GT Source markets wrap-up

Source:Global Times Published: 2019/12/24 19:33:40

Traders work at the New York Stock Exchange in New York, the United States, on Dec. 13, 2019. (Xinhua/Wang Ying)



With US stocks rallying well beyond expectations into the end of the year, this 2019 Christmas falling on Wednesday could be a joyous celebration for global investors operating in the US market.

The three major US stock indices are among the world's best performers this year. Prior to Tuesday's trading, the Dow had jumped 22,39 percent, or 5,224.07 points to 28,551.53 points, the NASDAQ had soared 34.82 percent, or 2,310.37 points to 8,945.65 points, and the S&P 500 had gone up 28.61 percent, or 717.16 points to 3,224.01 points. 

Although the three indices still pale in comparison with China's Shenzhen Component Index and ChiNext index, both of which had surged over 40 percent as of Tuesday's close, the stellar performance of US stocks has built on a bull run which has continued for over a decade testifies to the unparalleled strength of the US market.

Strong economic indicators and a robust outlook for the likes of Apple and Tesla have lifted US stocks to record highs as investors take holidays. 

Announcements on the Chinese side that are envisioned to paint a rosier picture for global trade and economic growth will add fuel to the US stock rally. The only concern now is that whether US stocks will continue their upward spiral or the current ecstasy might lead to a peak that won't reoccur in years to come.



Posted in: ECONOMY

blog comments powered by Disqus