The Nasdaq Composite hit a new all-time high, while the Dow slipped from its record.
rose to a new all-time high of 8,952.88. The S&P 500 has risen 2.6% for December and 8.3% for the quarter. It is also on pace for its best annual performance in six years, up 28.6% for 2019. If the benchmark ends the year up more than 29.6%, it will scoreTuesday marked the official start of the Santa Claus rally period, which happens on the final five trading days of the year and the first two tradings days of the new year.
Investors also cheered the news this week that China is taking action to goose its economy. The country said it will boost imports by cutting tariffs on over 850 products. The Chinese government also said it would study additional cuts in the bank reserve-ratio requirements. The U.S. stock market is closed on Wednesday for Christmas. Thursday and Friday are regular trading days.
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