Spencer Platt is a photographer.
US stocks hit fresh records Tuesday as investors await new economic data.
The ISM manufacturing index and job openings data will be released at 10 a.m., offering some indication on the health of the US economy. The time is later.
The S&P 500 gained 0.6% in the previous session to set a new record. The tech-laden Nasdaq and the blue-chip Dow Jones Industrial Average both climbed on Monday, as the latter hit a new all-time high.
The US indexes were at 9:30 a.m. On Tuesday, it will be open.
The benchmark index gained 28.7% on a total return basis in the year, thanks to a year-end 4.5% rally in December, according to a note from Bank of America Tuesday. The index more than doubled over the past three years.
Despite a record number of new COVID-19 cases, the stock market has continued to trend higher. On Monday, reported daily cases in the US exceeded 1 million for the first time due to the Omicron variant.
Researchers at Columbia University estimated that the country could see a peak in infections by January 9.
Fundstrat Head of Research Tom Lee said in a Tuesday note that the first element of relief for markets will be the peak of Omicron cases. Omicron is going to drive record case figures.
The minutes of the Federal Open Market Committee meeting are scheduled to be released on Wednesday, and investors will be paying attention to that.
The yield on the 10-year Treasury note rose to 1.666% from Monday's 1.628% as investors bet on tighter monetary policy from the Federal Reserve in the years to come. Bond yields move with prices.
After posting gains Monday, oil prices were little changed Tuesday.
West Texas Intermediate crude oil rose as much as 1.20%. The price of oil rose as much as 1.22%) to $79.94 per barrel.
The price of gold fell as much as 0.23%.
Business Insider has an original article.
