The stock market rally to start 2019 is one for the history books - Recent News from USA
Traders work on the floor of the New York Stock Exchange.

The stock market rally to start 2019 is one for the history books

The roaring rebound for stocks this year is about to make history.

Both the Dow Jones Industrial Average and Nasdaq Composite Index have yet to register a weekly decline so far this year. With more gains this week, both major indices are on a nine-week winning streak that started in the last week of the year.

This would mark the first time since 1964 that the Dow has rallied in each of the first eight weeks to kick off the year. The previous back-to-back week record was hit in 1964, when the Dow rose in all of the first 11 weeks through mid-March. Throughout those weeks, the Dow jumped 7 percent which was about half of its 14.6 gain for that year. Total, the Dow saw a 13-week winning streak that started in the last two weeks of 1963.

For the tech-heavy Nasdaq though, this marks the first time in history the index has risen in each of the first 8 weeks of the year. The index was founded in 1971.

The gains come after the worst December for stocks since the Great Depression. Since then, stocks have more than rebounded into the black.

The Dow has rallied 11 percent this year. On Friday, the 30-stock index broke above 26,000 for the first time since Nov. 9. The Nasdaq is up 13 percent this year and rallied 0.64 percent Friday, boosted by shares of Facebook, Amazon, Netflix and Alphabet. Equities have been helped by optimism on another round of trade talks between the U.S. and China and signals from the Federal Reserve that it will be patient in raising interest rates.

Fred Imbert
contributed reporting.

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