Stocks Book All-Time Highs on Final Day of Sparkling 2013
NEW YORK (TheStreet) -- U.S. stocks booked gains on the final day of 2013, a year in which the S&P 500 soared 29.6%, the most since 1997.
The S&P 500 closed up 0.4% to 1,848.36. The Dow Jones Industrial Average rose 0.44%, to 16,576.66. The Nasdaq added 0.54% to 4,176.59. Following the S&P's record gains, the Dow surged 28.1% and the Nasdaq popped 41.1% in 2013.
The S&P Case-Shiller home price index showed home prices across 20 metropolitan U.S. areas in October rose 13.6% from a year earlier. Economists surveyed by Bloomberg were expecting a 13.5% rise. The Institute for Supply Management reported that its December business conditions index for the Chicago area hit 59.1, vs. a 60.8 forecast.
The Conference Board reported December consumer confidence surged to 78.1, up from a prior reading of 70.4. Economists predicted a rise to 76.0.
"That's a huge number," Darrell Cronk, regional chief investment officer for Wells Fargo Private Bank, said in a phone interview from New York. "It's a good way to close out the year."
The S&P 500 has risen 29% during 2013, and with light volumes expected to conclude the final trading day as most firms are squaring away their portfolios for the year.
In company news, Netflix
Shares of Phillips 66
-- Written by Joe Deaux in New York.
>Contact by Email.