WizzWatch Market Newsletter

As we close the doors on the last week of trading in 2020 and prepare for a new week as well as a new year, all three major indices ended the week trading slightly higher. Although the market was very quiet with little activity because of the holidays the Dow Jones Industrial Average, the Nasdaq Composite Index, the Standard and Poor’s 500, the prices of gold, silver as well as oil all ended the week trading in positive territory. The Nasdaq had it’s best year since 2009 with all the uncertainty due to Covid 19, the index still managed to have an excellent year.

The Dow Jones Industrial Average began the week trading at 30,283.23 and moved to a low at 30,274.24 before advancing to the upside and ending the week trading higher. The index is up 7.25% for the year. 

The top performing stock in the Dow 30 as the year came to an end were (AAPL) Apple, Inc. +76.71%, followed by (MSFT) Microsoft, Inc. +41.04%, (NKE) Nike, Inc. +39.64%, (CRM) Salesfforce.com +36.85%, and (DIS) Walt Disney Co. +25.27%.

As the market came to a close the Dow ended the week trading at an all time closing price high at 30,606.48 up 406.61 points or 1.35% on lighter than average trading volume of 1.25 billion. The average trading volume for the index is 1.89 billion. Due to the holidays there was not too much volatility in the markets.

The Nasdaq Composite index also advanced to the upside to end the week trading higher. The index began the week trading at 12,914.64 and declined to a price low at 12,821.23 before it recovered to end the week trading higher on the upside. The Nasdaq was the biggest out of all three major moving averages for the year. The index ended the year up 43.64%. 

The top performing Nasdaq stocks for 2020 were (TSLA) Tesla, Inc. +743.44%. (PTON) Peleton Interactive, Inc. +423.23%, (MRNA) Moderna, Inc. +434.10%, (ZM) Zoom Video Communications, Inc. +395.77%, and (PDD) Pinduoduo, Inc. +369.78%.

As the final week of trading in 2020 came to and end the Nasdaq closed to end the trading session on the holiday shortened week at 12,888.28 up 83.55 points or 0.65% on heavier than average volume of 19.72 billion for the third consecutive week. The average weekly trading volume for the tech weighed index is 18.63 billion. 

As for the S&P 500 it was not left on the sideline as it also ended the week trading at historical price highs. The Standard and Poor’s began the week trading at 3,760.20 and moved to a price low at 3,723.03 before ending the week trading higher. The index has been advancing for 5 of the past 9 trading weeks.

The top 5 stocks in the S&P 500 for the year were (ETSY) Etsy, Inc. +301.60%, (CARR) Carrier Global Corporation +214.33% (NVDA) Nvidia Corporation +121.93%,  (PYPL) Pay Pal +116.51% and (LB) L Brands +105.24%.

As the week came to an end on Thursday the S&P 500 closed to finish the trading session at 3,756.07 up 53.01 or 1.43% on lighter than average trading volume of 6.5 billion. The average weekly trading volume for the index is 12.13 billion. As for now downside support is at 3,655.86 with upside resistance at 3,760.20. The Standard and Poors 500 was up 3.71% for the month of December and up 16.26% for the year.

Light sweet crude closed to end the week trading at $48.52 per barrel up $0.29 or 0.60% as the price of gold ended the week trading at $1,895.10 per ounce and silver at $26.41 per ounce. Gold is up 14.42% for the year, silver up 47.38% and oil down 20.54%.

By Marlin Rolle