Trade Deal Reached12/16/2020

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December 9 – 13 Recap

Equity Momentum Builds

U.S. stocks ended the week with back-to-back record highs amid investor relief about reaching a phase one trade deal with China. Investor sentiment was also bolstered as other uncertainties eased, including progress toward House passage of the U.S.- Mexico-Canada free trade agreement and British election results that should usher in Brexit approval.

Weekly Performance

For the week, the Dow Industrials rose 0.43%, S&P 500 gained 0.77%, and the tech-heavy Nasdaq Composite advanced 0.93%. Including dividends, the S&P 500 is up 28.88% year-to-date and the Dow Industrials has gained 10,000 points since the 2016 elections.

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The Weekly Recap is published by Cetera Investment Management LLC, an SEC registered adviser owned by Cetera Financial Group. Cetera Investment Management provides market perspectives, portfolio guidance, model management, and other investment advice to its affiliated broker-dealers, dually registered broker-dealers and registered investment advisers.

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