A Christmas tree is pictured outside the New York Stock Exchange in New York December 16, 2020. — Reuters pic
That followed a reading on Wednesday that showed US retail sales falling more than expected in November, as consumer spending remained constrained. The S&P 500, Dow Jones Industrial Average, Nasdaq and Russell 2000 index of smaller companies all closed at their highest levels ever. The Nasdaq Composite, which closed at a record high for a third-straight day, added 106.56 points, or 0.84 per cent, to 12,764.75. The Russell 2000 rose nearly 1.3 per cent to 1,978.
He noted that best-performing sectors like technology were most at risk of a pull back, while some of the “more unloved sectors” like financials and energy were getting fresh attention as investors looked for bargains.Google-parent Alphabet dipped nearly 1 per cent after a group of 38 US states and territories filed an antitrust complaint accusing Google of trying to extend its search monopoly to dominate smart speakers, televisions and cars.
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