Stocks Dip, But Still Set To Close Year Near Records – S&P 500 Up 27% in 2021

The S&P 500 and DOW Jones Industrial average retreated from record highs on Thursday, as investors weighed Omicron worries but are still on pace to close 2021 near record highs.

2021 was an unprecedented year for equity markets – the S&P 500 reached record highs 71 times over the last year and up 27% in the last year.

The stock highs came amid a massive growth in the money supply, as well. The Fed’s unprecedented stimulus caused investors to bid up the prices of stocks and commodities.

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Meanwhile, supply shortages helped drive commodity prices even higher.

Inflation rose considerably in 2021 with prices seeing the their biggest increase in nearly 40 years.

In 2022, investors will be most focused on the Fed’s ability to deal with inflation.

U.S. Dollar and Treasuries

The yield on the 10-year Treasury fell one basis point. The dollar remained stable against a basket of major currencies.

Price Chg. Chg. %
U.S. Dollar Index (DXY): 95.63 -0.35 -0.36%

 

Yield Change Previous close
U.S. 1 Year Treasury Bill 0.371% 0.006 0.365%
U.S. 5 Year Treasury Note 1.268% 0.003 1.265%
U.S. 10 Year Treasury Note 1.502% -0.008 1.510%

 

Stocks To Watch

Chipmaker Advanced Micro Devices said it expects to complete a $35 billion deal to take over its rival Xilinx.

Fitness equipment maker Peloton slid in premarket trading after jumping 7.61% on Thursday. JPM Securities downgraded the stock to “perform” from “outperform.”

Pfizer is up after British regulators approved the use of Paxolovid, the COVID anti-viral pill, for people with mild illness.

Symbol Company Name Price Chg. %
AMD Advanced Micro Devices Inc. $145.74 0.38%
PTON Peloton Interactive Inc. $36.34 -2.29%
PFE Pfizer Inc. $59.51 1.89%

Commodities To Watch

Oil dropped as holiday airline cancellations worsen. Still, crude oil still looks like it will have its best year since 2009. 

Gold rose to $1826.20 an ounce. 

Resource Price Chg. %
WTI Crude Oil $75.42 -2.04%
Brent Crude Oil $77.97 -1.96%
Natural Gas $3.62 1.77%
Gold $1,820.00 0.33%
Silver $23.13 0.30%
Copper $4.42 0.59%

 

Crypto

The global crypto market cap is $2.25T, a 0.71% increase over the last day. Bitcoin’s dominance is currently 40.35%, an increase of 0.03% over the same period.

Currency Symbol Price Chg. % Market Cap.
Bitcoin BTC $48,083.20 +0.80% 909.55b
Etherium ETH $3,796.10 +1.27% 450.17b
Binance coin BNB $522.66 -0.82% 78.58b
Solana SOL $175.55 +0.16% 54.33b
Cardano ADA $ 1.366 -0.24% 42.52b

 

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