Dow adds 95 points, S&P, Nasdaq slip
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Payne Capital Management President Ryan Payne and former Gartman Letter editor Dennis Gartman provide insight into how the omicron variant impacts the market.
U.S. stocks eased from record highs as investors wind down the final trading days of the year.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 38460.92 | -42.77 | -0.11% |
| SP500 | S&P 500 | 5071.63 | +1.08 | +0.02% |
| I:COMP | NASDAQ COMPOSITE INDEX | 15712.748618 | +16.11 | +0.10% |
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.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DIS | THE WALT DISNEY CO. | 113.97 | +0.22 | +0.19% |
| BA | THE BOEING CO. | 164.34 | -4.74 | -2.80% |
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.
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| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| USO | UNITED STATES OIL FUND L.P. | 79.62 | -0.38 | -0.47% |
| XOM | EXXON MOBIL CORP. | 121.06 | +0.04 | +0.04% |
| CVX | CHEVRON CORP. | 163.64 | +0.80 | +0.49% |
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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| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAPL | APPLE INC. | 169.02 | +2.20 | +1.32% |
| MSFT | MICROSOFT CORP. | 409.06 | +2.00 | +0.49% |
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.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 162.13 | +17.52 | +12.12% |
| NKLA | NIKOLA CORP. | 0.62 | -0.02 | -2.41% |
| LCID | LUCID GROUP INC. | 2.55 | +0.02 | +0.79% |
Software maker F5 rose after Needham analysts coined the stock the "single best idea" for the coming year.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| FFIV | F5 INC. | 182.35 | +2.12 | +1.18% |
Shares of Coinbase and related crypto currency exchange-traded funds were under pressure as Bitcoin fell back below the $50,000 level.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| COIN | COINBASE GLOBAL INC. | 224.37 | -12.04 | -5.09% |
| BITO | PROSHARES TRUST BITCOIN STRATEGY ETF | 27.85 | -1.16 | -4.00% |
| BITQ | EXCHANGE TRADED CONCEPTS TRUST BITWISE CRYPTO INNOVATORS E | 11.53 | -0.19 | -1.62% |
Ethereum also tumbled in sympathy.