Indices closed in the red zone on Monday, likely a result of President Trump’s comments that he would “shake up” trade, taxes and regulations. The market indices closed with gains on Tuesday, with the Dow Jones Industrial Average climbing back toward the 20,000 mark while the S&P 500 and NASDAQ both ended trading at new record levels. By mid-week, the Dow hit an all-time high, closing above the 20,000 mark. The S&P 500 and NASDAQ also ended the session at record levels. Crude oil slipped on a jump in inventories, as reserves increased by 2.8 million barrels last week versus expectations of a lesser uptick of 300,000 barrels. The market ended trading with mixed moves on Thursday. The Dow landed above the 20,000 mark again while the S&P 500 and NASDAQ shed some points. In other items, new home sales decreased in December as sales slipped by 10.4% last month to a rate of 536,000 versus expectations of 595,000. Additionally, initial jobless claims ticked up last week. Department of Labor figures showed new claims increased by 22,000 to 259,000 versus expectations of a lesser gain of 246,000. The market ended Friday mixed, but were up across the board for the week. The Dow and S&P 500 shed some points while the NASDAQ added marginal gains on Friday. Energy brands retreated on a dip in crude oil prices. Gross domestic product numbers failed to inspire the session when Commerce Department data showed GDP rose at an annual rate of 1.9% in the fourth quarter. The results were down from 3.5% growth in the third quarter. Looking elsewhere, consumer confidence ticked up in January. A final reading showed sentiment hit 98.5 this month, up from a preliminary estimate of 98.1, and well beyond expectations for the reading to remain unchanged.
