December 28 - 31, 2020 Recap
Equities Rebound from Prior Week Loss
U.S. stocks ended higher during the final week of the year, with the S&P 500 closing at its 33rd all-time high of 2020. The three major equity averages reached their record year-ending session highs with less than one hour left in 2020 trading. Investors welcomed a better-than-expected decline in jobless claims and took in stride the fading prospects for larger direct government payments ($600 vs. $2,000) that likely will be pushed into the next presidential term in one form or another.
For the week, the S&P 500 advanced 1.45%, the Dow Industrials gained 1.35%, and the tech-heavy Nasdaq Composite rose 0.66%. Among them, the Nasdaq Composite performed best in 2020, up a remarkable 44.9%, whereas the benchmark S&P 500 Index returned 18.4% for the year.
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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