In a holiday-shortened week, the Dow (+1.3%), NASDAQ (+0.7%), and S&P 500 (+1.5%) all ended the week in positive territory. Taxable bonds were up about 0.2%, while tax free muni bonds were flat to slightly positive. Last week ended the month of December, 2020 Q4, and the full year. Last week’s gains occurred in the wake of a stimulus package being passed by Congress that would send checks to eligible households, and aid to small businesses.
2020 was a rather tumultuous year that included a sudden and swift market drop, ending the longest bull market in history. Despite that massive 5-week drop in March, we still ended the year in positive territory, which is pretty amazing in its own right. Stay tuned as I am preparing a lengthier document that provides a 2020 Market Overview and a 2021 Economic Outlook. That document should be completed within a week or so. Until then, have a great week, and let’s kick off a happy, safe, healthy, and prosperous new year!