper Their Way Into the Long Weekend

  • In Business
  • 2020-12-24 18:22:23Z
  • By Kiplinger

Thursday's shortened session was a calm, low-volume affair. While certainly unusual for 2020, it was typical for a Christmas Eve.

Also unsurprising was the latest development on the COVID stimulus front: House Republicans shot down a Democrat proposal that would raise the value of forthcoming stimulus checks from $600 per American to $2,000 - a response to President Donald Trump's abrupt dismissal of Congress' bargain bill.

  • SEE MORE The 21 Best Stocks to Buy for 2021

But most analysts aren't deterred: "The stock market believes a stimulus deal of some sort will happen, but the details of what's inside and when it happens have been a low priority for markets for quite some time," says David Bahnsen, chief investment officer of California-based The Bahnsen Group.

Traders on Thursday didn't seem panicked - the Dow Jones Industrial Average closed up 0.2% to 30,199 ahead of the three-day weekend.

Other action in the stock market today:

  • The S&P 500 advanced by 0.4% to 3,703.

  • The Nasdaq Composite climbed 0.3% to 12,804.

  • The small-cap Russell 2000 slipped from record highs, off 0.2% to 2,003.

stock chart for 122420
stock chart for 122420  
  • SEE MORE PODCAST: Where to Invest in 2021 with Anne Kates Smith

The Hottest Bull Market Since World War II, But ...

CFRA chief investment strategist Sam Stovall recently delivered some impressive market data … and a warning from history.

"This bull market celebrated its nine-month (274 calendar-day) anniversary on December 22, with the S&P 500 gaining 64.8% in price. This return was more than twice the average of 32.2% for all bull markets since WWII and ranks it #1 out of 13," he says. However, "following these typical jack rabbit starts, bull market advance rates typically slowed, posting smaller compound annual growth rates during the remainder of their bull-market runs."

We can't tell you whether history will repeat itself - but we can tell you that one of the best ways to get the most of any market condition is to put your money behind Wall Street's best fund managers.

We've recently analyzed the 100 most popular 401(k) funds to find the good, the bad and the ugly from numerous fund families, including Fidelity, T. Rowe Price and American Funds.

We also looked at Vanguard, which, while widely known for its dirt-cheap index products, also boasts several adeptly managed mutual funds. Take a look.

  • SEE MORE The 21 Best ETFs to Buy for a Prosperous 2021


More Related News

US calls Bahrain, UAE
US calls Bahrain, UAE 'major security partners'
  • US
  • 2021-01-16 05:29:43Z

The United States called Bahrain and the United Arab Emirates "major security partners" early Saturday, a previously unheard of designation for the two...

Alex Azar resigns as Health and Human Services Secretary, citing Capitol mob
Alex Azar resigns as Health and Human Services Secretary, citing Capitol mob

Azar said his resignation would become effective on Jan. 20th, which is the same date he would have been leaving office once President-elect Joe Biden is...

How to get another COVID
How to get another COVID 'stimulus check' from your car insurance company

Insurers gave out some refunds in the spring - and they might give more if you ask.

NY prosecutors interview Michael Cohen about Trump finances
NY prosecutors interview Michael Cohen about Trump finances
  • US
  • 2021-01-15 21:41:13Z

New York prosecutors conducted an hourslong interview Thursday of Michael Cohen, President Donald Trump's former personal attorney, asking a range of...

Mormon leaders condemn
Mormon leaders condemn 'lawless behavior' at US Capitol
  • US
  • 2021-01-15 21:40:43Z

The Church of Jesus Christ of Latter-day Saints condemned "lawless behavior" and the violence of rioters who broke into the U.S. Capitol in a statement...

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply


Top News: Business