briefing.com wrap -- 28-Dec-20 14:55 ET
Safe trading at year end
Dow +242.72 at 30442.53, Nasdaq +119.39 at 12924.13, S&P +36.18 at 3739.24
[BRIEFING.COM] The S&P 500 (+1.0%) continues to be carried higher by its mega-cap components.
Again, there's no specific corporate news driving these stocks higher,
but it's worth taking a look at volume traded for the mega-caps.
Apple (AAPL 136.74, +4.76, +3.6%) and Facebook (FB 275.92, +8.52, +3.2%) are trading slightly below their daily average volume, Amazon (AMZN 3296.18, +123.46, +3.9%) has matched its daily average volume, and Alphabet (GOOG 1780.98, +42.13, +2.4%) is about half-way of its daily average volume.
The number of shares traded today isn't eye-popping. This suggests tactical, year-end trading in some of the "safer" stocks in the market.
Put another way, this is an offensive strategy to "hedge" against something unexpected that could take the market lower.
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