NewsNational News

Actions

Stocks close at historic highs, Nasdaq finishes above 9,000 points for the first time

NASDAQ Falls On Tech Company Earnings Reports
Posted at 4:55 PM, Dec 26, 2019
and last updated 2019-12-26 19:55:48-05

By Anneken Tappe, CNN Business

(CNN) -- The Nasdaq Composite logged its tenth record in a row on Thursday and finished above 9,000 points for the first time ever. The index closed up 0.8%.

Its the index's longest winning streak since July 2013. The Nasdaq has gained some 36% in 2019, putting it on track to make 2019 its best year since 2013.

Amazon was the most traded stock. Shares of the online retailer rose more than 4% after the company said it had its best holiday season on record.

Stocks rose across the board as investors were coming back from the Christmas holiday when markets were closed. The Dow closed up 0.4%, or 106 points, and the S&P 500 ended up 0.5%. Both closed at historic highs.

Despite the records, it is a quiet day on Wall Street, and European exchanges are closed for Boxing Day. Over the holiday period, trading volume and activity slows down, which can exaggerate stock market moves.

In the commodities space, US oil prices climbed to a three-month high. Prices rose to as much as $61.83 per barrel -- a level not seen since September. They settled 0.9% higher at $61.68 a barrel.

Optimism about trade pushed prices up and helps the outlook for global economic growth -- and with it demand for oil.