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U.S. Stocks Set Another Record, Travel Stocks Underperformed

Summary

On Monday (December 27), the U.S. dollar weakened against most G-10 currencies, and high-risk currencies such as the British pound rose the most. Spot gold hit a new high of 1813.48 US dollars per ounce since December 17. Analysts said that future inflation factors will bring support to gold prices. With the improvement of market risk sentiment, oil distribution rose by more than 4%, hitting a new high of US$78.68 per barrel since November 26. The flow data during the holiday period remained strong, which promoted a rebound in oil demand.

The U.S. stock market rose for the fourth consecutive day in light trading, and investors assessed the prospects for the year-end rally amid a surge in coronavirus cases. The S&P 500 Index closed near its mid-day high on Monday, setting a record for its 69th close in 2021. All major industry sectors closed higher. The Nasdaq 100 index rose 1.6%, outperforming other benchmark indexes.


Victoria Greene, founding partner and chief investment officer of G Squared Private Wealth, said that we like this, we like to see the Christmas rally continue, and I don’t think we should underestimate the stock market’s ability to overcome worries. The annual Christmas market kicks off on Monday. According to The Stock Trader’s Almanac, since 1969, the S&P 500 has gained an average of 1.3% in the last five trading days of the year and two trading days before the new year. Travel stocks underperformed the market. The cancellation of flights over the Christmas weekend continued until Monday. When airlines were already understaffed due to the surge in Covid-19 cases, the winter storm made them worse. JPMorgan Chase strategists said that there is no reason to worry that this year's U.S. stock market's record-breaking rally will soon end. In fact, more investors may join soon.


①On Monday (December 27), my country's November profit of industrial enterprises above designated size and the Bank of Japan announced a summary of the opinions of the review committees of the December monetary policy meeting.

②Tuesday (December 28), Japan’s November unemployment rate, US October FHFA house price index, US November wholesale inventory monthly rate, US November seasonally adjusted existing home contracted sales index, US API for the week ending December 24 And changes in EIA crude oil inventories.

③Wednesday (December 29), Switzerland December Credit Suisse/CFA Economic Expectation Index,.

④On Thursday (December 30), Singapore’s total fuel inventory for the week ended December 29, the number of unemployment claims in the United States for the week ended December 25, the Chicago PMI in December, and the European Central Bank announced the economic bulletin.

⑤Friday (December 31), China's official manufacturing PMI in December.


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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