Stocks' rise lifts Nasdaq to new record high; Dow nears

20,000
Markets are moving toward 20,000 and bond yields are up; there's a little bit of buoyancy in oil
prices, said Erik Davidson, chief investment officer at Wells Fargo Private Bank. The FDA approved
the drug, Spinraza, late Friday. But, Davidson said, trading is very, very thin.
The Dow edged up 11.23 points, or 0.1%, to 19,945.04. The Standard & Poor's 500 index rose 5.09
points, or 0.2%, to 2,268.88. Germany's DAX and Frances CAC 40 each rose 0.2%. Markets were
closed Monday for the holiday.
This $1,499 gadget hopes to do for tea what Keurig did for coffee
4:05 p.m.: This article was updated with closing prices, context and analyst comments.
In currency trading, the dollar rose to 117.45 yen from 117.26. That's the lightest full day of trading
since October 2015.
This article was originally published at 6:50 a.m.
http://www.latimes.com/business/realestate/la-fi-markets-20161227-story.html

Traders also gave a boost to other technology stocks, including Fitbit, which climbed 7.4% to $7.83
after the San Francisco companys fitness tracker app became the second-most downloaded in the
iTunes store.
Benchmark U.S. The tech-heavy Nasdaq climbed 24.75 points, or 0.5%, to 5,487.44; its previous
record high was 5,483 on Dec. Wholesale gasoline rose 3 cents to $1.65 a gallon, and heating oil
rose 4 cents to $1.70 a gallon.

Read more: Southern California home prices keep rising, and sales jump
Biogen rose 1.2% to $291.12, and Ionis Pharmaceuticals jumped 3.2% to $55.12 on news that the
FDA approved a treatment for spinal muscular atrophy, a rare genetic disorder. Silver rose 23 cents
to $15.99 an ounce. Tokyo's Nikkei 225 was nearly flat. Here's what they're thinking so far
Several markets overseas closed slightly higher. The Santa Clara chipmaker surged 6.9% to
$117.32.
Endologix plunged 26.7% to $5.27 after the Irvine drugmaker said that the Food and Drug
Administration has ordered it to cease shipping a device used to treat abdominal aortic aneurysms
because of manufacturing problems. Markets in Britain, Hong Kong and Australia were closed.

Natural gas futures rose 10 cents, or 2.7%, to $3.76 per 1,000 cubic feet. Brent crude, used to price
international oils, rose 93 cents, or 1.7%, to $56.09 a barrel.
The Conference Board said its consumer confidence index climbed to 113.7 in December, up from
109.4 in November and the highest since it reached 114 in August 2001. PulteGroup rose 1.3% to
$18.62.
Republicans plan to overhaul the tax system. The Kospi of South Korea rose 0.2%, while India's
Sensex gained 0.8%. The euro fell to $1.0458 from $1.0452.
Materials and technology companies led U.S. D.R. The latest reading is another sign consumers are
confident in the aftermath of a divisive presidential election.
A day of quiet trading on Wall Street ended Tuesday with the Dow Jones industrial average inching
closer to 20,000 and a record high for the Nasdaq composite.
UPDATES:
Although little new major economic or company data are expected this week as 2016 winds to a
close, investors did get some fresh figures on consumer confidence and home prices Tuesday.
Several homebuilders posted gains after the reports on home prices and consumer confidence,
which bode well for home sales. Copper rose 4 cents to $2.52 a pound.
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Some drug companies also made big moves.
Bond prices fell. Energy companies rose as the price of crude oil moved higher. Horton advanced
1.3% to $27.93. The company said the problem affects some sizes of its AFX Endovascular AAA
system only and that no clinical problems have been reported.. The yield on the 10-year Treasury
note rose to 2.56% from 2.54% late Friday. stocks slightly higher overall. Utilities and phone
company stocks edged lower.
Trading was light after the long Christmas weekend, with fewer than 1.9 billion shares traded on the
New York Stock Exchange. Small-company stocks are up even more. Lennar led the pack, climbing
1.9% to $43.36. Bank.
Read more: From basic research to saving lives: the Spinraza story
The time is right to buy a used car
7:50 a.m.:This article was updated with market prices and Indy Homes context.
The price of gold rose $5.20 to $1,138.80 an ounce. The S&P 500 is on track for an 11% gain, while
the Nasdaq is headed for a 9.6% gain. crude rose 88 cents, or 1.7%, to $53.90 a barrel. The Russell
2000 is up 21% so far this year.
Nvidia posted the biggest gain in the S&P 500 index. Biogen is handling marketing for the drug,
which was developed by Carlsbad-based Ionis.

1:20 p.m.: This article was updated with the close of markets.
Meanwhile, the Standard & Poor's CoreLogic Case-Shiller national home price index rose 5.6% in
October, as buyers bidding for scarce properties drove home prices higher.
The three major indexes are on pace for solid gains for 2016, led by the Dow, which is up 14.5%. 20.
The tone to the data was certainly positive and speaks to underscore why we'd have a little bit of a
bid to the market this afternoon, said Bill Northey, chief investment officer of the Private Client
Group at U.S