The US Stock Market as measured by the S&P 500 Index was 16.26% higher in 2020 a number that nobody thought was possible back in March when the market was down over 30% at the outset of the COVID-19 pandemic. The tech heavy NASDAQ was 43.6% higher its best year since 2009.
This week Wall Street will be keeping a close eye on Georgia as the state prepares for a Senate runoff election on Tuesday, which could change their majority in the chamber.
The number of people filing for unemployment benefits for the first time unexpectedly fell last week, marking its second straight decline. Initial jobless claims declined by 19,000 to 787,000. Continuing claims, which include those who have received unemployment benefits for at least two straight weeks, fell by 103,000 to 5.2 million. The number of people receiving benefits across all unemployment programs dropped by 800,000 to 19.6 million.
Tesla reported better-than-expected 2020 vehicle deliveries, driven by a steady rise in electric vehicle adoption, but narrowly missed its ambitious full-year goal during a punishing year for the global auto industry. The company delivered 499,550 vehicles during 2020, above Wall Street estimates but 450 units shy of CEO Elon Musk's target.
Northwest Quadrant Wealth Management