Go Finance report - S & P 500 Index returned a record highs over the last two years due to the attitude of investors optimistic over economy in 2011. But, the Dow Jones even weaker.
The trading volume was also observed low, as predicted would happen at the end of the year. Investors are now just stick with stock from certain sectors and these sectors are leading the sharp rally in December. Among other financial sector, energy and materials.
S & P 500 Index rose to 5.7 percent for this month, while year on year rose 11.8 percent. "We have seen the rally occurred at the end of the year, the index seems to refuse to weaken," said vice president of BB & T Wealth Management Bucky Hellwig in Birmingham, Alabama, as quoted by Reuters.
The combination of economic data, an additional stimulus from the Federal Reserve and the tax holiday is to keep the theta growing market. The financial sector that were previously dropped, now rose 0.4 percent as some investors optimistic that this sector could become one of the sectors that led the next year after December strong.
However, American Express fell 3.4 percent to USD42, 50 after Stifel Nicolaus lowered its recommendation to "hold" from "buy". Boeing Co. who suffered cuts continue to benefit also dropped 2.7 percent to USD63, 27 after the Seattle Times said the delay in delivery could be announced for the 787 Dreamliner aircraft airplane maker.
In late trading on Monday (12/20/2010), the Dow Jones industrial fell 13.78 points, or 0.12 percent to 11478.13. The broader Standard & Poor's 500 index rose 3.17 points, or 0.25 percent, to 1247.08. Likewise with the Nasdaq Composite Index rose 6.59 points, or 0.25 percent, to 2649.56. (GoFinance)
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