Despite Washington’s inability to come to terms yet on the fiscal cliff, stocks continue to march higher this week. Today, the Dow Jones Industrial Average (chart) closed up 59.75 points and is up around 1.5% so far this week, the S&P 500 (chart) finished the day up 7.88 points, the Nasdaq (chart) +6.03 points and the small-cap Russell 2000 (chart) closed up 4.60 points.
With only six trading days left in the year, maybe all we need is the proverbial “Santa Clause” rally to close the year out on a high note. Hopefully, Washington can help Santa out and get some sort of deal done before year end, if not, the markets could be in for some rough sledding.
Have a safe and happy holiday season 🙂