Mon. December 27, 2021 – DIA 362.92 +.99%, QQQ 403.48 +1.65%, SPY 477.26 +1.42%, IWM 224.12 +.94% CNN Fear/Greed Index 58 (Greed)
No high-impact economic data was released. US markets continued the rally from the low of the 20th after a 3-day weekend. Energy Services (XLE) 56.10 +2.19% was the best performing sector as WTI crude 75.81 +2.02 dollars regained 50% of its recent plunge. APA Corporation (APA) 27.97 +7.19% and Devon Energy (DVN) 44.61 +6.09% were the two top names in the S&P500. Technology (XLK) 176.65 +2.15% was the next best performing sector with semiconductor and semiconductor equipment manufacturing shares showing continued leadership as 6 out of the top 7 in the S&P500. Advanced Microdevices (AMD) 154.36 +5.62%, Applied Materials (AMAT) 162.72 +4.65%, KLA Corporation (KLAC) 440.17 +4.61%, Nvidia (NVDA) 309.45 +4.40%, Marvel Technologies 90.81% +3.57%, Lam Research Corporation (LRCX) 723.40 +3.53%. On the downside, and hitting a 52-week low, interactive exercise equipment manufacturer Peloton (PTON) 36.71 -4.87% continued its downtrend from its high on January 14 at $171. Another stock near a 52-week low, former pandemic beneficiary video conference call firm Zoom (ZM) 187.44 -2.20%. The day’s clearest disaster was Bridgebio Pharma (BBIO) 11.38 -71.98% which released data on acoramidis in phase -3 trial that failed to meet its endpoint goal.
Tue. December 28, 2021 – DIA 363.99 +.29%, QQQ 401.61 -.46%, SPY 476.87 -.08%, IWM 222.75 -.61% CNN Fear/Greed Index 56 (Greed)
The S&P/Case-Shiller Home Price Index for October (YoY) came in slightly less than expected but still at a red-hot level of +18.4% vs. +18.5%. Equity markets were on pause after the pre-Christmas Santa Claus rally. Basic Materials (XLB) 90.16 +.58% performed best followed by Consumer Staples (XLP) 76.48 +.57% of the 11 S&P500 sectors. Leading the NDX100 Activision (ATVI) 66.67 +1.86% continued its rally from Dec. 3 after falling for the better part of 2021. Campbell Soup Company (CPB) 43.36 +2.80% led the S&P500. On the downside, diabetes management technology company, Dexcom (DXCM) 529.50 -7.09% came under selling pressure trade reports that the company's G7 CGM product was under review pushing back a launch in Europe until 2022. Bridgebio Pharma (BBIO) 13.43 +18.01% had a bit of a bounce from Tuesday’s bludgeoning.
Wed. December 29, 2021 – DIA 364.80 +.22%, QQQ 401.55 -.01%, SPY 477.48 +.13%, IWM 223.00 -.03% CNN Fear/Greed Index
Pending Home Sales for November (MoM) were reported down -2.2% vs. the positive +.5% expected. Interest rates climbed as exhibited by the 10-Year Note (Yield) Index (TNX) 15.43 +.62. Real Estate (XLRE) 51.47 +.61% and Healthcare Services (XLV) 141.25 +.61% tied for top sector. Walgreens Boots Alliance (WBA) 52.25 +1.59% led the DJIA. Leading the NDX100 Biogen Inc. (BIIB) 258.31 +9.46% popped on a report that the firm might be acquired by Samsung Group. Western Digital (WDC) 66.13 +5.24% continued its move higher as Samsung Electronics reported that it would adjust output due to a coronavirus outbreak in China. Micron Technology (MU) 96.17 +3.48% moved higher on the news as well. Travel and entertainment stocks were weaker with news of major flight cancellations continuing from the Christmas travel period. American Airlines (AAL) 18.06 -2.59%, United Airlines (UAL) 44.43 -1.86%, Las Vegas Sands (LVS) 37.19 -1.80%, Wynn Resorts (WYNN) 84.98 -1.71% were all lower on the day.
Thur. December 30, 2021 –DIA 364.07 -.21%, QQQ 400.35 -.30%, SPY476.16 -.28%, IWM 222.93 -.03% CNN Fear/Greed Index 62 (Greed)
Initial Jobless claims came better than expected 198K vs. 208K. Chicago Purchasing Managers Index came in stronger than expected at 63.1 vs. 62. Markets were lower in a consolidation from the prior week’s advance. Real Estate (XLRE) 51.70 +.45% performed best, followed by Communication Services (XLC) 78.77 +.42%. Disney (DIS) 155.93 +.68% led the DJIA, while Proctor & Gamble (PG) 162.77 -.86 was the biggest detractor. In what appeared to be the start of a potential tax bounce the three best performers in the NDX100 were China-related technology firms which have been in steep declines: Baidu (BIDU) 150.61 +10.5%, Pinduoduo (PDD) 59.45 +10.07%, NetEase (NTES) 103.75 +8.92%, and JD.com 70.40 +7.27% coming in fifth. Another stock that had shown a steep decline this year, interactive fitness equipment manufacturer Peloton (PTON) 37.19 +7.61% advance as well. On the downside and the laggard of the NDX100 was Biogen Inc. (BIIB) -7.09% as Samsung Group denied it was looking to buy the firm.
Fri. December 31, 2021 – DIA 363.32 -.21%, QQQ 397.85 -.62%, SPY 474.96 -.25%, IWM 222.45 -.22% CNN Fear/Greed Index
No high-impact economic data was released. Equity markets ended 2021 on a downtick in a consolidative pattern for most shares. The top S&P500 sector performers were Consumer Staples (XLP) 77.11 +.68%, and Basic Materials (XLB) 90.61 +.44%. The lagging sector was communication services (XLC) 77.68 -1.38% with Discovery (DISCA) 23.54 -3.72% as Viacom (VIAC) 30.18 -3.02% were the laggards in the S&P500. Home Depot (HD) 415.01 +1.24% and Walmart (WMT) 144.69 +1.06% led the DJIA. Microsoft (MSFT) 336.32 -.88% and Goldman Sachs (GS) 382.55 -.77% were the laggards. Mohawk Industries (MHK) 182.18 +2.41 and Ulta Beauty 412.34 +1.87% led the S&P500. Bridgebio Pharma (BBIO) 16.68 +14.64% continued in its rally from its selloff earlier in the week. Up on a large bar, municipal bond insurer MBIA (MBI) 15.79 +18.19% on no apparent news.
Stay Safe & have a Happy New Year.
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