News flow remains relatively quiet, but stocks are extending up price action

Posted on December 27, 2019

The Dow was up 65 points, while the S&P 500 and Nasdaq traded 0.15% and 0.3% higher, respectively. The major averages all hit new all-time highs. Trading volumes are expected to remain subdued.

The tech-heavy Nasdaq topped the 9,000 mark for the first time Thursday, lifted by a jump in Amazon shares on a record holiday shopping season. The Nasdaq has risen for 11 straight days, the longest winning streaking since July 2009. The S&P 500, up already 29.2% in 2019, is inches away from reaching historic proportions. The benchmark will post its best year since 1997 with an annual gain of more than 29.6%.