Stock Market Today: Dow Nicks New High in 2020's Penultimate Session
A Wednesday session light on trading volume and news alike ended in slight gains, with the Dow setting another fresh closing high.


Stocks quietly crept higher Wednesday as low volume on Wall Street accompanied heavy gridlock in Washington.
The Senate adjourned late Tuesday without taking action on the House's recently passed bill to hike stimulus payments to $2,000. For now, $600 payments are already starting to hit Americans' bank accounts.
On Wednesday, the U.K. became the first country to approve a two-dose COVID-19 vaccine from AstraZeneca (AZN, +0.6%) and Oxford University, but that good news was blunted by yesterday's reported 3,725 coronavirus deaths in the U.S. – a new daily high.

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
One market firework of note today: New S&P 500 component Tesla (TSLA, +4.3%) jumped to within just a few dollars of its previous all-time high after Wedbush analyst Daniel Ives said the electric vehicle stock's goal for 500,000 deliveries in 2020, while "not even on the map … going back to the late spring/early summer timeframe," is now within reach thanks to strength in China and Europe.
The major indices all finished a little higher, including the Dow Jones Industrial Average, whose 0.2% gain to 30,409 was just enough for yet another record close.
Other action in the stock market today:
- The S&P 500 edged 0.1% higher to 3,732.
- The Nasdaq closed with a 0.2% gain to 12,870.
- The Russell 2000 rebounded strongly, up 1.1% to 1,979.
- U.S. crude oil futures improved by 0.8% to $48.40 per barrel.
- Gold futures climbed 0.6% to settle at $1,893.40 per ounce.
More Forecasts for a Bumpy 2021 Start
A fruitful year with a turbulent start. Why yes, we could be describing the stock market in 2020 – the S&P 500, with just one more trading day to go, is on pace to finish with a 17%-18% total return (price plus dividends) despite COVID dragging the economy into recession.
But no, we're talking about how an increasing number of analysts are describing their outlooks for 2021.
For 2021, CFRA chief investment strategist Sam Stovall says his firm is targeting S&P 4,080, or a 9.5% return, in 2021, but "domestic equity markets appear to us to have over-discounted a second-half 2021 economic and EPS recovery, however, and as a result may be vulnerable to a Q1 pullback."
"The Russell 2000 is currently more than 30% above its 200-day moving average, the S&P 500’s next-12-month (NTM) P/E ratio trades at a 42% premium to its 20-year average, and the 12-month return differential for S&P 500 growth-value indices remains at a level last seen in December 1999," he says.
Practically speaking, that means a few things for investors. For one, you still have a little time to exit stocks that are facing more headwinds in 2021 than most. And if you're looking to put money to work, you have two choices: 1) Buy at the start of the year, and steel yourself for a potentially choppy first few months, or 2) Wait for a dip to buy into 2021's best stocks and funds.
However you decide to proceed, start your wish list with these 21 best stocks for 2021 – a group of picks that are either expected to benefit from a 2021 "return to normalcy" or ride emerging trends to red-hot returns in the year to come.
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.
Kyle Woodley is the Editor-in-Chief of WealthUp, a site dedicated to improving the personal finances and financial literacy of people of all ages. He also writes the weekly The Weekend Tea newsletter, which covers both news and analysis about spending, saving, investing, the economy and more.
Kyle was previously the Senior Investing Editor for Kiplinger.com, and the Managing Editor for InvestorPlace.com before that. His work has appeared in several outlets, including Yahoo! Finance, MSN Money, Barchart, The Globe & Mail and the Nasdaq. He also has appeared as a guest on Fox Business Network and Money Radio, among other shows and podcasts, and he has been quoted in several outlets, including MarketWatch, Vice and Univision. He is a proud graduate of The Ohio State University, where he earned a BA in journalism.
You can check out his thoughts on the markets (and more) at @KyleWoodley.
-
How to Navigate Your Medicare Advantage Plan in a Disaster
If you're a Medicare Advantage member in an area that has been impacted by a disaster, you might be worried about access to care and medicine. Here's what you need to know.
-
Older Investors: Boost Your Savings and Retire Earlier
This one measure can help older investors retire up to two years earlier and potentially double their retirement savings.
-
What Tariffs Mean for Your Sector Exposure
New, higher and changing tariffs will ripple through the economy and into share prices for many quarters to come.
-
Dow Dives 542 Points on Soft Jobs Data: Stock Market Today
The last day of a busy week ends with the first greater-than-1% move in either direction in more than a month.
-
Dow Bleeds Red Due to Big Blue: Stock Market Today
Six of the official GICS sectors were in the green, led by communications services, technology and energy stocks.
-
How the Stock Market Performed in the First 6 Months of Trump's Second Term
Six months after President Donald Trump's inauguration, take a look at how the stock market has performed.
-
Wellness Stocks to Invest in Now
Breakthroughs that help us live longer, healthier lives can also create opportunities for investors.
-
If You'd Put $1,000 Into Berkshire Hathaway Stock 20 Years Ago, Here's What You'd Have Today
Berkshire Hathaway is a long-time market beater, but the easy money in BRK.B has already been made.
-
If You'd Put $1,000 Into Procter & Gamble Stock 20 Years Ago, Here's What You'd Have Today
Procter & Gamble stock is a dependable dividend grower, but a disappointing long-term holding.
-
Stock Market Today: Trump's Copper Comments Cause a Stir
Markets remain resilient and monetary policy makers stand fast against a rising tide of new terms of trade, including around copper.