GLOBAL MARKETS-S&P 500, Dow Closes at Record Highs, Dollar Gains at End of Turbulent Year

* S&P 500,, Dow posts annual gains

* United States, prices fell by 20.5%, 21.5% in 2020

* The dollar has a year since 2017

* Chart: asset performance 2020

* Chart: Global exchange rates in 2020 (updates at market close)

By Stephen Culp

NEW YORK, Dec.31 (Reuters) – Wall Street rose on Thursday and the dollar gained ground as investors closed the book on a turbulent year of pandemic, recession and recovery.

All three major indexes gained ground, with the Dow and S&P 500 picking up speed in the closing minutes of the session to exit 2020 to record highs. In a historic year, indices both roared and fell as economic shutdowns to contain the coronavirus brought markets to their knees.

“It’s a calm day with little news and low volume – an ironic end to such a tumultuous year,” said David Carter, chief investment officer at Lenox Wealth Advisors in New York. “All eyes are on next year, which will be a ‘show me’ time, with investors watching to see if actual fundamentals are as strong as current stock prices expect.”

Stocks rebounded with vengeance from the March fall, with the Nasdaq, S&P 500 and Dow posting annual gains of 43.6%, 16.3% and 7.2% respectively.

“When you think about the year, we’re glad it’s over, but it was also amazing in so many ways,” said Ryan Detrick, senior market strategist at LPL Financial in Charlotte, North Carolina. “This is the first year in history that the S&P has fallen 30% for the year at one point and managed to finish higher.

“It’s a good reminder for investors to have a longer time horizon and when bear markets do occur they should probably be viewed as opportunities and not a time of panic which is easier said than done. ‘to do,’ added Detrick.

The first USJOB = ECI jobless claims fell unexpectedly for the second week in a row, according to the Department of Labor, but remain high as the economy stumbles on a COVID-19 resurgence. Donald Trump was due to return to Washington on Thursday to resume his fight with Congress over a defense bill and stimulus controls. around the world, have struggled to deploy vaccines to end the global health crisis. About 2.8 million Americans have been vaccinated so far, well below the year-end target of 20 million. deaths from COVID-19 have exceeded 1.8 million. In the United States, more than 340,000 have died from the disease.

The Dow Jones Industrial Average rose 196.92 points, or 0.65%, to 30,606.48, the S&P 500 gained 24.03 points, or 0.64%, to 3,756.07 and the Nasdaq Composite added 18.28 points, or 0.14%, to 12,888.28.

European stocks closed lower as the tightening of coronavirus restrictions in the UK and higher US tariffs on some EU products dampened optimism on the last day of the Brexit transition. The pan-European STOXX 600 index lost 0.30% and the gauge of MSCI stocks around the world gained 0.15%.

Oil prices rose in hopes of a rebound in demand, but U.S. crude and Brent prices ended 2020 down 20.5% and 21.5%, respectively. Crude CLcv1 rose 0.25% to $ 48.52 per barrel and Brent LCOcv1 stood at $ 51.80 per barrel, up 0.33% on the day.

Yields on US Treasuries have fallen, causing the yield curve to flatten as the exaggerated low-volume market moves. The 10-year notes were last up 3/32 in price to drop 0.9165%, up from 0.926% on Wednesday night.

The price of the 30-year bond last rose 12/32 to a yield of 1.6462%, down from 1.662% on Wednesday night.

The dollar appreciated against a basket of global currencies, but ended its worst year since 2017, as expectations of further budget support and loose monetary policy from the US Federal Reserve prompted investors to avoid the greenback. Up 0.24% as the euro fell 0.6% to $ 1.2221.

The Japanese yen weakened 0.06% against the greenback to 103.26 per dollar, while the British pound last traded at $ 1.3673, up 0.37% on the day.

Gold prices gained as a safe haven metal recorded its best year in a decade due to economic uncertainties caused by the pandemic. added 0.2% to $ 1,897.88 an ounce. Global Stock Index

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