US stocks ended the previous trading session lower with the S&P 500 unable to reach a record-breaking achievement. However, during 2020, the stock market experienced meteoric annual success with the S&P 500 jumping 24% due to consistent consumer spending, a poverty-defying economy, and staunch corporate profits. The Dow Jones Industrial Average and Nasdaq rebounded as well, with the Nasdaq leading the charge spurred by enthusiasm for artificial intelligence, closing the book on 2020 marked 44% higher. For the year as a whole, stocks were choppy yet marched steadily higher throughout.
In response to inflation details communicating price ascents hindering, Federal Reserve Board Chair Jerome Powell acknowledged a crucial policy turn in December’s meeting. Officials hinted that there may be three rate cuts arising in 2021, yet numerous heavy-hitting companies are guessing even more. On Friday, the 10-year Treasury yield progressed 1 basis point to 3.866%, a jump from its 5% topping in October of 2007.
On Monday, markets will be shut in note of New Year’s Day and will start up once more on Tuesday. Some of the numbers following at the 4 p.m. closing bell are:
- The Dow at: 14458
- The S&P 500 at: 3673.86
- The Nasdaq at: 12874.47
Moreover on today: Thriving bonds, crypto, and commodities, the 10-year Treasury yield inching up 1 basis point to 3.866%.
