Upward Momentum May Persist On First Trading Day Of 2022

[ADVFN]( [[Global Email] World Daily Markets Bulletin]( Monday, 03 January 2022 09:13:42 [ADVFN Twitter]( [Monitor]( [Quote]( [Charts]( [News]( [Toplists]( [Boards]( [How Pro Traders Actually Pick Their Stocks]( When a stock skyrockets, we?re eager to see if it will continue to push higher or reverse course. And there is one way to know what?s coming next, but it isn?t what you think. It?s the only guaranteed way to get answers. [Check out this must-see tool for predictive analysis.]( --------------------------------------------------------------- US Market Bitcoin [Bitcoin]( DAX [DAX]( Dow Jones [Dow Jones]( Nasdaq [Nasdaq]( The major U.S. index futures are currently pointing to a higher open on Monday, with stocks likely to add to the strong gains posted last year. The markets may continue to benefit from recent upward momentum, which has lifted the Dow and the S&P 500 to new record highs. Optimism the global economy will weather the storm posed by the Omicron variant of the coronavirus may contribute to continued strength on Wall Street. Trading activity may be somewhat subdued on the first trading day of 2022, however, as some traders remain away from their desks following the New Year?s weekend. Stocks turned in a lackluster performance for much of the trading day on Friday before coming under pressure going into the close. Despite the late-day pullback on the final trading session of the year, 2021 still turned out to be a particularly strong year for the markets. The major averages all finished the day in negative territory. The Dow edged down 59.78 points or 0.2 percent to 36,338.30, the Nasdaq slid 96.59 points or 0.6 percent at 15,644.97 and the S&P 500 dipped 12.55 points or 0.3 percent to 4,766.18. For the year, the S&P 500 spiked by 26.9 percent, while the Nasdaq and the Dow soared by 21.4 percent and 18.7 percent, respectively. The major averages all moved higher for the third straight year. The lackluster performance on the day came as traders seemed reluctant to make significant moves on the final trading day of the year. A lack of major U.S. economic data may also have kept traders on the sidelines along with limited activity in overseas markets. Nonetheless, the Dow and the S&P 500 remain near their recent record highs, as traders are optimistic the Omicron variant of the coronavirus will only be a small road bump for the global economic recovery. Most of the major sectors showed only modest moves on the day, although weakness among computer hardware and software stocks weighed on the tech-heavy Nasdaq. Among individual stocks, shares of Lexicon Pharmaceuticals (LXRX) showed a significant pullback after seeing early strength after the drug maker submitted a new drug application to the FDA seeking approval for its heart drug sotagliflozin for adults with type 2 diabetes. Fitness equipment maker Peloton (PTON) also showed a notable move to the downside after JMP Securities downgraded its rating on the company's stock to Market Perform from Market Outperform. On the other hand, drug giant Pfizer (PFE) moved higher after British regulators approved the use of its Covid-19 antiviral pill Paxlovid for people over 18 with mild to moderate illness. --------------------------------------------------------------- [MUST SEE 'Set and Forget' Dividend Portfolio]( The easiest way to self-manage your dividend income portfolio without losing a ton of money is following my advice below. Dividend stocks I personally recommend and buy myself are meant to held for a long time. One of my current dividend payers to 'set and forget' for now is paying over 25% yields. There?s a process I follow to build this dividend portfolio that grows and ends up paying your bills for life. See how easy it is to follow. [Click here to see how this 'set and forget' dividend portfolio works.]( --------------------------------------------------------------- U.S. Economic Reports CADUSD [CADUSD]( Oil [Oil]( Gold [Gold]( EURUSD [EURUSD]( The Commerce Department is scheduled to release a report on construction spending in the month of November at 10 am ET. Construction spending is expected to increase by 0.6 percent. --------------------------------------------------------------- Europe European stocks are hovering near record highs on Monday despite soaring cases of the Omicron coronavirus variant across Europe and elsewhere. Sentiment has been underpinned after HS Markit's final manufacturing Purchasing Managers' Index (PMI) came in at 58.0 in December, matching an initial flash estimate and raising hopes that growth rates could better in 2022. The French CAC 40 Index and the German DAX Index are both jumping by 1.1 percent, while the U.K. markets were closed for a public holiday. Zurich Insurance Group AG shares have risen. The Swiss insurer announced that its Italian unit Zurich Investments Life S.p.A. has agreed to sell its life and pension back book to the Portuguese insurance company GamaLife - Companhia de Seguros de Vida, S.A. Ahold Delhaize has edged up slightly. The Dutch operator of supermarkets, convenience stores, hypermarkets, and others, said that it has started 1 billion-euros share repurchase program, which is expected to be completed by the end of 2022. Deutsche Wohnen shares have rallied. The German property company said it has appointed Konstantina Kanellopoulos and Lars Urbansky as co-chief executive officers. Philip Grosse will remain Chief Financial Officer until 31 March 2022. Meanwhile, Evotec AG, a drug discovery and development company, has fallen. The German Federal Ministry of Education and Research has selected the company for a grant of 7.5 million euros, for the development of EVT075, a potential first-in-class immunomodulatory therapy to fight Covid-19. --------------------------------------------------------------- --------------------------------------------------------------- Asia USDCAD [USDCAD]( USDEUR [USDEUR]( USDGBP [USDGBP]( USDJPY [USDJPY]( Asian stocks ended mixed in thin trading on the first trading day of 2022, with many regional markets including China, Australia and Japan closed for holidays. Omicron-fueled worries persisted, with the global number of cases topping 290 million as of January 3, according to Johns Hopkins University data. Investors also awaited China's Caixin manufacturing and service PMIs due later in the week for directional cues. Seoul stocks finished higher as investors cheered strong manufacturing and exports data. While activity in South Korea's factories expanded at the fastest pace in three months in December, the country's exports rose 25.8 percent in 2021 from the previous year to reach an all-time high, separate reports showed. The Kospi rose 11.12 points, or 0.4 percent, to 2,988.77. Hong Kong's Hang Seng index fell 122.92 points, or 0.5 percent, to 23,274.75. Shares of Evergrande Group, a debt-laden Chinese major property developer, were suspended in Hong Kong amid the company's huge debt crisis. The debt-ridden property developer did not provide a reason for the suspension. Fellow Chinese property developer Cifi Holdings slumped 4.7 percent after it offered to buy China Evergrande's outstanding 5.5 percent bond due in 2022. --------------------------------------------------------------- Do you have a full view of the market? Level 2 lets you see all of the orders to buy and sell shares, allowing you to see what is really going on in the market. If you don?t have this in your trading toolkit, you?re at a serious disadvantage. [Learn More / Upgrade]( --------------------------------------------------------------- Commodities Crude oil futures are falling $0.46 to $74.75 a barrel after plunging $1.78 to $75.21 a barrel last Friday. Meanwhile, after climbing $14.50 to $1,828.60 an ounce in the previous session, gold futures are sliding $13.60 to $1,815 an ounce. On the currency front, the U.S. dollar is trading at 115.04 yen versus the 115.08 yen it fetched at the close of New York trading on Friday. Against the euro, the dollar is trading at $1.1361 compared to last Friday?s $1.1370. --------------------------------------------------------------- To unsubscribe from this news bulletin or edit your mailing list settings click [here](. Registered Office/Accounts Dept: Suite 27, Essex Technology Centre, The Gable, Fyfield Road, Ongar, CM5 0GA. Customer Support +1 888-992-3836. 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