The US stock market ended the year 2019 with a spike and various industries registered modest gains on the last day of 2019. All the major indexes namely the Dow Jones Industrial Average closed up 76.30 points at 28,538.44. On the other hand, the S&P 500 index got a jump of 9.49 points and the Nasdaq Composite Index had risen by 26.61 points to settle at 8,972.60.
The Dow had its best year with a jump of 22.3% since 2017, and the S&P 500 witnessed its best year since 2013 with a gain of 28.9%. Whereas, the Nasdaq spiked by 35.2% in 2019, which is its best performance in the last six years. The closure of stocks on a higher note was simply due to the positive environment in the international trade world as the US President Donald Trump made an announcement on Twitter to sign a “phase-one” U.S.-China deal at the White House on Jan. 15.
Since the announcement is made by President Trump regarding the agreement in October, the stock market has been witnessing sharp gains. This deal is impacting the markets on a positive note as a result of a sell-the-fact reaction in stocks. In October, a hike in home prices has been noticed in 20 metropolitan cities in the US which showed a hike of 3.3% in October as compared to a 3.2% gain in September.
The gains in various indexes are simply based on the expectations of the US/global economy in the year 2020. Asian stock market saw a decline and ended the stock on a lower note and the European market concluded the year 2019 on a mixed note.
