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US Stock Rose for Three Consecutive Days, Boosting the Market Before Christmas

Summary

On Thursday (December 23), the U.S. dollar index fell slightly, and concerns about the impact of the Omicron variant eased, supporting higher-risk currencies such as the Australian dollar and the British pound. The dollar index fell 0.08% to 96.03, still close to the 16-month high reached at the end of last month. Major U.S. stock indexes closed strongly for the third consecutive trading day on Thursday. The S&P 500 index hit a record closing high. Oil prices recorded three consecutive positives, setting a new high of nearly four weeks. Spot gold also rose slightly, closing at around 1808.8. Steady above the 1800 mark.

The major U.S. stock indexes closed strongly for the third consecutive trading day on Thursday. The S&P 500 hit a record closing high, closing at 4,725.79 points, an increase of about 0.62%. The encouraging latest news made investors worry about the economic impact of the Omicron variant. ease. On the last trading day of the week, the stock market had a positive tone, which boosted market sentiment on Christmas Day. The major sectors of the S&P 500 index rose generally, led by consumer discretionary stocks and industrial stocks, both rising about 1.2%. To celebrate Christmas, the stock market was closed on Friday.


For most of the last month of 2021, Omicron intensified market volatility, but the stock market has performed strongly this year. Matthew Miskin, co-chief investment strategist at John Hancock Investment Management, said: “There is a lot of negative sentiment at the end of this year, but investors may continue to see quite strong economic growth and quite positive developments around the new crown medical innovation, which will give the stock market a boost. Some buying came and led investors to consider allocating funds to the stock market before the end of the year." Defensive stocks that mostly outperformed the broader market in December generally underperformed on Thursday. Real estate stocks fell 0.4%. The S&P 500 index rose for three consecutive days, and fell in the previous three trading days. Robert Pavlik, senior portfolio manager at Dakota Wealth Management, said, “Today people see the market’s strength on Tuesday and Wednesday, and suddenly everyone becomes more optimistic again.”


Last week, the number of initial jobless claims in the United States remained below the pre-pandemic level, the labor market continued to tighten, and consumer spending grew strongly, making the U.S. economy expected to achieve a strong ending in 2021. Tesla soared 5.8%. The company's chief executive, Elon Musk, said on Wednesday that he has sold more than $15 billion worth of shares since early November and that the sale is "almost completed."


The S&P 500 Index has risen about 26% this year. However, as the Fed is expected to start raising interest rates in 2022, the stock market environment may change next year.


Risk Warning: The above content is for reference only, and does not represent JRFX’s position. JRFX does not assume any form of loss caused by any trading carried out in accordance with this article. Please consult your financial planner for your investment portfolios and manage your own risk.


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