January 13 – 17 Recap
Stocks Surge to Consecutive Records
U.S. equity markets surged last week on investor optimism surrounding the completion and signing of the so-called “phase one trade deal” with China. Solid fourth quarter earnings reports from most of Wall Street’s largest banks also helped boost optimism. The S&P 500 posted four closing all-time highs last week, one more than the tech-heavy Nasdaq Composite Index. The Stoxx Europe 600 Index, Europe’s broadest measure of equity performance, also closed at a record high on Friday, up the most since mid-December.
For the week, the Dow Industrials rose 1.82%, the S&P 500 climbed nearly 2% (+1.99%), and the Nasdaq Composite surged 2.29%. On Wednesday, the Dow finished above 29,000 for the first time and all three U.S. equity indices had their strongest weekly gains since August 30, 2019.
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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