WEEKEND WRAP HOLIDAY EDITION: Recapping: Stocks Up, Bonds Fluctuate; PMs Stable

Thank goodness, 2019 is nearly over and done. It's been a crazy 12 months, hasn't it?

With Washington in turmoil (think impeachment), Wall Street stepped up to the plate and hit stocks out of the park. It was a banner year for equity investors, one of the top three of the new century, and, with two trading days left, it has a chance to be the best year since 1997 on the S&P 500.

The NASDAQ has shown weekly gains in 11 of the last 13 weeks and the S&P has finished on the upside in 11 of the last 12 weeks.

Fresh all-time highs were attained by the major indices as early as April (NASDAQ), May (S&P), July (Dow), and as late as December for the NYSE Composite.

Bonds were up-and-down as the Fed began lowering the federal funds rate after raising it. Yield on the 10-year note was as high as 2.79% (January) and as low as 1.47 (August, September), but have steadied into a fairly tight range of 1.75% to 1.93%, the latter, higher figure reached just days ago.

Precious metals, have, for the ninth consecutive year, failed to break out of their doldrums. Holders of gold or silver have had a rough go of it this second decade of the 21st century. Silver continues to be stuck in a range between $17 and $18 per ounce, while gold presses up against resistance at $1500. Neither has been able to make any substantial progress other than sporadic, spasmodic moves in either direction.

Housing in the US continues to become more and more unaffordable for most people as wages can't keep pace with rising costs. Wealth inequality and the pauperization of the middle class is becoming a major issue that could balloon into campaign sloganism in 2020. Other than that, no predictions for next year, except to remark that the stock rally shows few signs of slowing any time soon.

If you're looking for predictions, go see a palm reader. What will happen in 2020 is fluctuation in all markets, some balkanization, especially in real estate and globally, in commodities.

Only two trading days remaining in 2019. Happy New Year!

At the close, Friday, December 27, 2019:
Dow Jones Industrial Average: 28,645.26, +23.86 (+0.08%)
NASDAQ: 9,006.62, -15.77 (-0.17%)
S&P 500: 3,240.02, +0.11 (+0.00%)
NYSE Composite: 13,944.14, +3.74 (+0.03%)

For the Week:
Dow: +190.17 (+0.67%)
NASDAQ: +81.66 (+0.91%)
S&P 500: +18.80 (+0.58%)
NYSE Composite: +54.89 (+0.40%)