After being closed for the Christmas holiday, the markets opened Tuesday with a quiet session, as trading volumes generally dwindle around the holiday period. Despite not making a move of at least 1% in either direction since Dec. 7, the Dow Jones Industrial Average extended a post-election rally that has lifted it 8.8% since Nov. 8 and brought its 2016 gain to 14%. The S&P 500 gained 0.2%, with the Technology sector leading the way. Furthermore, U.S. crude oil rose 1.7% to $53.90 a barrel, its highest level since July 2015. Thanks to a recent climb in commodity prices, shares of energy and mining companies helped stocks inch higher midweek. The following day, Thursday, the markets closed mixed. Recent declines have put the Dow on track for its first weekly loss since the election and wiped out three weeks of gains for the S&P 500. Indices closed in red territory on Friday but gained for the year. In the year’s last day of trading, the Dow Industrials fell 0.1%; the S&P slipped 0.2%, and the NASDAQ fell 0.6%. However, for the year, the Dow jumped 13.5%, the S&P 500 added more than 9.5% and the NASDAQ Composite gained more than 7.5%. Crude oil also ramped up by 45% in 2016.
