Dow adds 95 points, S&P, Nasdaq slip
Home Prices Jumped 18.4% Annually in October: Case-Shiller
U.S. stocks eased from record highs as investors wind down the final trading days of the year.
|I:DJI||DOW JONES AVERAGES||32237.53||+132.28||+0.41%|
|I:COMP||NASDAQ COMPOSITE INDEX||11823.960139||+36.56||+0.31%|
The S&P 500, which hit a fresh record earlier in the day, pulled back by 0.1%, as did the Nasdaq Composite which fell 0.5%. The Dow Jones Industrial Average gained over 95 points or 0.26% led by Disney and Boeing.
|DIS||THE WALT DISNEY CO.||94.09||-1.68||-1.75%|
|BA||THE BOEING CO.||197.53||-0.37||-0.19%|
In economic data, the Case-Shiller Index rose 18.4%, the fifth-largest annual gain on record, with Phoenix, Tampa and Miami registering the biggest home price increases.
Although oil crossed above the $76 per barrel level, energy stocks ended the session lower.
THE CASE FOR $100 OIL IN 2022: PHIL FLYNN
|USO||UNITED STATES OIL FUND L.P.||60.98||+0.01||+0.02%|
|XOM||EXXON MOBIL CORP.||103.53||+0.12||+0.12%|
Apple remains on the radar as it nears the $3 trillion in market value, the milestone would be a first for a U.S. company. Microsoft is the second company in the running to join the club.
Separately, the retailer also announced New York City stores would operate with reduced services due to omicron.
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Tesla got a bullish nod from Wedbush analyst Dan Ives. "Tesla is in a clear position of strength heading into 2022 with an inflection point year ahead," he wrote adding the stock could rise as high as $1,800. Still, shares ended the session lower.
Other electric-vehicle makers dipped.
|LCID||LUCID GROUP INC.||8.19||0.00||0.00%|
Software maker F5 rose after Needham analysts coined the stock the "single best idea" for the coming year.
Shares of Coinbase and related crypto currency exchange-traded funds were under pressure as Bitcoin fell back below the $50,000 level.
|COIN||COINBASE GLOBAL INC.||67.83||+1.53||+2.31%|
|BITO||PROSHARES TRUST BITCOIN STRATEGY ETF||17.16||-0.42||-2.39%|
|BITQ||EXCHANGE TRADED CONCEPTS TRUST BITWISE CRYPTO INNOVATORS E||5.35||-0.19||-3.43%|
Ethereum also tumbled in sympathy.