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Wall Street Hits Historic Highs in Record Rally, But The Real Winner Gained 8,990,000

[color=rgba(0, 0, 0, 0.8)]For the first time ever, the Nasdaq composite index broke through the 9,000 thresholds on Thursday. While Nasdaq snapped its 11-day winning streak, the longest streak since 1997, after showing some weakness, S&P 500 and the Dow made record closing highs as well.

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With only two days left for the year, the benchmark S&P 500 climbed over 29% so far in 2019, its biggest annual percentage gain since 2013.[/size]

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All three major Wall Street indexes are posting record closing highs on the back of optimism over US-China trade relations and Amazon’s record-breaking holiday sales and a year-end stock-market rally.
The holiday sales figures revealed strong consumer activity and growing popularity in online shopping.
What’s behind this rally?
Shares of Amazon spiked 4.5% after a Mastercardreport showed that US shoppers spent more online during the holiday season than in 2018, with e-commerce sales making a record high.
“Billion of items were purchased,” said the e-commerce giant with “tens of millions of Amazon devices” bought worldwide. More than 5 million new customers started paid memberships or Prime free trials, the company said in a statement.
US-China’s cooling trade tension as Beijing said it is in close contact with Washington about an initial trade agreement has also been fueling the last leg of Wall Street’s record rally.
Also, a Labor Department report showed the number of Americans filing applications for unemployment benefits fell, a sign of ongoing labor market strength.