Dec. 31 (UPI) — The Dow Jones Industrial Common and S&P 500 rose to report highs on the finish of buying and selling on Thursday to shut 2020.
The Dow rose 196.92 factors, or 0.65%, to shut at a report 30,606.48 whereas the S&P 500 rose 0.64% to three,756.07 factors. The Nasdaq Composite gained 0.14%.
Intel inventory rose 2.19% to guide the Dow increased, whereas the S&P 500’s financials and utilities sectors every rose greater than 1% to propel the index to a year-end acquire.
Whereas the COVID-19 pandemic rocked the inventory market early within the yr, all three benchmarks closed with positive factors for a second consecutive yr.
“2020 is coming to an finish. Sadly, 2021 goes to begin out trying loads like 2020, however hopefully, by the top of the yr, it is trying extra like one thing higher,” Bespoke Funding Group co-founder Paul Hickey wrote in a observe to purchasers.
Equities fell in February and March on the onset of the pandemic, nonetheless, the Federal Reserve stepped in to shore up credit score markets, resulting in a powerful rebound by means of the top of the yr.
Regardless of modest positive factors on Thursday, the Nasdaq was the very best performing index in 2020, gaining 43.6% for the yr, it is best one-year efficiency since 2009, as tech shares soared amid the pandemic.
The S&P 500 has gained 16.3% in a risky 2020 that noticed it shut up or down a minimum of 1% on 110 of the 253 buying and selling days, in comparison with 38 days in 2019, together with two rallies of greater than 9% and a drop of 12% in March.
Rounding out the three benchmarks was the Dow, which rose 7.3% in 2020.