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Events That Shaped Last Week's Markets - December 16 to 20, 2019

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Dow Jones Futures - December 16 - 20, 2019

S&P 500 Futures - December 16 - 20, 2019

Nasdaq Composite Futures - December 16 - 20, 2019

Monday - December 16

The broader US stock market rose for a fourth straight day today as the so-called phase one trade deal between the US and China gave a reason for the markets to aim toward a banner end-of-year.

Despite some details such as agricultural purchases remaining obscure, as well as the US trade deficit, US trade official Robert Lighthizer assured markets that the phase one deal os totally done.

On the data front, the housing market index rose in December to a 20-year high. Business activity also rose, hitting a five-month high.

The Dow jumped 100.51 points, or 0.4% to close at 28,235.89. The S&P 500 advanced 0.7%, closing at 3,191.45. The Nasdaq Composite gained 0.9%, to end the day at 8,814.23.

Tuesday - December 17

New home construction increased in November, according to the Commerce Department. Housing starts rose by 3.2% i to a seasonally adjusted annual rate of 1.365 million. Economists forecasted a rise of 2.0% to an annual pace of 1.34 million.

Residential permits advanced 1.4% from the previous month to a rate of 1.482 million. Economists expected them to decline by 3.5% to 1.410 million. Industrial production in November increased 1.1% when a gain of .9% was estimated and capacity utilization was 77.3%, which compares to the expected 77.4%.

The Dow closed at 28,267.00, the S&P 500 ended at 3,222.00, and the Nasdaq finished at 8,71350, all three indexes up for the day.

Wednesday - December 18

Stock hit intraday highs but then reversed gains late in the day to end its six-day winning streak. There was very little in terms of major news or reports to affect the markets significantly. The Dow fell -0.1%, down 27.88 points to close at 28,239.28. The S&P 500 pulled back -0.04% to close at 3,191.14.

Thursday - December 19

Despite President Trumps impeachment proceedings and mixed economic data, markets managed to advance, hitting all-time highs. The S&P topped 3,200 for the first time.

Initial jobless claims fell 18,000 to 234,000 in the week ended December 14 . Economists expected 227,000 new jobless claims. The Philadelphia Feds manufacturing business outlook survey's index of business activity fell to 0.3 in December from a reading of 10.4 in November. Economists anticipated the index would be 8.

The Dow Jones Industrial Average shot up 137.68 points, or 0.5% to 28,376.96. The S&P 500 gained 0.5% to end the day at 3,205.37, marking its first close above 3,200. The Nasdaq Composite finished at 8,887.22, gaining 0.7%.

Friday - December 20 (mid-day)

Its mid-day and four hours left until the index markets close. The broader market is rallying even higher today to record-highs. Currently, the Dow has gained 115 points, or 0.4%. The S&P 500 advanced 0.6%. The Nasdaq Composite is up 0.4%. Should the market continue is advance intraday, it will end the day topping off an impressive four-week winning streak.

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About the author

Karl Montevirgen is an independent content writer. Having been involved in the commodities and FX markets for the last 9 years, Karl writes for several companies and publications in the finance space. 

You can view his extended profile, list of publications, and theoretical content work on his LinkedIn page. 

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