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Economy Booming as Shopping and Stocks Set Records in 2019

12-27-2019

Wall Street investors are looking to finish the year with a bang as stocks continue to set new records.

The Dow Jones Industrials closed over 28,600 on the day after Christmas. And the Nasdaq Composite - which is led by technology stocks - closed over 9,000 for the first time ever.

The S&P500 is headed toward its best year since 1997.

Some analysts caution that stocks could face a short-term correction early next year.

But many experts believe the market is on track to more records next year with the Dow possibly reaching 30,000.

And there's another good sign for the economy, as online holiday shopping sales set a new record this year.

Mastercard reports that online purchases were up nearly 19 percent over a year ago.

It's a reflection of the growing trend of more people doing their Christmas shopping online.

And overall, retail sales were up around three and a half percent from last year.   

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