Stocks closed out 2020 at record highs.
The S&P 500 ended the year at an all-time closing high, securing a gain of just over 16% for the year, or 18% with reinvested dividends. This marked a back-to-back year of double-digit gains for the blue-chip index, after it advanced by nearly 29% in 2019.
The newest entrant to the S&P 500 was also the best performer in the index. Tesla (TSLA), added to the S&P 500 in mid-December, closed out 2020 with a jump of about 740%, followed by Etsy (ETSY) with a gain of 300%. Meanwhile