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S&P 500 Rallies to Close the Year at Record High: Markets Wrap

  • Offshore yuan hits highest since June 2018; China stocks gain
  • European equities end lower while U.S. shares advance
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WATCH: It’s time for a pause in FAANG stocks, Coutts CIO Alan Higgins says.(Source: Bloomberg)
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U.S. stocks climbed to a record high on the year’s final trading day amid thin trading. The dollar eked out an advance.

The S&P 500 Index and Dow Jones Industrial Average turned positive in the afternoon and ended at all-time highs. Volume was about 15% below average on the S&P. Financial companies were among the best performers, while energy producers slumped. European stocks dipped. Markets in Japan, Germany and South Korea were shut for New Year’s Eve.