The festive year-end rally paused Friday. Stocks finished flat. The Nasdaq snapped its 11-day winning streak, but the Dow and S&P 500 eked out gains to notch record highs. For the week, the three indexes tacked on well more than half a percent.
RegentAtlantic co-head of investments, Andy Kapyrin:
SOUNDBITE: REGENTATLANTIC CO-HEAD OF INVESTMENTS, ANDY KAPYRIN (ENGLISH) SAYING:
"Most of the trading activity that does happen tends to be folks looking to put cash to work from year-end bonuses and such, trying to shore up their investment accounts. It's a good time to say spring-load your 401(k) contribution, and I think that's what we're seeing."
Shares of Michaels Companies skyrocketed after the retailer of arts and crafts supplies appointed a Walmart merchandising executive as its new CEO.
Investors continued to shop for more Amazon shares one day after the online retailer said customers shopped at record levels this holiday season.