US Stock Market Overview – Nasdaq Eclipses 9KThe S&P 500 Hits fresh record highs
US stocks closed higher on Thursday continuing the upward trend the market has experienced in the Q4. The Nasdaq closed above 9,000 for the first time ever, and the S&P 500 index hit fresh all-time highs. Most sectors in the S&P 500 index were higher, driven by Communications, while Healthcare bucked the trend. Amazon shares surged more than 4% on Thursday as the company said that 2019 holiday season was record-breaking for the company, saying billions of items were ordered on the site. Apple shares continued to hit fresh highs helping to drive technology shares. The VIX volatility index ticked lower on Thursday closing at 12.65%. Gold prices continue to trend higher as the dollar eased, and yields were mixed. The Russell 2000 surprisingly closed in the red.
Amazon Describes Record Sales
Amazon reported that 2019 holiday season was record-breaking for the company, saying billions of items were ordered on the site and millions of Amazon devices purchased world-wide. Amazon said that some of its best-selling products this holiday season were the Echo Dot, Fire TV Stick with Alexa Voice Remote. Amazon shares began the day 12% its July highs as some of the other tech stocks like Apple continued to close at fresh all-time highs.
Energy shares continued to make headway on Thursday as crude oil prices close above $61 per barrel on a WTI basis for the first time in 4-months. OPEC cuts of future production continue to drive crude oil prices which are helping to buoy energy shares. Energy shares have underperformed the broader markets in the S&P 500 index, but now appear to be playing catch up football.