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

#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

Live Monday: The Knightsbridge DAO is the 1st-of-its-kind, a DAO with a Broker, Exchange, Chain, Consultancy, Service Provider, NFT Hub and an extensive and growing portfolio of Tech, DeFi and real world assets. The Knightsbridge DAO (Decentralized Autonomous Organization) as an organization represented by rules encoded as a transparent computer program, controlled by the organization members, and not influenced by a central government. As the rules are embedded into the code, no managers are needed, thus removing any bureaucracy or hierarchy hurdles. 

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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,