- Title: Optimism on trade, online shopping pushes Wall St to records
- Date: 26th December 2019
- Summary: NEW YORK, NEW YORK, UNITED STATES (DECEMBER 26, 2019) (REUTERS) (SOUNDBITE) (English) CLEAR HARBOR ASSET MANAGEMENT, CEO, AARON KENNON, SAYING: "I think that if you look at the Nasdaq in particular, of course it's very tech-heavy, but as you alluded to, the overall equity markets, both in the U.S. as well as overseas, have risen in an extraordinary fashion over the year. The technicals of the market are quite strong, whether we're looking at market weighted or equal market weighted indices, they're both trending in tandem, which suggests strength. The advance decline lines are extraordinarily strong. I think what's different right now, relative to this time last year, is you have a monetary policy in the United States that is signaling to the market that it's going to remain extraordinarily accommodative and allow for inflation if it needs to, to trend above the 2 percent mark. This time last year, you had a Fed that was unwilling, it seemed a bit stubborn to accept the reality that perhaps they were ahead of themselves in terms of their policy accommodation."
- Embargoed: 9th January 2020 21:08
- Keywords: Aaron Kennon Clear Harbor Asset Management Dow Jones Industrial Average Nasdaq Composite President Donald Trump S&P 500 U.S. stocks U.S.-China trade equities stock market tariffs trading
- Location: NEW YORK, NEW YORK, UNITED STATES
- City: NEW YORK, NEW YORK, UNITED STATES
- Country: USA
- Topics: Economic Events,Equities Markets
- Reuters ID: LVA002BBM4N7X
- Aspect Ratio: 16:9
- Story Text:The Nasdaq crossed the 9,000-point mark for the first time on Thursday (December 26) and all three major Wall Street indexes posted record closing highs, boosted by optimism over U.S.-China trade relations and gains in shares of Amazon.com after a report signaled robust online holiday sales.
The Dow Jones Industrial Average rose 106.28 points, or 0.37%, to 28,621.73, the S&P 500 gained 16.58 points, or 0.51%, to 3,239.96 and the Nasdaq Composite added 69.51 points, or 0.78%, to 9,022.39.
(Production: Aleksandra Michalska)
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