Gains in technology shares sent the Nasdaq Composite Index above 9,000 for the first time. Gold advanced and the dollar drifted lower in holiday-thinned trading.
Amazon.com was
among the top equity performers after the e-commerce giant reported a “record breaking” holiday season. Ten-year Treasury yields fluctuated around 1.9% while the dollar slipped versus major peers as U.S. jobless claims data came in close to expectations. The Japanese yen headed for its biggest drop in two weeks.
European markets remained shuttered. Shares ended higher in Tokyo, Shanghai and Seoul, while exchanges were closed in Hong Kong and Sydney.
Investors are pushing the $51 trillion MSCI ACWI Index of global stocks toward a more-than 8% advance in the final three months of the year, a quarterly performance only bettered a handful of times in the past decade.
As traders digest data showing strong consumer confidence, attention now turns to January, when they’ll look for the U.S. and China to consummate a phase-one trade agreement.
“The consumer continues to be shown as the supporting pillar,” said Tim Courtney, chief investment officer at Exencial Wealth Advisors. “They’re continuing to spend and they’re not cutting back.”
- Bloomberg
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