The U.S. stock index remained quite resilient since Friday. Also, supported by positive economic data, it reached new records. However, trading volume was low, and some experts noticed that the rally remains dependent on a few large-capitalization technology names.
The S&P 500 posted another record close after its most extended series of wins since the week finishing December 27, 2019, when the market rose for five straight weeks, as indicated by Dow Jones Market Data.
The Dow Jones Industrial Average DJIA, +0.68% rose 190.60 points, or 0.7%, to close at 27,930.33, and the S&P 500 SPX, +0.34% included 11.65 points, or 0.3%, to close at 3,397.16, indenting its second record of the week.
The NASDAQ Composite Index COMP, +0.41% additionally shut at a new high of 11,311.80, up 46.85 points or 0.4%, in the wake of cutting out another intraday record high, at 11,323.71. This was the tech-substantial NASDAQ’s 36th record close in 2020.
The 10-year Treasury note yield TMUBMUSD10Y, 0.638% fell 1.2 basis points to 0.64%.
December gold futures GCZ20, 0.43% wavered as the day progressed, settling under 0.1% higher, at $1,947 an ounce on Comex on worries about interest, and denoting its second consecutive week by week decay. The U.S. unrefined benchmark CL00, 0.59%, declined by 1.2%.
In currencies, the greenback was up 0.5% against its opponents at 93.28, based on trading in the ICE U.S. Dollar Index DXY, – 0.20%.
Global equities were on the back foot. China’s CSI 300 000300, +0.78% rose 0.9% and Japan’s Nikkei NIK, +0.28% shut 0.2% higher.
The Stoxx Europe 600 SXXP, 1.42% were down 0.15%. The U.K’s. FTSE benchmark UKX, +1.08% shut 0.2% lower at 66.10.
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