S&P hits record even as airline stocks tumble
Expert’s 2022 market outlook
Adviser Investments CIO Jim Lowell discusses his market outlook for 2022 and what impact the omicron variant will have on the economy.
U.S. stocks kicked off the final trading week of the year higher with the S&P 500 hitting a new record high, rising 0.5%.
The Nasdaq Composite also ticked higher by the same amount, and the Dow Jones Industrial Average rose over 122 points or 0.4%.
|I:COMP||NASDAQ COMPOSITE INDEX||15723.024153||+69.65||+0.45%|
Exchange-traded funds that track the S&P also got a lift.
|SPY||SPDR S&P 500 ETF||473.08||+2.53||+0.54%|
|IVV||ISHARES TRUST CORE S&P 500 ETF||475.16||+2.58||+0.55%|
|VOO||VANGUARD INDEX FUNDS S&P 500 ETF SHS||434.93||+2.30||+0.53%|
The major averages rose despite shares of airlines being under pressure as reports mount over hundreds of weekend cancellations even as travel rebounded with more than 2 million hitting the skies in a pandemic rebound.
|DAL||DELTA AIR LINES INC.||38.53||-0.78||-1.98%|
|AAL||AMERICAN AIRLINES GROUP INC.||17.81||-0.45||-2.48%|
|LUV||SOUTHWEST AIRLINES CO.||41.14||-0.72||-1.73%|
|UAL||UNITED AIRLINES HOLDINGS INC.||43.92||-0.95||-2.12%|
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GoDaddy shares rose after activist firm Starboard disclosed a 6.5% stake in the company.
Sony and Disney's Marvel are in focus after "Spiderman: No Way Home" ticket sales crossed $1 billion at the worldwide box office, a pandemic record.
|SONY||SONY GROUP CORP.||125.90||+2.02||+1.63%|
|DIS||THE WALT DISNEY CO.||152.50||-1.11||-0.73%|
Investors continue to monitor Apple, which is close to becoming the first company valued at $3 trillion. Shares need to cross and close above $182.85 to mark the milestone. Microsoft is right behind with a market value of $2.5 trillion.
In commodities, oil was little changed at the $73 per barrel level, while gold hovered at $1,809 an ounce.
|USO||UNITED STATES OIL FUND L.P.||52.96||-0.17||-0.32%|
|GLD||SPDR GOLD SHARES TRUST – EUR ACC||168.96||-0.03||-0.02%|
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