It was a record setting day across the board yesterday, helped in large part to a fabulous holiday spending report. The Nasdaq crossed the 9,000 mark for the first time, and it did not look back. Not only that, this is longest winning streak in over a decade for the Nasdaq. Nasdaq is up 4.2% for the month and is up 36% year to date, thanks to names like Apple (AAPL), which is up 8.5% this month, and the semiconductors. The Philadelphia Semiconductor Index is up 8.6% so far in December.
The President not only noticed, but tweeted:
“Trump stock market us far outpacing US presidents.”
And he is correct. The S&P 500 is up from than 50% since he took office, trumping (pun intended) the average 23% return of presidents in their third year. The S&P only needs 10 points to have its best annual performance since 1997, and it is up 3.2% this month alone, and 29.2% year to date.
NYSE
- Advancers 1791
- Decliners 1121
- New Highs 17
- Volume 7
NASDAQ
- Advancers 1739
- Decliners 1432
- New Highs 215
- Volume 27
Consumer Discretionary was the big winner yesterday, with Communication Services and Technology basically in second. Money continued to flow into big names such as Apple (AAPL) +2% and Amazon (AMZN) +4.5%. Amazon had its best day since January.
S&P 500 Index | +0.50% | |
Communication Services (XLC) | +0.76% |
|
Consumer Discretionary (XLY) | +1.22% | |
Consumer Staples (XLP) | +0.10% | |
Energy (XLE) | -0.03% | |
Financials (XLF) | +0.55% | |
Health Care (XLV) |
| -0.07% |
Industrials (XLI) | +0.23% | |
Materials (XLB) | +0.44% | |
Real Estate (XLRE) | +0.60% | |
Technology (XLK) | +0.75% | |
Utilities (XLU) | +0.17% |
All the sectors in the S&P 500 are up this month, except for Real Estate, which is down fractionally (-0.1%). The standouts include Energy +6%, Information Technology +4.6%, and Healthcare +3.8%.
Looks like the streaming space is heating up, as Comcast (CMCSA) is allegedly in talks to buy Xumo, a video-streaming company.
There isn’t much economic news out today. The Federal Reserve Bank of Dallas will release its quarterly energy survey at 10:30 followed by EIA inventory number, as well as Natural gas report, which is a day late due to Christmas.