US stocks close at record highs to end tumultuous 2020

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A person with the 2021 sign in Times Square on December 21.
  • US stocks went out with a bang on Thursday, the last trading day of 2020.
  • The Dow Jones industrial average and the S&P 500 both closed at record highs, while the tech-heavy Nasdaq had its best year since 2009, gaining 43% in 2020.
  • Watch major indexes update live here.

US stocks closed higher on Thursday to finish 2020.

The Dow Jones industrial average and the S&P 500 both closed at record highs, while the Nasdaq had its best year since 2009, gaining 43%.

The S&P 500 gained 16% in 2020, while the Dow gained 7%.

Here's where US indexes stood after the 4:00 p.m. ET close on Thursday:

Read more: JPMorgan unveils its 50 'most compelling' stock picks to buy for 2021 - and details why each one will be a top performer

Bitcoin surged nearly 300% in 2020. Investors who want to gain exposure to the coin through an exchange-traded fund may be able to next year if an application from VanEck filed this week with the Securities and Exchange Commission proves successful.

Stocks may be vulnerable to a pullback in the first quarter, CFRA's Sam Stovall said in a note to clients on Wednesday.

"Domestic equity markets appear to us to have over-discounted a second-half 2021 economic and EPS recovery ... and as a result may be vulnerable to a Q1 pullback," the chief investment strategist said.

Oil prices inched higher. West Texas Intermediate crude rose 0.06%, to $48.43 per barrel. Brent crude, oil's international benchmark, was up 0.17%, to $51.72 per barrel.

Gold was up 0.54%, to $1,903.60 per ounce.

Read more: Market wizard Jeff Neumann started trading with $2,500 and grew it to $50 million. He shares 6 timeless rules that helped him reach millionaire status in his first year.

Read the original article on Business Insider

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