The S&P 500 has three trading days remaining in the year. It is currently on pace to increase its share of more than 27% by 2021. This would be the market’s best performance since 2019, another record year.
As of 11:15 Eastern, the S&P 500 had risen 0.1%. The Dow Jones Industrial Average was 0.1% higher and the Nasdaq 0.1% lower.
Technology companies once again lifted the wider market thanks to Western Digital, which saw a 6.6% increase in storage solutions. Seagate Technology, Micron Technology also saw an increase of around 2%.
Retailers and companies that depend on consumer spending were among the best performers in the Christmas holiday shopping season. Target, Nike and Kroger were all up 1.5% or higher.
In the past few weeks, investors have grown more comfortable with the omicron coronavirus variant. This virus is less serious and causes less hospitalizations than other variants.
Many things remain unknown about omicron. It is rapidly spreading and is causing pandemics in certain areas. This variant is rapidly becoming the dominant strain in the world.
Although travel restrictions and virus-related lockdowns remain a concern, the majority of big investors have already closed their positions for 2021. They are expected to continue their position until next week. This week’s trading has been slow with less than 3 Billion shares being traded on the New York Stock Exchange in the last two days compared to the 4.5 Billion shares that are typically purchased and sold each day.
In the last days of 2021, bond yields moved higher. The 10-year Treasury note yield was 1.52%, compared to 1.48% the previous day.
The benchmark U.S. crude oil price fell 13 cents per barrel to $75.79 per barrel. Oil prices are expected to rise 56% by the end of the year.
