U.S. Stocks Advance After Holiday as Tech, Consumer Shares RallyBy
U.S. stocks climbed in slow post-holiday trading as technology companies advanced and consumer shares rallied following the release of economic data on consumer confidence.
The S&P 500 Index added 0.2 percent to 2,268.88, as volatility increased and the dollar strengthened. The benchmark gauge ended the session within 0.1 percent of its record closing level on Dec. 13, while the Dow Industrial Index flirted with the elusive 20,000 level, rising 11 points to 19,945.04.
- Trading volume in the S&P 500 and Dow was about half the 30-day average
- Elevated trading in Nvidia, Mattel, Viacom, Bed Bath and Beyond
- Energy shares rose 0.2% with oil up 1.7%
- Tech stocks rally 0.5%, with Nvidia, First Solar leading with gains of at least 4.2%
- VIX up 4.8% while still on track for a second monthly slump
- S&P 500 is poised for its first annual advance since 2014, rallying 11%
- Data out Tuesday:
- Strategists expect the S&P 500 to end 2017 at 2,356, according to the mean of 15 estimates compiled by Bloomberg, implying a 3.8% gain from Tuesday’s close
For related equity market news:
- Bears Wave White Flag on Retailers Amid Signs of Green Christmas
- Stock Market Range in 2016 Seen as Bullish Sign for Next Year
- Market ‘Very Aggressive’ in Pricing in Trump: Weeden’s Purves
— With assistance by Joseph Ciolli