Stocks got the year off to a roaring start with more solid gains and record highs for major U.S. indexes, following up on a strong finish to 2019.
Stocks got the year off to a roaring start Thursday with more solid gains and record highs for major U.S. indexes, following up on a strong finish to 2019.
“The momentum we saw in December is carrying into January,” said Willie Delwiche, investment strategist at Baird. “It might take a little bit to really figure out whether the optimism expressed in U.S. stocks all of last year is warranted with respect to fundamentals, but for now, the benefit of the doubt is with the bulls.”The S&P 500 climbed 27.07 points, or 0.8%, to 3,257.85 on Thursday. The Dow advanced 330.36 points, or 1.2%, to 28,868.80. The Nasdaq composite gained 119.
Technology companies accounted for a big slice of the U.S. market’s upward move. Apple rose 2.3% to a new high. Advanced Micro Devices, last year’s best performer in the S&P 500 index, jumped 7.1%.
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