U.S. inventory benchmarks flipped between small positive factors and losses early Monday, kicking off the primary day of buying and selling in 2022 on a tentative observe. Amongst shares on the transfer, shares of Tesla surged after record-breaking quarterly gross sales.
How are stock-index futures buying and selling?
The S&P 500 index
was down 1.69 factors, or lower than 0.1%, at 4,764.59.
The Dow Jones Industrial Common
was up 26.62 factors, or 0.1%, to 36,364.92.
The Nasdaq Composite Index
was up 25.52 factors, or 0.2%, at 15,670.50.
Stocks fell Friday on the final buying and selling day of 2021. For final yr, the S&P 500 soared 26.9%, beating each the Nasdaq’s 21.4% rise and the Dow’s 18.7% climb.
What’s driving the inventory market?
Shares headed larger to begin 2022, regardless of numerous issues, together with the surge in COVID-19 instances spurred by the fast unfold of the omicron coronavirus variant and the probability of a number of interest-rate hikes by the Federal Reserve, anticipated later this yr.
“The omicron variant is spreading like wildfire however hospitalizations stay underneath management and most governments appear cautious of going again to lockdowns, feeding optimism that this wave gained’t inflict a lot harm on the worldwide financial system,” mentioned Marios Hadjikyriacos, senior funding analyst at XM, in a observe to purchasers.
Journey chaos was greeting the start of the year, with greater than 2,600 U.S. flights canceled on Sunday, amid winter storms and shortages of employees as a result of fast-spreading omicron variant. Federal workplaces have been additionally shut in Washington, D.C., as winter climate bore down on the mid-Atlantic.
The ultimate studying of the IHS Markit buying managers index for manufacturing edged all the way down to 57.7 from an preliminary studying of 57.8. Financial information on faucet later this week will embrace Friday’s employment report, and the minutes of the most recent Federal Open Market Committee assembly due midweek.
Which firms are in focus?
- Shares of Tesla TSLA jumped 10%, after the electric-vehicle maker delivered more than 308,000 vehicles within the fourth quarter, blowing away analysts’ expectations. Deliveries surged about 87% in 2021.
How are different property buying and selling?
The yield on the 10-year Treasury observe
was buying and selling round 1.593%, up greater than 8 foundation factors. Yields and debt costs transfer reverse one another.
The ICE U.S. Greenback Index
a measure of the forex in opposition to a basket of six main rivals, rose 0.1%.
Oil futures gave up an early achieve, with West Texas Intermediate crude for February supply
edging down 0.1%.
for February supply
fell 1.1%, after 2021 marked the fastest annual fall since 2015.
was down 0.9%.
The Stoxx Europe 600
A number of Asian markets have been closed for holidays. The Grasp Seng Index
fell 0.5% and the Korea KOSPI
Mike Murphy contributed to this text