As major indexes reached their highest levels in two years, stocks are on pace to have the best monthly performance in over a decade this December. In yesterday's session, the Dow closed at its highest level since August 28, 2008, the S&P 500 closed at a level that hasn't been reached since September 3, 2008 and the Nasdaq hit its highest level in almost exactly three years. Overall for the month of December the Dow is up 5%, the Nasdaq rose the most by 6.9%; this is the best monthly performance since 1999. The S&P rose 6.5% in December, making it the best month since way back in 1991. December is shaping up to be a great month for many; UPS is also expecting to have a great month. The shipping giant forecasted 24 million shipments worldwide in 24 hours, that's up 9% from last year. UPS said yesterday was expected to be their busiest day of the year. UPS credited a huge increase in online sales to their success this holiday season. Online sales are up 12% from last year as far as of last Friday totaling $27.46 billion. Analysts are expecting holiday sales to be up between 2 and 4% from last year. Stocks were mixed throughout the session following the latest batch of economic reports, which also were mixed. The Dow was rising to a gain of almost 10 points, just before falling later in the session; other major indexes were also falling. Commodity prices were also mixed today; gold prices were falling over $6.00 an ounce while oil prices were increasing. The dollar was falling versus the euro, the pound and the yen. With just under a half hour of trading remaining until next week, the Dow was still down 10 points.
I think that the American economy is on its way back up again, recovering from the major recession which started in 2008. As stated in the article above, the S&P 500 and Nasdaq have reached their highest levels in a long time. This is a good indicator for the U.S. Stock Market and the American economy in general, that people are spending (but not too much), businesses are doing well, and the economy is thriving. And if this keeps up, the economy will keep growing and eventually reach its peak.
http://www.stockmarketsreview.com/reports/us_stock_market_daily_report_20101223_74475/
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