Union Pacific, a railroad operator, slid 1.7%. expanded use its COVID-19 booster shots for children as young as 12. Pfizer shed 4.1% despite news that the U.S. Health care companies fell broadly and kept gains elsewhere in the market in check. While the strength in technology companies drove the S&P 500 overall higher Monday, the number of stocks in the index that rose were just about even with decliners. “When you still have a low interest rate environment, which we do, at least for now, (stocks) are the place to be.” We’ve had all-time highs and we keep hitting them,” said Randy Frederick, vice president of trading & derivatives at Charles Schwab. “It’s been going on for months and months. The S&P 500′s latest milestones, following up on the 70 record highs it posted last year, are a sign investors remain bullish about stocks, despite the recent spike in COVID-19 cases from virus’ fast-spreading omicron variant and expectations that the Federal Reserve will begin pushing up interest rates sometime this year to fight rising inflation. That’s nearly as much as the benchmark index gained in 2019. The S&P 500 closed out 2021 with a 26.9% gain, or a total return of 28.7%, including dividends. The market’s solid start to 2022 follows another banner year for stocks on Wall Street. That helped push up shares in banks, which rely on higher yields to charge more lucrative interest on loans. The yield on the 10-year Treasury rose to 1.64% from 1.51% Friday. Tesla jumped 13.5% for the biggest gain in the S&P 500 after after reporting strong delivery numbers for 2021.īond yields rose significantly. It briefly traded above that level during the day. Apple rose 2.5%, closing just shy of becoming the first company to hit a market capitalization of $3 trillion. Technology stocks and a mix of retailers and other companies that rely on consumer spending accounted for a big share of the gains. The Nasdaq composite rose 1.2% to 15,832.80. Both indexes eclipsed the record highs they set last Wednesday. Wall Street got 2022 off to a solid start with more record highs for the S&P 500 and the Dow Jones Industrial Average. Some experts say Japan’s economy will recover this year, while others are more pessimistic, pointing to long-term social causes that have held back innovation in the world’s third largest economy for years, even before COVID-19 struck. “While sentiments may attempt to ride on the optimism from Wall Street, market participants have generally been more cautious in taking on more risks in the region,” said Yeap Jun Rong, market strategist at IG in Singapore. But worries are growing about an inevitable surge with reported detections of faster spreading omicron. The Shanghai Composite edged down 0.4% to 3,627.10.Ĭoronavirus infections and deaths have been fewer in Asia than in the U.S. Hong Kong’s Hang Seng dropped 0.3% to 23,206.26. South Korea’s Kospi slipped 0.3% to 2,979.23. At the smaller exchange in Osaka, in western Japan, women carried on the tradition of attending the year’s opening ceremony in colorful kimono.Īustralia’s S&P/ASX 200 jumped 1.7% to 7,570.00. and SoftBank Group Corp.įinance Minister Shunichi Suzuki and other dignitaries rang a bell at the Tokyo Stock Exchange to herald the opening of trading for 2022. Among the gainers were Toyota Motor Corp., Sony Corp. Japan’s benchmark Nikkei 225 jumped 1.7% in morning trading to 29,278.31 as markets reopened after the New Year holidays. TOKYO (AP) - Asian shares were mixed Tuesday, as worries in the region about the coronavirus omicron variant tempered market optimism set off by a rally on Wall Street.
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