November 30 – December 4, 2020 Recap
Equities Advance on Stimulus Hope
U.S. stocks advanced to record highs last week amid growing expectations for another round of fiscal stimulus that could help backstop economic growth. Friday’s payrolls data for November showing a slowdown in job growth added to a sense of urgency behind the negotiations, with leaders from both parties alluding to the jobs report as a call to action. In rare fashion, the S&P 500, Dow Industrials, Nasdaq Composite, and Russell 2000 finished the week at new all-time highs, their first such four-way alignment since January 2018.
For the week, the S&P 500 climbed 1.72%, the Dow Industrials rose 1.03%, and the tech-heavy Nasdaq Composite advanced 2.14%. The small cap-focused Russell 2000 gained 2.04%.
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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