U.S. equities reached new records this week, supported by solid economic data, the Santa Claus rally, and light trading volume, which further fueled the market’s gains.
The Dow Jones Industrial Average rose by 1.58 percent for the week to 48,710, holding slightly below the week’s record high reached on Dec. 24. The S&P 500 gained by 2.29 percent to 6,929, also just below its new record high on Dec. 24. The tech-heavy Nasdaq Composite fared the best, rising by 2.55 percent to a new record, while the small-cap Russell 2000 ended 1.06 percent higher.
Market volatility declined for another week, with the Chicago Board Options Exchange Volatility Index falling by 8.79 percent to 13.6….