New York: wall Street 2022 got off to a solid start on Monday with more record highs for the S&P 500 and doe Jones Industrial Average.
The S&P 500 closed up 0.6% and the Dow 0.7%. Both the indices hit record highs last Wednesday. The Nasdaq Composite gained 1.2%.
Technology stocks and a mix of retailers and other companies that rely on consumer spending took a substantial portion of the gains. Apple grew 2.5%, shying away from becoming the first company to hit a market capitalization of $3 trillion. It briefly traded above that level during the day.
Tesla jumped 13.5% for the biggest gainer in the S&P 500 after reporting strong delivery numbers for 2021.
There was a significant increase in bond yields. The yield on the 10-year Treasury rose to 1.64% from 1.51% on Friday. This helped increase shares in banks, which depend on higher returns, to charge more attractive interest on loans. Bank of America rose 3.8%.
The market’s solid start to 2022 is another banner year for stocks on Wall Street. The S&P 500 closed in 2021 with a gain of 26.9% or a total return of 28.7% including dividends. This is almost as much as the benchmark index gained in 2019.
The S&P 500’s latest milestone, following a record high of 70 posted last year, is a sign that investors remain bullish about stocks, following the recent COVID-19 cases in Omicron of the virus’ rapid spread. Despite the version and expectations of the Federal Reserve. Will start raising interest rates sometime this year to fight rising inflation.
“This has been going on for months and months. We have all-time highs and we keep hitting them,” said Randy Frederick, vice president of trading and derivatives at Charles Schwab. “While you still have a low interest rate environment, which we do, at least for now,[stocks]have a place to be.”
The S&P 500 closed 30.38 points higher at 4,796.56. The Dow closed up 246.76 points at 36,585.06. The Nasdaq closed 187.83 points higher at 15,832.80.
Shares of smaller companies also rose. The Russell 2000 rose 27.24 points, or 1.2%, to 2,272.56.
The major challenges to the economy and corporate profits that investors navigated in 2021 remain potential headwinds in the new year, including the viral pandemic. Wall Street has been busy monitoring the latest wave of Omicron-type cases since December.
Businesses and consumers still grapple with supply chain problems and ever-increasing inflation, which has made a wide range of goods more expensive. Rising costs could threaten to reduce consumer spending and undermine economic growth.
The long list of concerns made for a choppy end to 2021, but that didn’t stop the broader market from delivering strong annual gains for stock investors.
“Despite this increase in the Omicron virus, with the exception of the day after Thanksgiving, the S&P has not derailed,” Frederick said.
While strength in technology companies propelled the S&P 500 higher on Monday, the index declined as a number of stocks declined.
Health care companies fell broadly and held gains elsewhere in the market. Pfizer shed 4.1% despite news that the US has expanded its COVID-19 booster shots to children under the age of 12.
Industrial stocks also fell union pacific, a railroad operator, dropped 1.7%.
Investors have access to several important pieces of economic data during the first week of the new year. The Institute for Supply Management will update investors on the manufacturing sector on Tuesday and the services sector on Thursday.
The biggest event on the economic calendar this week is the Labor Department’s jobs report on Friday.
The S&P 500 closed up 0.6% and the Dow 0.7%. Both the indices hit record highs last Wednesday. The Nasdaq Composite gained 1.2%.
Technology stocks and a mix of retailers and other companies that rely on consumer spending took a substantial portion of the gains. Apple grew 2.5%, shying away from becoming the first company to hit a market capitalization of $3 trillion. It briefly traded above that level during the day.
Tesla jumped 13.5% for the biggest gainer in the S&P 500 after reporting strong delivery numbers for 2021.
There was a significant increase in bond yields. The yield on the 10-year Treasury rose to 1.64% from 1.51% on Friday. This helped increase shares in banks, which depend on higher returns, to charge more attractive interest on loans. Bank of America rose 3.8%.
The market’s solid start to 2022 is another banner year for stocks on Wall Street. The S&P 500 closed in 2021 with a gain of 26.9% or a total return of 28.7% including dividends. This is almost as much as the benchmark index gained in 2019.
The S&P 500’s latest milestone, following a record high of 70 posted last year, is a sign that investors remain bullish about stocks, following the recent COVID-19 cases in Omicron of the virus’ rapid spread. Despite the version and expectations of the Federal Reserve. Will start raising interest rates sometime this year to fight rising inflation.
“This has been going on for months and months. We have all-time highs and we keep hitting them,” said Randy Frederick, vice president of trading and derivatives at Charles Schwab. “While you still have a low interest rate environment, which we do, at least for now,[stocks]have a place to be.”
The S&P 500 closed 30.38 points higher at 4,796.56. The Dow closed up 246.76 points at 36,585.06. The Nasdaq closed 187.83 points higher at 15,832.80.
Shares of smaller companies also rose. The Russell 2000 rose 27.24 points, or 1.2%, to 2,272.56.
The major challenges to the economy and corporate profits that investors navigated in 2021 remain potential headwinds in the new year, including the viral pandemic. Wall Street has been busy monitoring the latest wave of Omicron-type cases since December.
Businesses and consumers still grapple with supply chain problems and ever-increasing inflation, which has made a wide range of goods more expensive. Rising costs could threaten to reduce consumer spending and undermine economic growth.
The long list of concerns made for a choppy end to 2021, but that didn’t stop the broader market from delivering strong annual gains for stock investors.
“Despite this increase in the Omicron virus, with the exception of the day after Thanksgiving, the S&P has not derailed,” Frederick said.
While strength in technology companies propelled the S&P 500 higher on Monday, the index declined as a number of stocks declined.
Health care companies fell broadly and held gains elsewhere in the market. Pfizer shed 4.1% despite news that the US has expanded its COVID-19 booster shots to children under the age of 12.
Industrial stocks also fell union pacific, a railroad operator, dropped 1.7%.
Investors have access to several important pieces of economic data during the first week of the new year. The Institute for Supply Management will update investors on the manufacturing sector on Tuesday and the services sector on Thursday.
The biggest event on the economic calendar this week is the Labor Department’s jobs report on Friday.
,