Alan Rexhafen, senior portfolio manager at UBS Wealth Management USA, advises investors to look for ‘positivity, potash, powder, pathogens and preparation’ in next year’s markets.
Before the final opening bell of the year on Wall Street, the U.S.
All three futures indexes are trading with very little movement. The Dow and S&P 500 are down 0.1%.
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It will be a full trading day on the last day of 2020.
Traders will receive one last economic report for the end of the year in the form of last week’s initial job claims. Look for an increase from 30,000 to 833,000. Continuing claims, which are estimated to benefit the total number of unemployed workers, are expected to rise slightly to 5.39 million. That’s up from the previous week’s reading of 5.338 million, the lowest since March 21.
In Europe, London’s FTSE fell 1.4% and France’s CAC fell 0.4%. German markets were closed.
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In Asia, Hong Kong’s Hang Seng rose 0.3%. China’s Shanghai Composite rose 1.7%. Trade was closed in Tokyo.
Wednesday marked the end of the year’s trading on the Tokyo Exchange, the Nikkei fell 0.5% lower, and trading will not resume until Monday next week. Global markets will be closed on New Year’s Day.
| Ticker | Security | The last | Change | Change% |
|---|---|---|---|---|
| Me: DJI | Dow Jones average | 30409.56 | +73.89 | + 0.24% |
| SP500 | S&P 500 | 3732.04 | +5.00 | + 0.13% |
| I: Comp | Nasdaq Composite Index | 12870.001613 | +19.78 | + 0.15% |
On Wall Street, the stock made modest gains on Wednesday, keeping record key stocks on or near the main stock index on Wall Street.
Energy and material companies led to these benefits. Industrial, industrial and financial stocks also performed strongly. Small-company stocks again outperformed their major rivals, a sign that investors are feeling more optimistic about the economy.
The S&P 500 index rose 5 points, or 0.1%, to 3,732.04. The Dow rose 73.89 points, or 0.2%, to 30,409.56. The Nasdaq Composite traded up 19.78 points, or 0.2%, at 12,870.
Before the last day of trading in 2020, the S&P 500 is up 15.5% this year, while the Nasdaq is up 43.4%.
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In energy trading, the benchmark U.S. Crude traded down 18 cents at $ 48.22.
The Associated Press contributes to this report.
