December 14 - 18, 2020 Recap
U.S. stocks slightly trimmed a weekly gain on Friday, halting a solid three-day rally after Congress was unable to reach a stimulus bill agreement by market close. Negotiators later compromised on a new $900B stimulus deal on Sunday, providing much needed relief to businesses and consumers. Equity markets experienced heightened volume and volatility last week amid preparations for a major addition and rebalancing to the S&P 500 as well as the quarterly quadruple options and futures contracts expiration.
For the week, the S&P 500 gained 1.29%, the Dow Industrials rose 0.44%, and the tech-heavy Nasdaq Composite surged 3.07%. Notably, the small cap-focused Russell 2000 Index also surged over 3%.
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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