Stocks began the year on a positive note, with sharp advances just about everywhere except the Utilities, which is to be expected. The top performing averages were the Transports – up 1.86% and the Nasdaq – up 1.50%. The Nasdaq notched its first close above 7,000 today, finishing at 7,006.90.
Tech stocks were definitely the leaders but consumer discretionary names also performed well. On this first trading day of 2018, the Industrials rose 105 points and the broader S&P 500 climbed 0.83% – a strong performance all around. As mentioned, Utilities were the only major average in the red, down 1.06%.
Overseas markets didn't get off to quite as strong of a start. In Europe, most averages except for Spain's IBEX closed in the red, causing the Stoxx 600 to fall 0.21%, while the Europe Dow gained 0.08%. Asia was more biased to the upside, with the Shanghai Composite gaining 1.24% and the ... Log in or subscribe to continue reading.