A year-end rally led the three major indexes to close on Friday at record-highs. Despite slowing gains toward the end of the week, the NASDAQ topped the 9,000 mark for the first time ever. Industrial profits in China are making a solid rebound and investor confidence in the upcoming Phase 1 trade agreement between the United States and China has helped build stock market momentum. For the week, the Dow rose 0.67 percent to close at 28,645.26. The S&P gained 0.60 percent to finish at 3,240.02, and the NASDAQ climbed 0.91 percent to end the week at 9,006.62.
The three major indexes attained record closing highs on Friday. Several factors boosted investor confidence: unemployment at 50-year lows, President Trump’s positive remark regarding a conversation about the trade deal with China’s president and an upwardly revised report on consumer spending in the third quarter. For the week, the Dow rose 1.14 percent to close at 28,455.09. The S&P gained 1.68 percent to finish at 3,221.22, and the NASDAQ climbed 2.18 percent to end the week at 8,924.96.
Stocks closed slightly higher Friday after President Trump and Chinese officials announced a phase-one trade deal. The increase helped the S&P 500 and the NASDAQ notch all-time highs. The trade agreement reduces some U.S. tariffs in exchange for larger Chinese purchases of American farm products and some progress on the issue of China’s intellectual property theft. For the week, the Dow rose 0.49 percent to close at 28,135.38. The S&P gained 0.77 percent to finish at 3,168.80, and the NASDAQ climbed 0.91 percent to end at 8,734.88.
The three major indexes closed a choppy week on a positive note. Investors’ optimism was fueled by a glowing November jobs report. The Labor Department announced 266,000 non-farm payrolls were added. As a result, the unemployment rate fell to 3.5 percent – the lowest in 50 years. Because of earlier losses, two indexes still closed the week in the red. For the week, the Dow fell 0.06 percent to close at 28,015.06. The S&P gained 0.21 percent to finish at 3,145.91, and the NASDAQ dropped 0.10 percent to end the week at 8,656.53.
The major indices fell Friday after China’s foreign ministry warned of unspecified retaliation against the U.S. after President Trump signed legislation supporting Hong Kong protesters. Despite Friday’s losses, the major averages rose for the week and posted strong monthly gains. For the week, the Dow rose 0.75 percent to close at 28,051.41. The S&P gained 1.04 percent to finish at 3,140.98, and the NASDAQ climbed 1.71 percent to end the week at 8,665.47.