Wall St. ends best year since 1990s


gopher
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+1 / -1
#1
Wall St. ends best year since 1990s - Thank you Mr Obama





Wall St. ends best year since 1990s with moderate gains | Reuters




Stocks closed out their best year in more than 15 on Tuesday, with major indexes advancing throughout 2013 on the back of the Federal Reserve's massive stimulus and expectations for accelerating growth going forward.


Wall Street ended 2013 with its positive momentum intact, advancing in its final trading day of the year on the back of positive consumer confidence data.


The S&P 500 rose 29.6 percent over the year, its best annual performance since 1997, while the Dow climbed 26.5 percent in its best year since 1995. The Nasdaq jumped 38.3 percent, its best year since 2009.
Both the Dow and the S&P 500 finished the final trading day of 2013 at record closing highs.


In a sign of improving sentiment, the CBOE Volatility Index .VIX or VIX fell 23.9 percent over the year, the biggest annual drop for the so-called "fear index" since 2009.


All 10 S&P 500 sector indexes ended the year with gains as investors rode the Fed's extraordinary stimulus in a year that had only the slightest of hiccups. Wall Street even weathered a partial shutdown of the U.S. government, as well as the recent announcement that the Fed would trim its monthly bond purchases in response to an improving economic picture.
"This has been a terrific year, with all the concerns we had in January (2013) proving unfounded, and with current economic growth giving us a strong outlook for 2014," said John Carey, portfolio manager at Pioneer Investment Management in Boston.
Trading volume was once again light in U.S. markets, which will be closed Wednesday for the New Year's holiday. Still, investors found reasons to buy after a read on consumer confidence rose more than expected in December.




The S&P/Case-Shiller composite index of home prices in 20 metropolitan areas gained 0.2 percent in October from September, but posted the strongest annualized gain in October in more than seven years.
"There's been a generally positive trend to news, including the confidence report, which bodes well for conditions next year and gives us really no reason to sell," said Carey, who helps oversee $220 billion in assets.
About 63 percent of stocks traded on the New York Stock Exchange closed higher for the day, while 55 percent of the shares traded on the Nasdaq ended in positive territory.


The Dow Jones industrial average .DJI gained 72.37 points, or 0.44 percent, to end at 16,576.66. The Standard & Poor's 500 Index .SPX advanced 7.29 points, or 0.40 percent, to finish at 1,848.36. The Nasdaq Composite Index .IXIC rose 22.39 points, or 0.54 percent, to close at 4,176.59.
The Dow also touched an all-time intraday high of 16,588.25 on Tuesday, while the S&P 500 set a record intraday peak of 1,849.44.
In the fourth quarter, the Dow rose 9.6 percent, the S&P 500 gained 9.9 percent and the Nasdaq climbed 10.7 percent. In December alone, the Dow advanced 3 percent, the S&P 500 rose 2.4 percent and the Nasdaq shot up 2.9 percent. It was the fourth straight monthly rally for all three.
Gains in the year were led by consumer discretionary stocks, with the sector index .SPLRCD up 40.4 percent. The sectors with the slimmest gains of the year - telecom .SPLRCL, which rose 6.6 percent, and utilities .SPSMCU, up 16.5 percent - are both considered defensive groups.
Among specific names, Netflix Inc (NFLX.O) was the S&P 500's biggest gainer, soaring 295.6 percent. Newmont Mining (NEM.N) was the index's biggest loser, falling 50.6 percent in 2013. Only 38 stocks in the S&P 500 ended the year in the red.
Few investors expect 2014 to deliver the same scale of returns. According to the most recent Reuters equity poll, the S&P 500 is seen rising to 1,925 by the end of 2014, which represents an upside of 4.1 percent from current levels.
In the corporate arena, Hertz Global Holdings Inc (HTZ.N) surged 10.5 percent to close at $28.62 after the company said it had adopted a one-year shareholder rights plan in response to "unusual and substantial activity" it has observed in its shares.
Marvell Technology Group Ltd (MRVL.O) jumped 4.5 percent to end at $14.38 after private equity firm KKR & Co LLP (KKR.N) reported a 6.8 percent stake in the chipmaker, according to a regulatory filing.
Twitter Inc (TWTR.N) broke its steep two-day losing streak, gaining 5.2 percent to close at $63.65. The stock's price had tumbled 17 percent between Thursday and Monday.
About 4.31 billion shares traded on all U.S. platforms, according to BATS exchange data, well below the December average of 5.89 billion shares.




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All this in addition to the fact that corporate profits are at their highest since 1900. Not too bad for what is supposed to be a "socialist" president. Small wonder why the Democrats consider the November elections a success.
 
damngrumpy
No Party Affiliation
+3
#2  Top Rated Post
Things were going great at the end of 1928 as well and we know what
happened in twenty nine. No I don't think we are on the edge of a
depression but we are in world wide trouble. Stock market is a joke
built on a false economy and it will eventually catch up with us.
 
gopher
No Party Affiliation
+1 / -1
#3
We did not have a Securities and Exchange Commission or other governmental oversight in 1928. If that agency gets its job done, then it should alert society as to the proper precautionary steps to take to minimize any financial troubles.
 
Retired_Can_Soldier
+2
#4
So the economy has bounced back in the United States? I wasn't aware. A bunch of rich fish got richer and people in Detroit are still waiting 45 minutes for a 911 response because their city is in the throes of bankruptcy. Funny how the rose colored glasses brighten the bleakest moments when you support the puppeteer.
 
gopher
No Party Affiliation
+1 / -2
#5
Quote: Originally Posted by Retired_Can_SoldierView Post

So the economy has bounced back in the United States? I wasn't aware. A bunch of rich fish got richer and people in Detroit are still waiting 45 minutes for a 911 response because their city is in the throes of bankruptcy. Funny how the rose colored glasses brighten the bleakest moments when you support the puppeteer.



Thanks for admitting that Reagan's corporate communism trickling down theory doesn't work.

Now let's get rid of it and all will be well. Agree?
 
Retired_Can_Soldier
+2
#6
Quote: Originally Posted by gopherView Post

Thanks for admitting that Reagan's corporate communism trickling down theory doesn't work.

Now let's get rid of it and all will be well. Agree?

As Obama continues to bankrupt the Country. Well done Obama. Keep sending in them drones!
 
gopher
No Party Affiliation
+2
#7
Quote: Originally Posted by Retired_Can_SoldierView Post

As Obama continues to bankrupt the Country. Well done Obama. Keep sending in them drones!


Deficits don't matter according to Republican D.ick Cheney, Reagan, and Bush I & II as it they are the basis for Nixonomics and Reaganomics. Remember?
 

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