After The Bell: Another Record-Setting Day On Wall Street

Andy Giersher
January 16, 2020 - 7:40 pm
Wall Street

Marcio Silva | Dreamstime.com

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(WBBM NEWSRADIO) -- Stocks surged to the upside Thursday, notching a fresh set of record highs, as solid earnings from Morgan Stanley and better than expected economic data put investors in a buying mood.

The S&P 500 added 27, the NASDAQ gained nearly 100 and the Dow Jones industrial average closed up 267 points, settling to 29,297.

"I think we really entered 2020 with forward looking views that the China-U.S. trade deal would become a reality,” Susan Schmidt, Head of US Equities at Aviva Investors in Chicago, said.

"That gives us some certainty as to what we are operating with, and I think investors are taking some comfort with that overhanging cloud that's been with us for almost 24-months."

Schmidt also noted that a lot of stocks are currently benefiting from the strength of the U.S. consumer; she sees that continuing for awhile.