Gold prices rise from 2-wk low with focus on Russia-Ukraine, Jackson Hole
* S&P, Nasdaq register biggest yearly pct gain since 2013
* Trump tweets Phase 1 deal to be signed on Jan. 15
* Indexes up: Dow 0.27%, S&P 0.29%, Nasdaq 0.3%
(Updates to close, new throughout)
By April Joyner
NEW YORK, Dec 31 (Reuters) - Wall Street's major indexes
edged higher on Tuesday on a renewed rally fueled by trade
optimism, capping off a decade of handsome returns in which the
benchmark S&P 500 rose nearly 190%.
Both the S&P 500 and the Nasdaq notched their biggest annual
percentage gains since 2013, while the Dow closed 2019 with its
biggest yearly percentage gain since 2017. In 2019, the current
bull run in U.S. stocks became the longest one on record as
trade optimism, dovish monetary policy and an improving economic
outlook fueled sharp gains.
On Tuesday, President Donald Trump said on Twitter that the
Phase 1 U.S.-China trade deal would be signed on Jan. 15 at the
White House, bolstering widespread expectations of a finalized
preliminary agreement in early 2020. That development was
offset, however, by news of violent protests outside the U.S.
embassy in Baghdad.
The session's modest gains marked a turnaround from Monday,
when the S&P 500 and the Nasdaq posted their biggest daily
percentage losses in nearly four weeks. U.S. stocks had become
overbought, and Monday's declines helped make room for future
gains, said Alec Young, managing director of global markets
research at FTSE Russell in New York.
"It helps to have two steps forward, one step back," he
said. "It helps sustain the rally."
Volume was somewhat lower than usual, with 5.99 billion
shares traded on U.S. exchanges, compared with the 6.84 billion
average for the full session over the last 20 trading days.
U.S. stock markets will be closed on Wednesday for New
Year's Day.
The Dow Jones Industrial Average .DJI rose 76.3 points, or
0.27%, to 28,538.44, the S&P 500 .SPX gained 9.49 points, or
0.29%, to 3,230.78 and the Nasdaq Composite .IXIC added 26.61
points, or 0.3%, to 8,972.60.
Wall Street's major indexes posted significant gains for the
month, quarter and year. In December, the Dow added 1.73%, the
S&P 500 2.87% and the Nasdaq 3.56%. In the fourth quarter of
2019, the Dow gained 6.02%, the S&P 500 8.55% and the Nasdaq
12.18%.
For the year, the Dow rose 22.33%, the S&P 500 28.9% and the
Nasdaq 35.24%.
The benchmark S&P 500 also posted its biggest December
percentage gain since 2010.
For the decade, the Dow advanced 173.67%, the S&P 500
189.72% and the Nasdaq 295.42%.
Advancing issues outnumbered declining ones on the NYSE by a
1.81-to-1 ratio; on Nasdaq, a 1.64-to-1 ratio favored advancers.
The S&P 500 posted four new 52-week highs and no new lows;
the Nasdaq Composite recorded 89 new highs and 26 new lows.
S&P 500 performance by decade png https://tmsnrt.rs/2SKGvyr
U.S. stocks post huge rebound in 2019 png https://tmsnrt.rs/2QdRJd8
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