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Stocks and Bonds Little Changed During Holiday Week Thumbnail

Stocks and Bonds Little Changed During Holiday Week

The markets were mixed last week as the Dow (+0.1%), NASDAQ (+0.3%) and S&P 500 (-0.1%) were relatively flat for the week.  Bonds were relatively flat as well, as they neither gained nor lost more than 0.1%.  In short, an extremely ho-hum week, as many investors took a break for the holiday.  In US news, the political ping pong match continued as the stimulus package finally made it through Congress, but to very little delight of President Trump, who wanted larger checks sent to Americans, and a smaller “waste” of budget expenditures deemed as “non-essential”.  In the end, the President begrudgingly signed the stimulus package, but asked Congress to make adjustments to it.  At the moment, qualified Americans (based on income) will receive a check in the amount of $600 plus $600 per dependent child.  In global news, Britain struck a trade deal with the European Union, only days before the final exit of Britain from the EU.  There doesn’t appear to be much more in the news in the coming days, so we can probably expect to end the year with another boring week.  Stay tuned for a more comprehensive review of 2020 and an outlook for 2021, as I expect that to be written and sent out in the first week of January. 

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