The stock market indices rallied Tuesday and Wednesday to push all the indices into positive territory, but below average. The SandP500 came closest with an increase of 1.1% compared to the average of 1.4%. The other indices all were below 1% though you could round the NASDAQ Composite to 1%. So it took a remarkable two days of trading to push the indices into positive territory.
The numbers follow:
The SandP500 closed last Friday at: 2683.34. It closed today Wednesday, January 03, 2018, at 2713.06. For an increase of 1.1%
The DJIA ended last Friday at: 24754.06. It closed today Wednesday, January 03, 2018, at: 24922.68. for an increase of 0.68%
The NASDAQ Composite ended last Friday at: 6995.96. It closed today Wednesday, January 03, 2018, at. 7065.53. for an increase of 0.99%
The Russell 2000 (small capitalization companies) ended last Friday at: 1542.93. It closed today Wednesday, January 03, 2018, at 1552.58 for an increase of 0.63%.
I speculate that the decline in the indices during the first 5 trading days of the Santa Claus trading period were due to "buy on the rumor and sell on the news" of the tax cut.
As I type this, all the indices are in positive territory on Thursday.
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