© Reuters. FILE PHOTO: A trader works on the floor on the last day of trading before Christmas on the New York Stock Exchange (NYSE) in Manhattan, New York City, the United States, on December 23, 2021. REUTERS / Andrew Kelly
From Medha Singh
(Reuters) – US stocks should open a little lower on Friday, despite major Wall Street indices aiming to end the year with handsome gains for the third straight year, aided by massive incentives, vaccine launches and strong retail participation.
Futures tracking the Dow and the Dow each slipped 0.2% on the last day of 2021 after hitting intraday all-time highs in the previous session.
The S&P 500 and Dow hit highs this week as optimism outweighed concerns about a record spike in US cases and warnings of impending disruption from early data suggesting the Omicron variant was less virulent than other strains .
"With no major market drivers or major events planned, we expect quiet trading activity," Charalambos Pissouros, JFD Group's research director, wrote in a press release.
"Let's not forget, however, that due to the lack of liquidity, a sudden market-related headline can be enough to trigger excessive reactions."
Sentiment this week was bolstered by a number of bullish data, including a report that still showed no impact from the rampant surge in infections in the U.S. labor market, despite choppy market moves during the thin Christmas season.
At 8:35 p.m. ET, they were down 70 points or 0.19%, were down 6.5 points or 0.14%, and were down 8.5 points or 0.05%.
The S&P 500 benchmark will exit the year 27% higher, with the energy sector gaining 47.4% outperforming all other sector indices. Real estate and technology sectors were the second best performers, up 44% and 34% respectively last year.
The blue-chip Dow is expected to rise 19% while the tech-packed Nasdaq is set to rise 22%.
As investors prepare to ring in the new year, fourth quarter results, the pace of monetary tightening, and the midterm elections in the US Congress will be critical to stock market developments.
Among other sole proprietorships, Xeris Biopharma Holdings Inc. rose 25.1% after Recorlev's drug received approval for the treatment of adult patients with Cushing's syndrome, a rare hormonal disorder.
Tesla (NASDAQ 🙂 Inc is recalling more than 475,000 of its Model 3 and Model S electric cars to fix rear camera and trunk issues that increase the risk of accidents. It shares, however, 0.6% higher.
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