4 p.m. ET: S&P and Dow close at record highs, Nasdaq snaps 11-day winning streak
Here’s how the markets settled at the end of regular trading Friday:
- S&P 500 (^GSPC): 3,240.02, up 0.11 points or 0.00%
- Dow (^DJI): 28,645.26, up 23.87 points or 0.08%
- Nasdaq (^IXIC): 9,006.62, down 15.77 points or 0.17%
- Crude oil (CL=F): $61.69 per barrel, up $0.01 or 0.02%
- Gold (GC=F): $1,515.20 per ounce, up $0.80 or 0.05%
1:57 p.m. ET: Markets doing little amid no news
Here’s another check of the markets, as of 1:57 p.m. ET:
- S&P 500 (^GSPC): 3,240.19, up 0.31 points or 0.01%
- Dow (^DJI): 28,663.07, up 41.68 points or 0.15%
- Nasdaq (^IXIC): 9,010.99, down 11.64 points or 0.13%
- Crude oil (CL=F): $61.60 per barrel, down $0.08 or 0.13%
- Gold (GC=F): $1,517.80 per ounce, up $3.40 or 0.22%
“Once again, and unsurprisingly, there is a considerable lack of news flow today,” Eric Criscuolo wrote in the NYSE MAC Desk’s mid-day update email that hit at 1:10 p.m. “Equities have traded in a 6 point range since 10:15, drifting like ancient sailors using the stars of Orion to navigate their journey.”
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11:30 a.m. ET: Tough choices as the year comes to a close
Stocks are still holding onto gains, after the major indices hit record highs at the open. After a year where almost every asset class rallied strongly, investors have some decisions to make as they consider their tax liabilities.
“I think the most difficult task facing PM’s right now, is taking profits/cutting losses on stocks and bonds that have done extremely well in this liquidity vacuum driven, short squeeze surge while keeping or adding to those stocks and bonds that were too cheap and still have upside (at the extremes, that distinction is easy to make, but at the margins is very difficult though getting that right, will drive alpha in coming into Q1),” Academy Securities’ Peter Tchir said.
Here’s another check of the markets, as of 11:30 a.m. ET:
- S&P 500 (^GSPC): 3,244.94, up 5.10 points or 0.16%
- Dow (^DJI): 28,692.74, up 71.35 points or 0.25%
- Nasdaq (^IXIC): 9,032.17, up 9.78 or 0.11%
- Crude oil (CL=F): $61.76 per barrel, up $0.08 or 0.13%
- Gold (GC=F): $1,517.60 per ounce, up $3.20 or 0.21%
9:30 a.m. ET: Stocks hit record highs
All three indices hit fresh record highs Friday as the Santa Claus rally continued.
Here were the main market moves, as of market open:
- S&P 500 (^GSPC): 3,246.92, up 16.53 points or 0.22%
- Dow (^DJI): 28,673.35, up 51.96 points or 0.18%
- Nasdaq (^IXIC): 9,049.99, up 26.80 or 0.29%
- Crude oil (CL=F): $61.77 per barrel, up $0.09 or 0.15%
- Gold (GC=F): $1,515.90 per ounce, up $1.50 or 0.10%
8 a.m. ET: Futures point higher
U.S. stock futures indicted a higher open across the major indices Friday, as stocks continue their strong run headed into year-end. The S&P 500, Dow and Nasdaq closed at record highs Thursday.
Here were the main pre-market moves, as of 8 a.m. ET:
- S&P futures (ES=F): 3,252.25, up 7.75 points or 0.24%
- Dow futures (YM=F): 28,708, up 89.00 points or 0.31%
- Nasdaq futures (NQ=F): 8,836.50, up 32.25 points or 0.37%
- Crude oil (CL=F): $61.78 per barrel, up $0.10 or 0.16%
- Gold (GC=F): $1,515.50 per ounce, up $1.10 or 0.07%
The Nasdaq crossed the 9,000 level for the first time Thursday, as tech continued to rally this year. The S&P Tech sector is the best-performing sector in the index this year and surged a whopping 48% so far. It is on pace to have its best year since 2009. The Communications Services and Financials sectors are the second and third-best performing sectors this year, respectively.
Meanwhile, China’s industrial profits rebounded in November and rose 5.4% year-over-year, after dipping 9.9% in October. This boosted sentiment as the world’s second largest economy showed signs of resilience headed into 2020.
In addition, gold advanced Friday morning and is on pace to close out its best week since August. The precious metal has had a strong year as investors flocked toward safe-haven assets following uncertainty surrounding the trade war.
