11 January, 2019
The USA 500 traded higher on Thursday by close of business at 2596.64 to achieve its best start to a new year since 2006. A late-session rally solidified Thursday’s gains, after investors digested comments from Fed Reserve Chairman Jerome Powell, who stated that the economy is in good health, while adding that the central bank would be cognizant of stresses to financial markets amid rate hikes. The comments were similar to Powell’s remarks last week during a discussion of current and former Fed bosses that helped to reassure anxious investors. Equity markets are emerging from a bruising 2018, which resulted in the worst declines for the three main U.S. benchmarks in about a decade. The winners of the session included General Electric, up 5.96%, Tesla, growing 1.90% and Apple, increasing 0.32%. Among the losers were AMD, down 2.23%, Microsoft, falling 0.64% and Pfizer, dropping 2.38%.