The New York Stock Exchange will be open on August 19, 2021.
Wang Ying/ Xinhua.
The Dow Jones Industrial Average hit a new high, but the rest of the US stock market was mixed.
A new record close was achieved by the Dow, which gained more than 200 points. The tech-laden Nasdaq was dragged down by two companies.
The Santa Claus rally in the stock market officially ended on the second trading day of 2022.
The US indexes stood at 4:00 pm. The close is Tuesday.
The data showed that the US economy is doing well.
The manufacturing sector grew in December, though less than anticipated, according to the latest Institute for Supply Management report. 4.5 million Americans quit their jobs in November, a record, according to the Bureau of Labor Statistics.
"Risk appetite waned after both a softer-than- expected ISM manufacturing report and the JOLTS job openings suggested that wages will have to rise," said Edward Moya, senior equity analyst at Oanda in a Tuesday note.
The Federal Reserve's goal of recovering jobs lost during the Pandemic is complicated by the so-called Great Resignation.
The minutes of the Federal Open Market Committee meeting are scheduled to be released on Wednesday. The Fed is expected to start hiking in March or May.
Jeremy Siegel, a finance professor at Wharton, believes that US stocks will continue to rise even as the Fed hikes interest rates.
Despite a record number of new COVID-19 cases, the S&P 500 continues to trend higher to kick off 2022. 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.
The yield on the 10-year Treasury note rose as investors bet on tighter monetary policy from the Fed this year. Bond yields move with prices.
The price of oil jumped after the Organization of the Petroleum Exporting Countries and its non-member allies agreed to modestly increase oil production in February.
The price of West Texas Intermediate crude oil rose as much as 1.45%. The price of oil rose as much as 2% to $80.14 per barrel.
The price of gold rose to $1,814.06 per ounce.
Business Insider has an original article.
