The S&P 500 Is Up 400 Points This Year

The S&P 500 is rising again today. The index is now up 400 points for the year. The Dow Jones needs to get another 1% before it will be up an amazing 10,000 points in this bull market.

Don’t expect to see a lot of action this week on Wall Street. People are focused on the holidays. This is the first day of the historic Santa Claus Rally. The Dow has historically gained an average of 3.23% between December 22 and January 6. That’s 41% of its average yearly gain coming in just 5% of the year.

The government reported that personal income rose 0.2% last month, while personal spending rose 0.5%. This probably hints that Q4 was another good quarter for the consumer side of GDP.

Our financial stocks are doing well today. Both JPMorgan Chase (JPM) and Wells Fargo (WFC) touched fresh 52-week highs. Fiserv (FISV) came within two pennies of matching its high. We also have new highs from Harris (HRS) and Cognizant Technology (CTSH).

Posted by on December 23rd, 2013 at 10:52 am


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