January 16, 2020

For a 7th consecutive day the S&P 500 hit a new all-time high as investors continue to celebrate the New Year and the new U.S. & China trade agreement which many believe could spark a new wave of global growth. The Dow opened 150 points higher and never looked back.

At the close:

  • DOW +267 to 29297
  • S&P +27 to 3316
  • NASDAQ +98 to 9357
  • OIL +65 cents to 58.50
  • GOLD -3 to 1549

In corporate news shares of Morgan Stanley, already 25% higher in the last 12 months, gained 6.6% today after the investment bank reported net income 30% above what analysts were expecting. Shares of Tesla have been on fire, more than doubling in the last 90 days, but edging lower today on a report that new Tesla registrations in California during Q4 were 50% of what they were last year due to a significant cut in Federal tax credits for electric vehicles.