S&P 500 Closes at New ATH Ahead Christmas
ZFX – The S&P 500 closed at a new all-time-high, just missing its all-time intraday high, and the other major US indexes closed bullish for the week. Low trading volume and optimism over controlling the Omicron Covid-19 variant made this possible.
The S&P 500 ended the day fading from session highs, up 0.62% to 4725.74. The Dow Jones Industrial Average closed up 197 points at 35951, up 0.55%, while the NASDAQ Composite again outperformed its peers, ending the day up 0.84% at 15653.
While Nasdaq closed up 3.2% and Dow closed 1.65%, S&P 500 closed up at 2.3% for the week.
One of the most highlighted stocks is Tesla, which is up nearly 6% as investors ignore CEO Elon Musk’s continued sale of shares. On the other hand, Bitcoin is trading above $50,000 again at $50,965 at the time of writing, with the crypto trend becoming increasingly bullish. ETH was also up to $4,086 and LTC was up to $165.43.
In the commodity sector, WTI Crude Oil Futures ended the week up 4%, supported by the same market belief that economic activity will not be too hampered by the omicron news. Gold Futures closed at the highest level for the past five weeks, caused by inflation concerns from the US personal consumer spending report.
US markets are closed today for Christmas, as are commodity markets in general. Please visit the economic calendar website for more detailed information. However, the crypto market will always be open.
ZFX wishes you a Merry Christmas and happy holidays!
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