Dow Jones has been growing for seven weeks in a row

American stock exchanges have grown according to Friday and the week results, whereas this is the 7th week Dow Jones increase in a row, which is the longest rally in two-years period, according to The Wall Street Journal.

26.Dec.16 2:37 AM
By Anna Tuzova
Photo Toinnov.com

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Dow Jones has been growing for seven weeks in a row

In five sessions the Dow Jones grown by 0,5%, while S&P 500 and NASDAQ Composite both gained 0,3%.

Dow Jones hasn’t reached the record high level, which is 20 000 points, but many experts hoped that it will surpass the mark in last sessions of the expiring year.

At the same time analysts, quizzed by Bloomberg, expect growth rate of S&P 500 index of about 4% to 2356 points in 2017.

Experts note that the trading volume in Friday was significantly lighter than before, as investors have been preparing for the Christmas holidays. The most stock markets aren’t working on Monday, including the Great Britain and Hong Kong, and resuming bidding on Wednesday.

"The word of the day is 'holiday,' which has been settling in as a theme all week. There has been a slowdown in trading volume and a slowdown in volatility, and we've also had a pretty good move since the election, so we're digesting that move, which is healthy," as Frank Davis, head of sales and trading at LEK Securities in New York, said.

The most important Friday event was the publication of the statistic in U.S.A. Final assessment of the consumer confidence by the Michigan University has grown from the November level of 93,8 points to 98,2 points (maximum since 2004) in December. New build homes sales grown to 592 thousand, which exceeded the forecasts of 585 thousand.

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