The rally in U.S. equities that began on the day after Christmas continued last week, as the S&P 500 climbed 2.5 percent, bringing the total for the rebound to 10.4 percent. Stocks have risen on nine of the twelve trading days throughout this period. Each of the eleven sectors in the index has advanced, but it has been cyclical groups that have led the way, including energy, consumer discretionary, communication services, industrials and technology.
Ameriprise Financial (NYSE: AMP) is ushering in 2019 with new advertisements that bring to life the personalized experience the firm and its approximately 10,000 financial advisors deliver to clients.
The bounce in U.S. equities off the Christmas Eve low now amounts to an impressive 7.7 percent, although the move has certainly been vertiginous, as a 2.5 percent down day in the S&P 500 last Thursday was followed by an almost 3.5 percent gain on Friday. But at week’s end, stocks had climbed 1.9 percent. The big move on Friday came after Federal Reserve Chairman Powell said the Fed would be patient in normalizing monetary policy, temporarily relieving the anxiety of the more skittish Fed watchers.