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Stock futures rise ahead of first trading day of 2022


Traders work on the floor of the New York Stock Exchange (NYSE) on December 8, 2021 in New York City.

Spencer Platt | beautiful pictures

U.S. stock futures rose on Sunday night as Wall Street is expected to start 2022 on solid momentum.

Futures tied to the Dow Jones Industrial Average rose 80 points. The S&P 500 index gained 0.3%, while Nasdaq 100 futures gained 0.4%.

The futures move comes after the market ended 2021 strongly last week. The The S&P 500 is up nearly 27% for the year, with Nasdaq Composite and Dow also delivering big profits. Stocks fell slightly on Friday, but the S&P 500 and Dow were both positive in the final week of the year.

The new year started with the ongoing uncertainty surrounding the Covid-19 pandemic. The increase in omicron variation helped lead to Thousands of flights canceled during the holiday season and led some Businesses and schools consider temporary closures. Few the big banks on Wall Street asked employees to work from home during the first few weeks of January.

Infectious disease expert Dr Anthony Fauci told ABC’s “This Week” on Sunday that US health officials could soon update the guidelines to include a test proposal to signal when a person who has previously tested positive for Covid can leave isolation.

Inflation and monetary policy are also expected to be key themes for 2022, as investors expect the Federal Reserve to raise interest rates several times over the next year to help cool the rise in prices. with consumers.

“For the economy as a whole, the market story for 2022 will return to normal. As hiring resumes, spending picks up, and businesses hire and invest, the economy will normalize. The government is normalizing policy in line with the same expectation. “When you look at the macro picture, the overarching theme is that 2022 will bring us back to normal,” said Brad McMillan, chief investment officer at Commonwealth Financial. Network, said in a note to customers on Friday.

Market could see upside on Monday from shares of Tesla. The Electric vehicle company reports 308,600 deliveries in fourth quarter, beat expectations.

The first week of the year will be a busy one for economic data, with the key December jobs report expected to be released on Friday morning. On Monday, investors will receive updates on manufacturing activity and construction spending.

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