US stocks close at record highs to end tumultuous 2020
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- US stocks went out with a bang on Thursday during the last trading day of 2020.
- The Dow Jones and S&P 500 both closed at record highs, while the tech-heavy Nasdaq had its best year since 2009, gaining 43% in 2020.
- Watch major indexes update live here.
US stocks closed higher on Thursday to finish off 2020. The Dow Jones and S&P 500 both closed at record highs, while the Nasdaq had its best year since 2009, gaining 43%. The S&P 500 gained 16% in 2020, while the Dow Jones gained 7%.
Here’s where US indexes stood after the 4:00 p.m. ET close on Thursday:
- S&P 500: 3,756.07, up 0.64%
- Dow Jones industrial average: 30,606.48, up 0.65% (196.92 points)
- Nasdaq composite: 12,888.28, up 0.14%
Read more:JPMorgan unveils its 50 ‘most compelling’ stock picks to buy for 2021 – and details why each one will be a top performer
Bitcoin surged nearly 300% in 2020, and investors who want to gain exposure to the coin through an ETF may be able to next year. A bitcoin exchange-traded fund could go live in 2021 if an application from VanEck filed this week with the Securities and Exchange Commission proves successful.
Stocks may be vulnerable to a pullback in the first quarter of 2021, according to CFRA’s Sam Stovall.
“Domestic equity markets appear to us to have over-discounted a second-half 2021 economic and EPS recovery…and as a result may be vulnerable to a Q1 pullback,” the chief investment strategist said in a note to clients on Wednesday.
Oil prices inched higher. West Texas Intermediate crude rose 0.06%, to $48.43 per barrel. Brent crude, oil’s international benchmark, was up 0.17%, to $51.72 per barrel.
Gold was up 0.54%, to $1,903.60 per ounce.
Read more:Market wizard Jeff Neumann started trading with $2,500 and grew it to $50 million. He shares 6 timeless rules that helped him reach millionaire status in his first year.
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