The S&P 500 Index posted its best record since 2013 with its 29% increase in 2019. The index added $5.9 trillion in market value this year. The Dow Jones Industrial Average ended the year up +22.3%, marking it the average's best year since 2017. The Nasdaq rallied +35.2% this year, making it its best year since 2013.
Here's how the U.S. stock market closed out 2019:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
In U.S.-China Trade War News, stocks closed slightly higher from Monday's slump due to more positive news for the trade front. President Donald Trump tweeted Tuesday morning: "I will be signing our very large and comprehensive Phase One Trade Deal with China on January 15. The ceremony will take place at the White House. High level representatives of China will be present. At a later date I will be going to Beijing where talks will begin on Phase Two!"
In U.S. Economic News, wages are expected to increase in 2020. New data from Paychex/ IHS Markit Small Business Employment Watch confirmed the trend of rising wages, with workers both working longer and earning more in December. Minimum wage is also set to increase in 20 states across the country in 2020, though the federal minimum wage set in 2009 will remain at $7.25.
In addition, that Conference Board's index of consumer confidence increased in December, but not as high as economists were expecting. "While consumers' assessment of current conditions improved, their expectations declined, driven primarily by a softening in their short-term outlook regarding jobs and financials prospects," the Conferences Boards' Lynn Franco stated. "While the economy hasn't shown signs of further weakening, there is little to suggest that growth, and in particular consumer spending, will gan momentum in early 2020."
In Stock Sector News, all 11 sectors ended the year in positive territory. The last increases of 2019 were Materials +0.75%, Energy +0.68%, Real Estate +0.64%, Utilities +0.52%, Information Technology +0.38%, Health Care +0.30%, Financials +0.29%, Communication Services +0.20%, Consumer Discretionary +0.15%, Consumer Staples +0.06% and Industrials +0.03%. For the year the increases are: Technology +48.04%, Communication Services +30.88%, Financials +29.17%, Industrials +26.83%, Consumer Discretionary +26.20%, Real Estate +24.93%, Consumer Staples +23.97%, Utilities +22.24%, Materials +21.87%, Health Care +18.68% and Energy +7.64%.
Lastly, in Commodity and Currency News, crude barrel prices may have taken a dive today, but prices ended the year with their largest increase since 2016. West Texas Intermediate decreased -0.73% and Brent Crude steeply fell -3.46% as investors closed out the year. Gold ended its year on a higher note, increasing +0.16%, marking the metal's best year fro growth since 2010. Finally, the U.S. Dollar fell Tuesday, with the DXY Index decreasing -0.22%.
