Stocks climbed to new highs with the S&P hitting its 52nd record close of the year. Bobbi Rebell reports.
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Christmas cheer continued on Wall Street. The Dow Jones Industrial Average, S&P 500 and NASDAQ advanced for a second straight week of gains on light trading. The Dow making it lucky 7 for its daily winning streak. The S&P 500 hitting its 52nd record close this year- the most since 1995.
For the week- all arrows up with the Dow up close to one and a half percent.
Retailers also in a good mood- MasterCard Advisors SpendingPulse data showed retail sales rose 5.5 percent between Black Friday and Christmas Eve, in line with estimates. Customers spent more on experiences- think hotels and restaurants- over electronics.
Morningstar Retail Analyst, Paul Swinand:
SOUNDBITE: PAUL SWINAND, RETAIL ANALYST, MORNINGSTAR (ENGLISH) SAYING:
"Well I think the finish to the season actually felt pretty strong. I saw a lot of traffic. I think consumers are in a very good mood and some of the other data we saw like the Mastercard data suggesting that the season finished pretty strongly. "
Amazon among the big winners- shares were higher - it drew more than 10 million new customers to its Prime shipping and digital content service over the holidays.
A pretty pictures for shares of Go Pro, their action camera were a hot gift this holiday season.
Biotech stocks continue to recover from their massive slide this week with shares of Celgene and Gilead Sciences moving higher.
Low cost carrier Virgin America's shares to continue to soar. Deutsche Bank initiated coverage on Virgin America on Wednesday with a Buy rating.
Turning to Europe- markets in london and paris were mixed- traders took a holiday in Frankfurt.
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