Stock futures are flat after Dow and S&P 500 close at records

Stock futures are flat after Dow and S&P 500 close at records


Merchants work on the ground of the New York Inventory Trade (NYSE) in New York, on Monday, Jan. 3, 2022.

Michael Nagle | Bloomberg | Getty Photos

U.S. inventory futures have been regular in in a single day buying and selling on Monday after the Dow Jones Industrial Common and S&P 500 notched new file closes on the primary buying and selling day of 2022.

Dow futures fell simply 20 factors. S&P 500 futures slid 0.05% and Nasdaq 100 futures rose 0.05%.

On Monday, the main averages rose, lifted by the expertise sector. The Dow Jones Industrial Common added 246 factors to shut at a file. The S&P 500 additionally registered a acquire, climbing 0.6% to shut at an all-time excessive.

The Nasdaq Composite was the relative outperformer, gaining 1.2% as Meta Platforms, Amazon and Google-parent Alphabet all closed within the inexperienced.

Tesla and Apple have been brilliant spots of the buying and selling day Monday. Tesla added 13.5% after the agency beat fourth-quarter and full-year supply expectations. Apple grew to become the primary ever $3 trillion market capitalization firm after rising 2.5% to a brand new file.

Reopening performs like airways and cruise traces additionally rose on Monday. A leap in bond yields lifted financial institution shares.

“Optimism on international financial progress and earnings momentum reviving since mid-December continued to develop within the first day of the New Yr,” mentioned Jim Paulsen, Leuthold Group chief funding strategist. “These shares most carefully tied to higher financial progress did the most effective [Monday] however have been joined by new-era sectors together with expertise and communications.”     

On Tuesday, November’s Job Openings and Labor Turnover Survey will likely be launched at 10:00 a.m. The JOLTS report is carefully watched on the Federal Reserve and elsewhere for indicators of labor market tightness.

December’s ISM manufacturing PMI can be set to launch Tuesday morning.

Monday’s data strikes come after markets closed out a robust 2021 final week. The S&P 500 rose almost 27% for the yr, with the Nasdaq Composite and Dow additionally posting sturdy positive factors.

“The well-known Santa Claus Rally ends on Tuesday. The excellent news is shares seem like they will be larger throughout these bullish 7 days,” mentioned Ryan Detrick of LPL Monetary. “It’s when today have been down when we have to fear, in order that’s one much less fear no less than.”

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