The S&P 500 (Index: SPX) managed to close 2020 at a new record high of 3,756.07, the 33rd record set by the index during the year that was!
2021 begins with investors continuing to focus on the second quarter of the new year, as indicated by the alternative futures spaghetti chart, where we're updating to complete 2020-Q4 for the last time!
Next week, we'll roll the calendar forward show the dividend futures model's projections for 2021-Q1.
Not much unexpected happened during the final two trading weeks of 2020, where what little happened to affect the U.S. stock market is largely summarized by the following headlines.
- Monday, 21 December 2020
- Tuesday, 22 December 2020
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- Signs and portents for the U.S. economy:
- Oil drops as new coronavirus variant revives demand fears
- U.S. third-quarter GDP growth revised slightly up; momentum waning
- After months of inaction, U.S. Congress approves $892 billion COVID-19 relief package
- S&P 500 ends lower as new COVID storm clouds overshadow stimulus passage
- Wednesday, 23 December 2020
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- Signs and portents for the U.S. economy:
- Oil gains 2% after draws in U.S. product inventories
- U.S. faces risk of government shutdown as Trump balks at COVID-19 relief deal
- U.S. new home sales drop sharply in November
- U.S. Treasury-led report calls for overhaul of money market funds
- Wall Street gains on recovery bets
- Thursday, 24 December 2020
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- Daily signs and portents for the U.S. economy:
- Oil edges higher after Brexit deal, gains capped by pandemic
- U.S. lawmakers block Trump bid to modify coronavirus aid, spending bill
- Americans give to charity like never before amid pandemic
- At long last, a Brexit trade deal has been reached:
- 'Parting is such sweet sorrow': EU and UK clinch narrow Brexit accord
- Explainer-A Brexit trade deal at last - so what?
- Bluff and brinksmanship: How Britain got a Brexit trade deal done
- Wall Street closes with a modest gains on Brexit deal, stimulus hopes
- Monday, 28 December 2020
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- Daily signs and portents for the U.S. economy:
- Oil prices dip as demand concerns counter U.S. stimulus
- Trump signs pandemic aid and spending bill, averting government shutdown
- Bigger trouble developing in Japan and China:
- Japan Nov factory output growth stalls after rising for 5 months
- BOJ divided on stimulus tweaks as pandemic stokes deflation fears
- Chinese banks to feel fund-raising pain as investors fear bad loans
- Wall Street climbs to record as fiscal aid bill signed
- Tuesday, 29 December 2020
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- Daily signs and portents for the U.S. economy:
- Oil rises on hopes U.S. pandemic stimulus will spur fuel demand
- Mnuchin says U.S. stimulus payments to begin arriving as early as Tuesday evening
- Fed extends Main Street loan program as last-minute applications surge
- Bigger stimulus in U.S. under negotiation:
- Defying Trump, McConnell delays vote on $2,000 checks, urges Senate to override defense veto
- Democratic Senator Schumer blasts checks legislation he says McConnell has introduced
- Positive signs for China's economy:
- Wall Street ends lower but crude advances as Senate weighs expanded stimulus
- Wednesday, 30 December 2020
- Thursday, 31 December 2020
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- Daily signs and portents for the U.S. economy:
- Oil edges higher, but posts 20% annual drop in tumultuous 2020
- COVID-19 shook, rattled and rolled the global economy in 2020
- Wall Street closes out wild pandemic year with Dow, S&P at records
Elsewhere, Barry Ritholtz only summarized the positives and negatives he found in the trading week ending on Christmas Eve, but he did recap the most popular posts at The Big Picture for all of 2020!
For those who track U.S. stock market history, the end of 2020 marks another significant milestone, which we'll commemorate on Friday, 5 January 2021!...