US stocks hold modest gain on final day of volatile year - AP News

Stocks were moving higher Monday as Wall Street drew closer to ending the final day of trading in a volatile year. Health care companies, retailers and technology stocks drove the market’s gains. Despite the upbeat day, the benchmark S&P 500 index was on track for its worst full-year showing in a decade

KEEPING SCORE: The S&P 500 index rose 14 points, or 0.6 percent, to 2,500 as of 3:37 p.m. Eastern Time. The Dow Jones Industrial Average gained 213 points, or 0.9 percent, to 23,276. The Nasdaq added 35 points, or 0.5 percent, to 6,620. The Russell 2000 index of smaller-company stocks picked up less than 1 point to 1,338.

Trading has been highly volatile in December, capping a year of turbulence for markets. The major indexes closed last week with their first weekly gain in what’s been an otherwise painful month. The indexes are still all down around 10 percent for the month and are on track for their worst December since 1931.

THE QUOTE: “Last week we really had such a volatile week, and a lot of that had to do with thin trading volumes, some computerized trading and investors just being exhausted from a very difficult fourth quarter,” said Jeff Kravetz, regional investment strategist at U.S. Bank Wealth Management. “Today is the last day of the year and investors are starting to look into next year.”

US-CHINA TRADE: Investors drew encouragement Monday from a tweet from President Donald Trump on Sunday, in which the president said he had a “long and very good call” with Chinese President Xi Jinping. Trump added: “Deal is moving along very well. If made, it will be very comprehensive, covering all subjects, areas and points of dispute. Big progress being made.” Meanwhile, the official Xinhua News Agency cited a Chinese Foreign Ministry spokesman as saying that “China stands ready to work with the United States to move forward the China-U.S. ties which are underpinned by coordination, cooperation and stability.” - Read More

US stocks hold modest gain on final day of volatile year - AP News