Shares were mixed on Thursday, the last trading day of the year. The Daw (UNDUE)
It was flat in the morning, having finished Wednesday a record high, while the broadest was Standard & Poor’s 500 (SPX)
It rose 0.1%. The Nasdaq composite (COMP)
“2020 is coming to an end,” wrote Paul Hickey, co-founder of Bespoke Investment Group, in a note to clients. “Unfortunately, 2021 will start to look a lot like 2020, but hopefully, by the end of the year, it looks like something better.”
While the economy is nowhere near its previous strength of the pandemic, stocks are in record territory. S&P and Nasdaq hit all-time highs on Monday. All three indicators will end the year in gains. As for the Nasdaq, it is shaping up to be the best year since 2009.
At the beginning of 2020, Investors worried that the market might be less windy
Where the Fed stopped cutting interest rates and the economic shock from
Trump’s tax cuts run out. Moreover, the US-China trade agreement still hangs in the balance. But they didn’t know that they were about to fall off a cliff.
After hitting record highs at the start of the year, the The market began to shiver
Fearing the coronavirus pandemic in February and The sell-off deepened in March
Lockdown measures have also taken place across the United States. The Dow has routinely set new records for the biggest one-day falls in history, and it was on the New York Stock Exchange The suspension of trading in the S&P 500
Many times because the index went down too quickly.
But in the months that followed, as the economic pain from the pandemic continued, The stock market has recovered
Faster than many expected.
“This year has been a year full of lots of reminders for investors: Number one, don’t overreact,” Liu Grohowski, chief investment officer at BNY Wealth Management, told CNN Business.
As a market It recovered from its sharp losses in March
Investors panicked and withdrew their money from the recovery lost.
The length and strength of the stock market rally was one of the most surprising parts of the year for investors. JJ Kinahan, chief strategist at TD Ameritrade, said that people will look back this year and wonder how such records could be reached in the market against a backdrop of unprecedented economic hardship.
Lesson learned: “Wall Street doesn’t just reflect Main Street,” Kinahan said. “But the other part of this is that there is no stock market on Main Street.”
In fact, companies that ended up gaining market share during the pandemic, like Amazon (AMZN)
And the Walmart (WMT)
It was really a huge business before Covid-19. Meanwhile, small businesses and small stores were and are in a completely different position.
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