U.S. stocks on Tuesday closed 2013 at records, with the S&P 500 posting its largest annual jump in 16 years and the Dow its biggest gain in 18, after positive reports on consumer confidence and housing boosted sentiment on the final trading day of the year.
"It's been a great year, if you look at it from what the prevailing sentiment was at the beginning of the year, it has surpassed even the most bullish of predictions. It's the type of year you want to savor, there's been a nice wealth effect that has warmed people's portfolios," said Matthew Kaufler, portfolio manager at Federated Investors.
"Between the rise in the markets as well as the rebound in housing prices, this year went a long way in repairing consumer balance sheets," he added.
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Hertz Global Holdings rose a day after the car-rental company said it had adopted a one-year shareholder rights plan after "unusual and substantial activity" in its shares. Phillips 66 gained after saying Berkshire Hathaway would exchange about $1.4 billion in shares to acquire a unit that produces chemicals to improve pipeline flow. Marvell Technology Group surged after private-equity firm KKR & Co. said in a regulatory filing that it held a 6.8 percent stake in the chip manufacturer.