Wall Street Ends 2019 on a High – S&P 500 Gains Almost 190% Over the Past Decade
Arslan Butt • 1 min read
Wall Street ended 2019 on a high note, continuing their rally into Tuesday over rising hopes for the US-China phase one trade deal. SPX has soared nearly 190% over the past decade, experiencing the highest annual gain in six years, along with Nasdaq. The DOW, meanwhile, registered the highest annual gain since 2017.
US stock markets were driven higher by President Trump’s confirmation that the phase one deal will be signed at the White House on January 15, 2020. His confirmation, along with an official date for the signing ceremony, lifted a significant amount of uncertainty from financial markets and boosted the risk appetite, sending stocks higher.
Tuesday turned things around for Wall Street after Monday saw S&P 500 and Nasdaq slide lower after stocks became overbought, but those gains were quickly recovered by Trump’s comments. Over the last month of the year, Nasdaq gained 3.56% while the S&P 500 gained 2.87% and Dow gained around 1.73%.