S&P 500 Hits New High After Return From Holiday

Dow was up 352 points
By Newser Editors and Wire Services
Posted Dec 27, 2021 4:11 PM CST
S&P 500 Hits New High After Return From Holiday
A giant Christmas tree is erected outside the New York Stock Exchange.   (AP Photo/John Minchillo)

Stocks made steady gains on Wall Street Monday, enough to mark another record high for the S&P 500 index. Trading was muted as investors returned from the Christmas holiday and several overseas markets remained closed. The S&P 500 climbed 1.4%, led by more gains in big technology companies like Apple, Microsoft, and Nvidia. Energy companies also did well as prices for crude oil and natural gas rose. European markets mostly rose, but London’s was closed for a holiday. In Asia, Hong Kong’s market was also closed and Japan’s market ended slightly lower. The yield on the 10-year Treasury note edged down to 1.48%. The S&P 500 rose 65.40 points, or 1.4%, to 4,791.19. The Dow Jones Industrial Average rose 351.82 points, or 1%, to 36,302.38. The Nasdaq rose 217.89 points, or 1.4%, to 15,871.26.

Trading is expected to be quiet, but potentially volatile, this week as the omicron coronavirus variant continues to spread quickly throughout the US and overseas, the AP reports. However most big investors have closed out their positions for 2021, and are like to hold their ground until next week. Hundreds of flights were cancelled in the US over the holiday weekend, with airlines reporting COVID-related staffing problems. Airline stocks were down on the news, with Delta Air Lines and United Airlines falling roughly 1%. Shares in cruise line operators also fell. Norwegian Cruise Line slid 2.6% for the biggest drop in the S&P 500. Carnival and Royal Caribbean slipped more than 1%.

(More stock market stories.)

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