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A new record on the US stock market
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A new record on the US stock market

created Daniel KosteckiDecember 28, 2021

It seems that American investors returned to the market in an excellent mood after the holiday break. Purchase of shares of companies included in the composition S & P 500 translated into a new all-time record for this index on Monday, already the 69th record this year.

The optimistic attitude of American investors and increases in the stock markets in the USA may be related to the relatively mild influence of the micron on the functioning of the country. The new strain of the virus does not seem to slow down economic growth. Moreover, in the United States, the quarantine period has been reduced from 10 days to 5 days of home isolation.

Worse with airline stocks

Including therefore the Dow Jones could have increased by 352 points, remaining only 0,4%. from the record level, the S&P 500 by 1,4 percent, extending profits to a new record level at 4800 points, and Nasdaq Composite by 1,4%, reaching the highest level since mid-November.

Tech and energy stocks appeared to rise, while airline and cruise ship stocks were under pressure as thousands of U.S. flights were canceled over the weekend due to contamination of crew members.

As you can see, the US stock market does not seem to care about changes in approach Federal Reserve to monetary policy, the end of the asset purchase program or possible interest rate increases in 2022.

Gold and silver on the rising tide

Interestingly, at the same time as the US indices were rising, gold and silver also seemed to be gaining in value. The price of silver soared above $ 23 an ounce and this morning it was at its highest level in four weeks. An ounce of gold costs $ 1815 and is the most expensive in more than a month.

Bullion and shares become more expensive with relatively small changes EUR / USD pairswhich pair seems to be consolidating at 1,1320.

 

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About the Author
Daniel Kostecki
Chief Analyst of CMC Markets Polska. Privately on the capital market since 2007, and on the Forex market since 2010.