The S&P 500, the Dow, set a record for the first trading day of 2022 on Reuters

Author: Caroline Valetkevitch

NEW YORK (Reuters) – The EI posted its first high on the first trading day of the year on Monday, backed by earnings from Tesla (NASDAQ 🙂 Inc. and bank shares.

Apple Inc. (NASDAQ 🙂 became the first company to achieve a market capitalization of $ 3 trillion, but ended the day below that. Its shares rose 2.5% to $ 182.01 after rising to $ 182.88 per session.

Tesla shares rose 13.5% after the quarterly shipments of the electric car maker exceeded analysts ’calculations, surpassing global chip shortages as production in China increased.

Both stocks gave the S&P 500 the biggest boost, but market watchers said easing investor concerns about the economic impact of the Omicron variant of the coronavirus helped boost market sentiment, even as the number of COVID-19 cases rose.

“The real news is that people feel that this latest round of COVID is not going to weaken financially because it will require a lot of cuts and blockages,” said Stephen Massocca, vice president of Wedbush Securities in San Francisco.

Among the latest developments, the U.S. Food and Drug Administration authorized a third dose Pfizer Inc. (NYSE 🙂 and BioNTech’s COVID-19 vaccine for children ages 12-15.

Thousands of U.S. schools have delayed returning to classrooms this week after a holiday break or switched to distance learning because the Omicron variant is breaking the COVID-19 record.

Massocca said market strength is not surprising as the new year begins, given the impact of January, or that some investors believe stocks will rise more than in other months of that month.

“It’s good to see the market being so resilient,” he said.

All of Wall Street’s top indices ended 2021 with monthly, quarterly and annual earnings, the biggest three-year gain since 1999.

The Dow Jones Industrial Average rose 246.76 points, or 0.68%, to 36,585.06; The S&P 500 gained 30.38 points, or 0.64%, to 4,796.56; and added 187.83 points, or 1.2%, to 15,832.80.

The energy and financial sectors were among the biggest gains as bank shares rose along with U.S. Treasury yields, despite investors jumping on the Federal Reserve’s expected rate hike earlier than expected this year despite the latest jump in COVID-19 cases.

Energy stocks rose with prices and good demand forecasts.

Wells Fargo Shares of the NYSE rose 5.7%, further helped by the rise in “overweight”. Barclays (LON :).

The S&P 500 benchmark rose 27% in 2021 and reported 70 closing records, the second-highest in a year hit by new COVID-19 variants and supply chain deficiencies.

Dow gained 18.7% year-on-year and Nasdaq Heavy Technology gained 21.4%. (Graphic: SPX2021Yearend, https://fingfx.thomsonreuters.com/gfx/buzz/gdpzykyogvw/SPX2021FullYear.png)

The advance of the problems outweighed the NYSE’s decline with a ratio of 1.34 to 1; On the Nasdaq, the ratios of 2.27 and 1 favored the advanced ones.

The S&P 500 did not release 20 new highs and lows in 52 weeks; The Nasdaq Composite recorded 89 new highs and 55 new lows.

The volume of U.S. exchanges was $ 10 trillion in shares, up from an average of $ 10.33 billion in a full session over the last 20 trading days.