Why US stock markets closed out 2020 at record highs

Posted on AllSides December 31st, 2020
From The Center
ANALYSIS

Wall Street closed out a tumultuous year for stocks with more record highs Thursday, a fitting coda to the market’s stunning comeback from its historic plunge in the early weeks of the coronavirus pandemic.

The benchmark S&P 500 index finished with a gain of 16.3% for the year, or a total return of about 18%, including dividends. The Nasdaq composite, powered by high-flying Big Tech stocks, soared 43.6%. The Dow Jones Industrial Average gained 7.2%, with Apple and Microsoft leading the way.

The market’s milestone-setting finish follows a mostly upward...

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