Stocks Closed at Records as Consumer Sentiment Surged

U.S. stocks finished at records on Friday as consumer sentiment surged and markets continued their Trump-inspired rally. The Dow Jones Industrial rose 142.04 points, or 0.72%, t 19,756.85, for a weekly gain of 3.1%. The S&P 500 gained 13.34 points, or 0.59%, to 2,259.53, for a weekly gain of 3.1%. The Nasdaq Composite was up 27.14 points, or 0.50%, to 5,444.50, for a weekly gain of 3.6%.

Consumer sentiment jumped in early December as Americans equated Donald Trump’s surprise election victory with policies that would buoy economic growth. The University of Michigan’s gauge surged 4.5% to 98.0. That reading was the highest since 2004.

Oil futures finished higher Friday for a second consecutive session with some of the world’s biggest crude producers expected to hold a meeting this weekend to fine-tune last month’s agreement to curb production.
West Texas Intermediate crude oil for January delivery tacked on 66 cents, or 1.3%, to settle at $51.50 a barrel. February Brent crude gained 44 cents, or 0.8%, to $54.33.

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