U.S. Stocks Rise on Thin Volume; Canadian Shares Little Changedby
U.S. equities rose in light trading before the Christmas holiday, with gains in health care shares outweighing declines in consumer-discretionary and energy companies. Canada’s stock benchmark was little changed.
The S&P 500 Index gained 0.1 percent to 2,263.79 at 4 p.m. in New York, while the Dow Jones Industrial Average inched closer to the elusive 20,000 level after dropping for two-consecutive days. The S&P/TSX Composite Index fell less than 0.1 percent in Toronto. Trading volume in all three indexes was more than 50 percent lower than the 30-day average.
- Gains in heath care companies exceeded 0.7%, offsetting losses of 0.2% in consumer discretionary and energy companies
- The S&P 500 rose 0.3% this week
- The Dow gained 0.5% in its seventh weekly gain, the longest winning streak since December 2014
- Strategists on average expect the S&P 500 to end 2017 at 2,356, according to the mean of 15 estimates compiled by Bloomberg, implying a 4% gain from Friday’s close
- The CBOE Volatility Index rose less than 0.1%, trimming its weekly slide to 6.2%. The gauge of investor anxiety, known as the VIX, touched a two-year low earlier this week