Adviser Investments’ Chief Investment Officer Jim Lowell has the market analysis for Friday, December 21. Major U.S. stockA financial instrument giving the holder a proportion of the ownership and earnings of a company. indexes declined for the third consecutive day, with the Dow Jones Industrial Average, S&P 500 and NASDAQ down 1.9%, 2.1% and 3.0%, respectively. Jim emphasizes that despite ongoing investor concern, economic fundamentals continue to provide “solid footing underneath what remains a very nervous marketplace.” Meanwhile, the Commerce Department released updated consumer spending data, revealing that spending topped expectations with November’s 0.4% gain. Similarly, durable goods orders climbed 0.8% last month, reversing October’s steep 4.3% decline.
