Nasdaq shatters 9,000 on Boxing Day
As Canadian hunted for bargains in stores and online, Wall Street traders pushed the Nasdaq past 9,000 for the first time ever. Despite light holiday trading, the Nasdaq rallied 0.8% to close at 9,022.
A major factor was Amazon, which announced its best holiday season ever. Amazon stock rose 4.45% Thursday. Another e-giant, Facebook, gained 1.3%. The S&P didn’t do too badly either, climbing 0.51%, while the Dow gained 0.32%. By the way, those indices made new records too. American traders remain optimistic about U.S.-China trade.
Clearly, the Santa Claus rally is in overdrive this year and shows no signs of abating. On Friday, the rest of the world including the TSX resumes trading.