U.S. Markets Slide to a Lower Close in a Quiet Finish to a Loud Market Year -Breaking
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By Daniel Shvartsman
Investing.com. Major U.S. Indices closed lower after a late dip in the final day 2021. This was a mild finish to a volume-year.
They finished at 4766. That’s a drop of.26%. Meanwhile, the fell 60 points (or.16%) and traded lower by 97 points (or.6%). The small-cap finished down.15%.
The year ended in a strange year. However, the final week saw indices rise and volumes drop. The S&P 500 finished up .9% for the week, the Dow Jones Industrial Average finished up 1.1%, and the Nasdaq Composite bucked the trend, dropping -.1% for the week.
Airports saw the most activity, with more than 1,000 flights cancelled. While Delta and Southwest Airlines (NYSE) closed up.5% and United Airlines, (NASDAQ:), (-.4%), and American Airlines, (-.2%), both were not affected by the sale.
With the New Year approaching, Covid cases are continuing to reach new heights. Many officials expect another big jump. Pavloxid was also approved by the U.K. Pfizer South Africa was granted an exemption from the curfew requirement for its antiviral drug for Covid-19 treatment. While it is generally accepted that the Omicron variant is less serious and spreads more quickly, its magnitude will be determined in 2022.
Pfizer was among the leaders on the S&P 500, ending the day up 1.4%. Ford traded up 1.6% in a strong close to an automaker’s year. Mohawk Industries Inc (NYSE 🙂 traded higher by 3% during a very strong day. Carnival Corporation (NYSE 🙂 was down 3%. Norwegian Cruise Line Holdings Ltd (NYSE:) fell 1.6% and 1% as the CDC advised that people should not take cruises because of Covid risk. As the year winds down, Twitter (NYSE:), and Discovery Inc Class B (NASDAQ:) both traded 3.2% lower. Meta Platforms were also reduced by 1.9%.
After another slow December quarter, Peloton (NASDAQ) fell 4%. Fellow 2020 winner Zoom Video Communications Inc (NASDAQ) also fell 3.5%. PACCAR Inc (NASDAQ) was also among the top winners with an increase of 1.1%. Xcel Energy (NASDAQ): Reduced losses. The day ended down.4% after it experienced power outages due to wildfires in Northern Colorado.
Among smaller stocks, Nutriband Inc (NASDAQ: ) soared 170%+ upon receiving a Korean patent. It was for its lead technology, AVERSA.
down 2.3% at $75.21/barrel, though they still finished with 55% gains for the year, the best year for oil since 2009. dropped 1.8% to $77.85/barrel, good for a 51% gain on the year, its biggest year since 2016.
The yellow metal saw a 4% increase to $1828.60/oz. However, the market’s focus on inflation led to a.8% rise. This was the worst year for the yellow metal since 2015.
For the year, the S&P 500 posted a total return of 29%, while the Nasdaq closed up 22%, the Dow up 21%, and the Russell up just shy of 15%. For the , the S&P 500 saw each of its 11 sectors finish with double-digit gains for the year.
The original publication was at 9:16 ET. It will continue to be updated throughout today.
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