The Major Indexes didn’t let last Monday’s ho-hum day spoil their big ending.
They celebrated the final trading day of the year in proven 2013 fashion - at record highs. The Dow pulled off its 52nd record close, ending the year at 16,576.66, up 0.44% for the day and 26.5% for the year, signifying its best annual performance since 1995. The S&P 500 clocked its 45th record close for the year, closing at 1,848.36, rising 0.40% for the day and 29.6% annually, reflecting its best advance in 16 years. Of the three Indexes, the Nasdaq experienced the biggest percent gain for the year, adding 0.54% in Tuesday's trading to hit an overall gain of 38.3% for the year to end at 4,176.59, its highest level since 2000.
After being closed mid-week for the New Year holiday, the market didn’t exactly start the New Year off with a bang, as profit-taking ensued as investors cashed in their chips, causing the Dow to retreat 0.8%, the S&P 500 0.9% and the Nasdaq 0.8%. Friday’s volatile session ended mixed following what could be Fed Chairman Ben Bernanke's last speech. His remarks that the United States economic recovery "clearly remains incomplete" weren’t exactly the encouraging words investors hoped for and the indexes reflected their disappointment as the Dow picked up just 28.64 points, while the S&P 500 shaved a slight 0.61 points and the Nasdaq fell 11.16 points.
Overall, the Dow, S&P 500 and Nasdaq ended the week 0.05%, 0.5% and 0.6% lower, respectively.
And that's The Market In Review.