The following is an excerpt from Ben Levisohn | January 13, 2017 | Barrons.com |
Stocks finished mixed in a week highlighted by a Donald Trump news conference.
The S&P 500 dipped 0.1% this week after advancing 0.2% to 2,274.64 today, while the Dow Jones Industrial Average declined 0.4% this week after finishing off 5.27 points at 19,885.73 today. The Nasdaq Composite rose 1% this week after rising 0.5% to 5,574.12 today, a new record close. It was a reversal of the so-called Trump trade which had seen the Dow outperform the Nasdaq.
Not that the rally has been anything to sneeze at. The S&P 500 has gained 6.4% in the two months since the election. Cornerstone Macro’s Carter Worth puts that in context:
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