The US stock market continued to rally into 2020 Friday, with the Dow Jones Industrial Average breaching 29,000 points for the first time.
“The Dow Jones Industrial Average traded 48 points higher, or 0.2% to break above 29,000 for the first time ever. The S&P 500 climbed 0.2% while the Nasdaq Composite advanced 0.3%. Pfizer shares rose 1.7% to lead the Dow’s gains. Health care and tech were the best-performing sectors in the S&P 500, climbing 0.5% each,” reports CNBC.
“The December jobs report was a little softer than expected but not so much so as to stoke big worries about the US consumer and the health of the overall economy,” said Alec Young, director of global markets research at FTSE Russell. “Although both readings were slightly below expectations and the recent trend, neither is overly alarming by itself.”
Stocks jumped earlier this week after tensions between the United States and Iran eased, with President Trump saying leaders in Tehran appeared to “stand down” following a missile strike against US troops in Iraq.
Read the full report here.