The Dow Jones Industrial Average rose 246 points or 0.7%, while S&P 500 added 0.6%, both closed at record highs. Investors are coming off a winning year that drove the S&P up 27%, or over 1,011 points, the largest one-year point gain on record.
|I:DJI||DOW JONES AVERAGES||34168.09||-129.64||-0.38%|
The Nasdaq Composite jumped 1.2% helped in part by Apple which became the first U.S. company to hit $3 trillion in market value intra-day. Shares closed just below that level.
|I:COMP||NASDAQ COMPOSITE INDEX||13542.118929||+2.82||+0.02%|
Pfizer received approval from the Food and Drug Administration allowing extra shots for children as young as 12. Other vaccine makers traded mixed on the news.
Tesla rose after the automaker announced it delivered 308,600 vehicles globally in the fourth quarter to set its sixth consecutive quarterly record, beating analyst estimates by over 15%.
Other electric vehicle makers, including China's Nio and Li Auto, also reported strong delivery numbers.
|NIO||NIO INC. (CHINA)||22.66||-1.13||-4.75%|
|LI||LI AUTO INC.||25.09||-0.34||-1.34%|
Meat producers are in focus. President Biden announced efforts to curb rising prices amid runaway inflation.
|HRL||HORMEL FOODS CORP.||46.56||-1.65||-3.42%|
|TSN||TYSON FOODS INC.||90.58||+0.29||+0.32%|
|SAFM||SANDERSON FARMS INC.||185.60||-1.25||-0.67%|
Chipotle rolled out, for a limited time, a vegan chorizo item after test runs in several major cities. "Plant-Based Chorizo is made using all real, fresh ingredients grown on a farm, not in a lab," the restaurant chain stated.
|CMG||CHIPOTLE MEXICAN GRILL INC.||1,358.46||-9.94||-0.73%|
The economic calendar was light with November construction spending rising 0.4%, less than expected. October revised higher to 0.4%
Data heats up Tuesday with the release of the JOLTS report, which tracks job openings, while ADP will release its tally on employment Wednesday ahead of Friday's big jobs report for December.
|USO||UNITED STATES OIL FUND L.P.||61.68||+0.71||+1.16%|
|GLD||SPDR GOLD SHARES TRUST - EUR ACC||169.76||-2.79||-1.62%|
In commodities, oil drifted higher by 1.1% to $76.08 per barrel level, while gold slipped 1.5% to $1,799 an ounce.
In Asian trading, Hong Kong's Hang Seng shed 0.5% to 23,274.75 and the Kospi in South Korea rose 0.4% to 2,988.77.
One of China’s biggest real estate developers, Evergrande Group, which is struggling to avoid a default on $310 billion of debt, announced Monday it had asked for trading of its shares in Hong Kong to be suspended ahead of an announcement of unspecified "inside information."
The Associated Press contributed to this report.