Stocks opened the final week of the year on a positive note, with the S&P 500 inching closer to its record levels. The S&P 500 saw a 0.6% increase, while the Nasdaq Composite showed a 0.7% advancement. The Dow Jones industrial Average also experienced a gain of 200 points, approximately 0.5%.
Despite lower trading volume, market analysts believe these movements indicate a continuation of the recent positive trends that have propelled major indices in recent weeks. Keith Lerner, Co-Chief Investment Officer at Truist, noted that while money inflow has weakened, there remains a solid underlying support that is likely to persist as we approach the end of the year.
Furthermore, the S&P 500 was positioned within striking distance of its all-time high as the session began. Currently, it is less than 1% away from its record closing level of 4,796.56, achieved in January 2022.
Source (CNBC)
