Stock Market Nearly Flat as Year Approaches End – Dec. 27, 2016

Daily Stock Market News Dec. 27, 2016:  The week between Christmas and New Years is typically slow and today was no exception.  Stocks were nearly unchanged in light trading.  However, there are reasons to hope that the recent bull market continues for at least a while longer.  See today’s economic news and closing numbers.

stock-market-graphic- stock market

U.S. Stock Market Closing Prices Dec. 27, 2016:

Dow Jones Industrial Averages:  19,945.04  +11.23  (+0.06 percent)

S & P 500:  2,268.88  +5.09  (+0.22 percent)

NASDAQ:  5,487.44  +24.75  (+0.45 percent)

Crude Oil:  $53.88 a barrel

Current Stock Market Trending Topics:

Do you think the bull market has topped out?  This chart shows why this bull market has legs and could last quite a while longer:

As 2016 draws to an end, the Obama administration is also ending their eight years with 75 months of steady job growth, low inflation, increasing sales, rising incomes, strong consumer sentiment and overall positive economic news.  Investors are looking towards the Trump administration to see if the trend will continue, accelerate or reverse direction in 2017 and the following years.  While we do not yet have the final overall sales numbers for the Christmas season, Amazon had its best holiday season ever.

Encouraging news for the global economy: China is meeting its growth target of between 6.5 and 7 percent.

At the end of 2016, these are the largest companies, by market cap, in each state in the United States.  The list is very similar to the list at the end of 2015.  Apple is still the largest company.

The Economic Events Which Affected the Stock Market in December:

  • December 2 – Employment Situation Report for Nov., 2016 – The U.S. economy added 178,000 jobs in November and unemployment dropped from 4.9 percent to 4.6 percent.  This is the lowest rates since August 2007.  November was the 74th consecutive month American added jobs. Wages also rose 2.5 percent.
  • December 13 and 14 – Meeting of the Federal Reserve. They raised their benchmark interest rate by .25 percentage points.  This was the second time this year, and only the second time in the past ten years, that interest rates have risen.  The Federal Reserve indicated that consumers should expect interest rates to rise three more times in 2017.
  • December 26 – Stock Market closed because of the Christmas holiday

Resources: / / MSN Money / Market Watch / YahooFinance / Bloomberg / Reuters and other public news sources

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