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TheStreet Open House

Stocks Book All-Time Highs on Final Day of Sparkling 2013

NEW YORK (TheStreet) -- U.S. stocks booked gains on the final day of 2013, a year in which the S&P 500 soared 29.6%, the most since 1997.

The S&P 500 closed up 0.4% to 1,848.36. The Dow Jones Industrial Average rose 0.44%, to 16,576.66. The Nasdaq added 0.54% to 4,176.59. Following the S&P's record gains, the Dow surged 28.1% and the Nasdaq popped 41.1% in 2013.

The S&P Case-Shiller home price index showed home prices across 20 metropolitan U.S. areas in October rose 13.6% from a year earlier. Economists surveyed by Bloomberg were expecting a 13.5% rise. The Institute for Supply Management reported that its December business conditions index for the Chicago area hit 59.1, vs. a 60.8 forecast.

The Conference Board reported December consumer confidence surged to 78.1, up from a prior reading of 70.4. Economists predicted a rise to 76.0.

"That's a huge number," Darrell Cronk, regional chief investment officer for Wells Fargo Private Bank, said in a phone interview from New York. "It's a good way to close out the year."

The S&P 500 has risen 29% during 2013, and with light volumes expected to conclude the final trading day as most firms are squaring away their portfolios for the year.

In company news, Netflix  (NFLX - Get Report) revealed late Monday in a filing with the Securities and Exchange Commission that CEO Reed Hastings received $5.3 million from selling stock right after Christmas. The company also announced its so-called poison pill -- a plan to make activist shareholder takeovers more expensive -- would end Tuesday, which was two years ahead of schedule. Shares added 0.32% to $368.17.

Hertz  (HTZ - Get Report) popped after it adopted a one-year shareholder rights plan to prevent outside investors from gaining control of the car rental company. Shares surged 10.5% to $28.62.

Shares of Phillips 66  (PSX - Get Report) rose after Berkshire Hathaway  (BRK.B - Get Report) said it would swap $1.4 billion of shares in the energy company to fully acquire its pipeline services arm. Shares settled up 3.2% to $77.13.

-- Written by Joe Deaux in New York.

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SYM TRADE IT LAST %CHG
BRK.B $143.72 0.48%
HTZ $20.82 0.95%
NFLX $414.82 -0.82%
PSX $77.60 -1.10%
AAPL $123.25 -0.80%

Markets

DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

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