Despite ending on a negative note for the first time in six days on Tuesday, Wall Street is still predicted to make a strong showing for the remaining day of 2009 as the bulls prepare to celebrate the first annual advance for U.S. stocks in two years. Hopes for economic stability in 2010 are high even in light of negative reports on consumer confidence.
The resiliency of the market following its bottoming out in March has given economists and many analysts a reason to expect a more positive 2010. 2009 trading will end early for New Years on Friday, capping off what has been a positive but unsure time for the U.S. stock market. The U.S. stock market's resiliency since the March bottom has put investors in the mood to celebrate.
The S&P 500 will close on an especially high note, with its highest numbers since 2003. Such statistics are fueling the notion of a solid 2010 and optimism regarding the recovery. The benchmark Standard & Poor's 500 began in a limited trading range in November; however by Christmas Eve it had reached a 14-month closing high justifying predictions of a recovery. For 2009, the S&P rose 24.7 percent the Dow is up 19.9 percent for the year and the Nasdaq is up 45 percent.
Many analysts also predict improvements in major sectors like housing and labor also contributing to a better 2010.
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