markets

Traders and investors were waiting to read the minutes of the December 14-15 FOMC meeting – and were surprised by the following:

In light of elevated inflation pressures and the strengthening labor market, participants judged that the increase in policy accommodation provided by the ongoing pace of net asset purchases was no longer necessary. They remarked that a quicker conclusion of net asset purchases would better position the Committee to set policy to address the full range of plausible economic outcomes. Participants judged that it would be appropriate to double the pace of the ongoing reduction in net asset purchases. Such a change would result in reducing the monthly pace of net purchases of Treasury securities by $20 billion and of agency MBS by $10 billion starting in January. Participants also expected that economic conditions would evolve in a manner such that similar reductions in the pace of net asset purchases would be appropriate each subsequent month, resulting in an end to net asset purchases in mid-March, a few months sooner than participants had anticipated at the November FOMC meeting.

This threw a wrench into the market outlook with the DOW sliding 1.1%, NASDAQ off 3.3% and the S&P down 1.9%. And Bitcoin fell to $44,214.

As usual, we have included below the headlines and news summaries moving the markets today.

Surging sugar stocks sweeten the rally as the DOW closes up 215 points and books 2nd record close of 2022, but tech stocks get whacked. DOW is knocking on the door of a milestone at 37,000 early in 2022 – stay tuned. Nasdaq down 1.3% and the S&P 500 slipped 0.06%.

For a while, it appeared that stocks, especially giga-techs, were willing to ignore the plummeting in Treasuries and were riding the wave of new capital, some $125 billion, according to Goldman.

In other news, China has considerably reduced the allowances for fuel exports by 56% in the first export quota batch for 2022, signaling its intention to limit fuel sales abroad and curb excessive refinery output.

Stocks rise to kick off the new year of trading near record levels. Nasdaq lead the three major stock indexes higher in 2022’s first session, with Tesla and Ford’s shares rallying.
Bonds & bullion battered as big-tech takes off to start the new year

Apple reaches a $3 trillion market cap, and Tesla reported record vehicle deliveries for 2021. However, Ford beat out Tesla as the auto industry’s top growth stock in 2021.
DOW closes up 247 points, NASDAQ up 1.2%, S&P 500 up 0.6%, Tesla jumps 13% and Apple’s stock price surged 3%.

Stocks are higher on the first trading day of 2022 amid travel chaos. However, airline stocks surge despite thousands of holiday flight cancellations as Americans head to the road as air travel appears to be only getting worse. Sunday, 2,600 U.S. airline flights were canceled due to inclement weather and lack of crews.

The Santa Claus rally may have been stopped in its tracks, but 2021 was good for traders and investors with the S&P gaining over 26% on the year. This despite a rough year with constant labor shortages, screwed up supply chains, surprise inflation – not to mention the mother of all COVID surges.

For the final day of the year, the S&P closed down 0.4%, the DOW down 0.2%, and the NASDAQ off 0.6%. WTI crude closed down today at $75.52. Gold up at $1,830. Bitcoin fell to $45,890.

The staff and crew at econcurrents.com wish our readers a safe and rewarding 2022.

As usual, we have included below the headlines and news summaries moving the markets today.

The three major indexes rose to new historic highs at the opening after a better than anticipated job report. Then towards the closing bell investors began to jump ship with one day remaining this week. A flurry of investors decided to record their 2021 losses while they can.

U.S. Treasury yields retreated across the board late Thursday, marking the largest daily drop in about a week. Investors parsed data to cap the final days of 2021 amid signs that the impact of the omicron variant on the economy is muted.

U.S. oil ends near $77, adding to 5-week climb settling higher Thursday as fading concerns about the impact on the economy from the omicron variant of the coronavirus and signs of falling inventories helped to support year-end buying.

After besting the past two sessions, the DOW and the S&P 500 ran out of steam at the closing bell. These indexes traded mostly sideways, just below the previous high record marks. The S&P 500 went negative during the first hour and again at noon. Both indexes ended up mixed, with the DOW closing up 90 points and the S&P 500 0.1% in the red. The DOW made its all-time high on a boost from retailers Home Depot and Nike.

The question now is this the Santa Clause rally we were hoping to see? There are two more trading days this week, and we may see more action of the positive kind. However, more than likely, this is all the fireworks the markets have in store for 2021. In addition, traders might be surprised they won’t be getting vacation time on Friday for New Year’s this year due to an obscure regulation called NYSE Rule 7.2.

Gold ends lower, but an intraday rally shrunk the losses and pushed the metal back above $1,804.

Western Digital’s stock surges to pace the S&P 500’s winners after rival Samsung has to ‘adjust.’ U.S. oil ends back at a 5-week high $76.47 as EIA data show a weekly crude drop of 3.6 million barrels

This Bull market heads into New Year on a shaky foundation and Investors need to be braced for the test of nerves in 2022, and a lot needs to fall into place for equities to post double-digit returns for the fourth year in a row.

It Is hard to ignore a pandemic when 2,800 flights were cancelled over the Christmas weekend plus Monday – and global COVID new cases have surged into record territory. Travel related stocks were the losers today.

Another loser today was Bitcoin which declined to $47,800.

Interestingly, history shows that the Santa Claus rally historically appears 77% of the time during the last week of trading during the year plus the first few days of the New Year.

The S&P closed down 0.2%, the DOW up 0.3%, and the NASDAQ off 0.6%. WTI crude closed up today at $76.08.

As usual, we have included the headlines and news summaries moving the markets today.

The bulls seemingly annual Santa Claus rally pushed the markets with the S&P hitting new highs in early trading today. The markets seemingly are ignoring:

• high inflation;
• and the Omicron COVID variant’s record level new infections.

The good news about Omicron is that it is becoming more apparent that it is a milder form of COVID. However, hospitalizations continue to rise, and over 2,000 flights were cancelled globally due to Omicron hitting flight crews.

Trading volumes were light. The S&P closed up 1.4%, the DOW up 1.0 % and the NASDAQ up 1.4%. Bitcoin surged to almost $51,200. WTI Crude drifted down to $72.91.

As usual, we have included the headlines and news summaries moving the markets today.

S&P 500 sweeps to a new record high and then falls off sharply at the close. The S&P 500 recorded its 68th record high this year, optimism that the omicron variant of COVID won’t derail global economies.

Wall Street stocks end higher for 3rd day in the final session before Christmas.

U.S. stocks book a third straight gain Thursday, with EV stocks soaring on hype in 2021 — investors are betting 2022 will bring actual revenue. Nikola shares surge 20% after the company delivers its first EV truck.

Oil prices have risen back to the mid-$70s this week due to tighter U.S. crude inventories and a force majeure on Libyan crude oil exports, Friday, December 23rd, 2021. In addition, the number of active drilling rigs in the United States last week rose by 7, bringing the total to 586 as oil prices remain relatively strong despite the fresh wave of Covid-19 cases brought by the new variant of the coronavirus.

Wall Street is closed on Christmas, and there’s no New Year’s Day holiday for the stock market this year.

Wall Street opened mixed this morning as Omicron investor fears linger; ‘Santa Claus rally’ may not happen. But, unfortunately, history says that if Santa Claus doesn’t come to Wall Street in December, the Grinch will visit the stock market in January and raise hell.

The market opened mostly flat but rebounded for a second day from omicron’s sell-off and gained upward throughout the trading session by improving consumer confidence and gross domestic product growth.

U.S. oil prices made gains on Wednesday after investors cheered positive economic data. WTI settled at 72.89, gold higher 1804, but stopped at its resistance. In addition, the White House said it was resuming talks on a major social spending bill with a senator crucial to passing the legislation. Crude oil prices recovered on Wednesday morning despite word from the Energy Information Administration of an inventory draw of 4.7 million barrels for the week to December 17.

According to the International Energy Agency (IEA), coal production may hit an all-time high despite curbing production across several countries and aims for decarbonization following COP26.

Another day, another buying-panic at the cash open in U.S. equities. Nevertheless, the DOW managed to ‘get back to even’ on the week, and Nasdaq and Small Caps led the week up over 2%. Tesla Inc. is once again worth $1 trillion after Chief Executive Elon Musk said he had completed selling shares.