John Hancock: Weekly Market Recap Week Ended December 27th
Ending on a high note
U.S. stocks extended their recent run of posting modest weekly gains and pushing their record levels slightly higher, with the major indexes rising nearly 1%. For the S&P 500, it was the fifth weekly gain in a row and the 11th positive week out of the past 12.
Dollar weakness
The U.S. dollar fell in international currency markets, extending a recent run of weakness for the greenback that dates to early October. On Friday, the dollar fell to its lowest level since July as trade tensions between the United States and China continued to ease.
NASDAQ tops 9K
A rally on Thursday sent the NASDAQ above the 9,000 level for the first time. It took the index 335 trading days to reach that threshold after crossing the 8,000 mark back on August 27, 2018. That’s about twice as long as the 164 days that it took the index to climb from 7,000 to 8,000.
Sector outlook
Looking ahead to 2020, many Wall Street analysts have a positive view of three equity sectors: energy, healthcare, and communication services. Those are the sectors that had the highest percentages of “buy” ratings from analysts as of late December, according to FactSet. Those with the lowest percentages of buy ratings: consumer staples, utilities, and financials.
Source: https://wmr.jhinvestments.com/