After The Bell: A Record-Setting Week On Wall Street

Andy Giersher
January 17, 2020 - 6:48 pm
Trader Stock Exchange

(Photo by Kena Betancur/Getty Images)

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(WBBM NEWSRADIO) -- Stocks closed slightly higher Friday, wrapping up a record-setting week, as a solid start to quarterly earnings season and improving geopolitical conditions helped boost investor sentiment.

The S&P 500 gained 12, the NASDAQ added 31 and the Dow Jones industrial average closed up 50 points, settling to 29,348.

“I think most of the move we enjoyed this week was really more from the geopolitical front. We had obviously de-escalation with Iran, we signed a phase one of the trade pack with China. That set the stage for a little more comfort among investors,” said Jack Ablin, chief investment officer at Cresset Capital in Chicago.

He also encouraged investors not to just dive right into the stock market unless they have a more than seven-year investment time horizon.