U.S. stocks are taking a breather this morning after finishing another record breaking week last week. In early trading this morning the Dow is down 100 points while the S&P500 and Nasdaq are also in the red. Last week, all three major U.S. indices closed at record levels with the S&P500 on pace to record its fifth best start to a year since 1950.
US stocks rallied last week for the third consecutive week despite a slight increase in volatility as concerns heightened over a potential US government shutdown. That shutdown occurred over the weekend, the first time since 2013, but ultimately did not rattle investor confidence in Monday’s session as stocks continued their record march higher.
The U.S. stock and bond markets are closed today in observance of the Martin Luther King, Jr. Holiday.
Stocks closed out last week once again in record territory. The Dow was up 228 points to finish the week at 25,803 while both the S&P500 and the Nasdaq were up 0.7% to also close at record levels.
U.S. stocks are taking a breather today after starting the New Year on a torrid pace during the first full week of trading in 2018. All three major U.S. equity indexes finished last week with solid gains and posted record levels on Friday. For the first time since 1964, the S&P500 closed at record levels in the first four sessions of the year.
U.S. stocks are off to a roaring start to kick off 2018 after finishing a record setting year in 2017. In early trading this morning, the three major indices are all comfortably in the green with the Dow Jones within striking distance of 25,000 points.