Home 2022 Stocks Rally to All Time Highs, So Do Cryptos, ‘Red Wave’ Builds

Stocks Rally to All Time Highs, So Do Cryptos, ‘Red Wave’ Builds

by Paul Ebeling

#SantaClaus #rally #stocks #retail #commodities #memes #crypto #economy #politics #RedWave #NTFs

$DIA $SPY $QQQ $RUT $VXX $USO $GLD $USD $DXY $MMAT $TSLA $LCID $KNIGHTSUSD

“The 1st step towards getting somewhere is to decide you’re not going to stay where you are.” – John Pierpont Morgan

“Blockchain ETFs and other crypto-related stocks drove North to start the New Year” — Paul Ebeling

S&P 500 and DJIA finished at record highs to begin Y 2022 Monday.

DJIA +246.76 at 36585.06, NAS Comp +187.83 at 15832.79, S&P 500 +30.38 at 4796.56

Monday, the major indices had a Super start to Y 2022 featuring record closes in the S&P 500 (+0.6%) and DJIA (+0.7%). The NAS Comp (+1.2%) and Russell 2000 (+1.2%) tied for the lead with 1.2% gainers.

  • NAS Comp +1.2% YTD
  • Russell 2000 +1.2% YTD
  • DJIA +0.7% YTD
  • S&P 500 +0.6% YTD

Key Commodities

WTI Crude Oil futures settled higher by $0.76 (+1.0%) at $76.05/bbl, Gold futures settled $28.50 lower (-1.6%) to $1,800.10/oz and the US Dollar Index is +0.3% at $96.21

The Memes

Meta Materials Inc. (NASDAQ:MMAT) traded up more than 19% in the Noon hr Monday on no specific news.

Tesla Inc. (NASDAQ:TSLA) traded up more than 11% Monday after soundly beating delivery estimates forQ-4

EV maker Lucid Group Inc. (NASDAQ:LCID) saw its stock rise by about 6.5% Monday. Tesla’s strong showing, together with the solid reports from 3 Top Chinese EV makers, has filtered down to Lucid, Rivian, Canoo and even Lordstown.

Cryptocurrencies

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Governments around the world have been looking at adopting, regulating cryptocurrencies since the inception of Bitcoin. Ever since, the crypto ecosystem has been a Super ride North. Click on the pace in Abu Dhabi.

US Economy

  • Total construction spending increased 0.4% month-over-month in November following an upwardly revised 0.4% increase in October. Total private construction increased 0.6% month-over-month while total public construction spending decreased 0.2%. On a year-over-year basis, total construction spending was up 9.3%.
    • The Key takeaway from the report is the strength seen in new single-family construction, which is a reflection of the persistently strong housing demand amid a scarcity of supply in the existing home market.
  • The preliminary December IHS Markit Manufacturing PMI decreased to 57.7 from a revised final reading of 58.3 (from 57.8) in November.

Looking Ahead: Investors will receive the ISM Manufacturing Index for December and the JOLTS report for November Tuesday.

Politics

According to an ABC News/Washington Post poll, “Republican congressional candidates currently hold their largest lead in midterm election vote preferences in ABC News/Washington Post polls dating back 40 years.

Have a prosperous day, Keep the Faith!

#SantaClaus, #rally#stocks#commodities#memes#crypto#economy#politics, #RedWave, #NTFs,

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