Market Insider

As markets close at new records, focus shifts to consumers

Traders on the floor of the New York Stock Exchange.
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Some traders are convinced the stock market is on auto-pilot, poised to move higher into the year-end, and the week ahead may provide more proof of that.

That's not to say the market isn't feeling a bit toppy. The Dow and S&P 500 ended Friday at record highs, both closing in on big, round numbers: 1,800 on the S&P and 16,000 on the Dow. The Nasdaq too was within reach of 4,000, a level it hasn't achieved in 13 years.

The S&P closed out a sixth week of gains, up 1.5 percent to 1,798, its longest winning streak since February. Those big round numbers could be a draw, attracting investors who have lost out on the market's gains and keeping others who aren't ready to take profits.