New York (CNN) — US stocks rallied powerfully last week after a topsy-turvy start to the month.
History indicates that if the market can cling to those gains, that could bode well for the rest of the year.
But last week, all three major indexes turned positive for the year as tech stocks led the broader market higher.
The January barometer, introduced in the Stock Trader’s Almanac, states that however stocks perform during January, their year-end performance will follow suit.
That is good news for the 85 million homeowning households that enjoyed further gains in housing wealth, said Lawrence Yun, chief economist at NAR.
Persons:
turvy, bode, Bell, Anna Rathbun, we’re, it’s, we’ve, Bryan Mena, ” Joanne Hsu, Anna Bahney, Lawrence Yun, Read
Organizations:
CNN Business, Bell, CNN, Dow Jones, Nasdaq, CBIZ Investment Advisory Services, The University of Michigan’s, National Association of Realtors
Locations:
New York