Stocks Close on New High

At least some people didn’t have a case of the Mondays. The Dow, S&P 500, and Nasdaq are all still above recent highs of 16,000, 1,800, and 4,000 respectively, with the S&P closing at a new record of 1,808. While there was no major economic news on Monday outside of the acquisition of US Foods by Sysco and the relaunching of American Airlines, the continued rise of the stock market comes after a better-than-expected November jobs report last Friday. While the good jobs report might herald the Federal Reserve being more open to tapering its bond buying program, the strong reaction by the stock market might mean investors have adjusted already to that future.