December 21-24, 2020 Recap

Equities Rebound
U.S. stocks rose on Thursday in a second day of small gains in the Christmas holidayshortened trading week as Wall Street reviewed the latest prospects for a second major coronavirus relief package. On Wednesday, President Trump initially refused to sign a $2.3 trillion combination $900B stimulus and government funding bill, saying it contained wasteful spending provisions and too low $600 direct payments to Americans versus $2,000 payments. Meanwhile, global investors cheered approval of the Brexit trade deal reached by U.K. and European Union negotiators.

Weekly Performance
For the week, the S&P 500 slipped 0.15%, the Dow Industrials rose 0.07%, and the tech-heavy Nasdaq Composite gained 0.39%.

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.