NEW YORK (Pakistan Point News / Sputnik - 25th December, 2019) US stocks closed mostly up on Christmas Eve with the technology sector hitting record highs after President Donald Trump reiterated that the United States will sign the Phase One of a trade deal with China negotiated earlier this month.
Wall Street's tech-heavy Nasdaq Composite Index hit all-time highs at 8,957, before settling up nearly 0.1 percent at 8,953. The technology sector has been the best performer among US stocks this year, lifting the Nasdaq by 47 percent.
The S&P500 index, which measures the value of the 500 largest corporations by market capitalization listed on the New York Stock Exchange or Nasdaq, settled at 3,224, unchanged from its performance on Monday.
The Dow Jones Industrial Average closed at 28,515 versus the previous settlement of 28,551.
Trump told reporters at his Mar-a-Lago resort in Palm Beach, Florida that there will be a signing ceremony to formalize the first phase of the US-China trade deal that was negotiated earlier this month. While Trump did not provide a date, it is widely expected for the trade deal to be signed in January.
Wall Street has had one of its biggest and most prolonged bull runs this year on optimism over the trade deal with China as well as runaway jobs growth and other strong US economic data.
The Nasdaq had 51 record highs through the year - almost one every week - while S&P500 had 14 new peaks.
