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More Records Fall as Market Rallies into Year's End

T.OR

Stocks notched fresh records on Friday as year-end optimism continued to drive the rally.

The Dow Jones Industrials gained 68.98 points to 28,690.37

The S&P 500 gained 4.68 points to 3,244.59, on track for its fifth straight week of gains

The NASDAQ regained 6.36 points to 9,028.75, though gains were weighed by a 1.3% drop in Netflix shares.

Friday marks day three of the so-called Santa Claus rally period, which is historically beneficial for stocks. Since 1950, the S&P 500 has rallied an average of 1.3% during the final five trading days of the year and the first two sessions of the New Year, according to the Stock Trader's Almanac.

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 been rising 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%.

Prices for the 10-Year U.S. Treasury gained ground, lowering yields to 1.87% from Thursday's 1.9%. Treasury prices and yields move in opposite directions.

Oil prices lost five cents to $61.63 U.S. a barrel.

Gold prices acquired $3.10 at $1,517.50 U.S. an ounce.



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