Here is what you need to know on Friday, December 31:

Well, we made it to the end of the year and what a tumultuous one it was. We can scarcely believe we are still talking about covid. Indeed talking about record infection rates, hopefully, recent research that the omicron variant proves less severe is correct because we are all tired of this covid business now. Unless of course, you are a vaccine manufacturer that is with booster shots being dished out globally. The UK has just approved Pfizer’s (PFE) Paxlovid covid antiviral pill. Cruise stocks may not take the latest CDC advisory well “avoid cruise travel, regardless of vaccination status”. 

Gains for the year are healthy, with one session to go the S&P 500 takes the top step up 27% with the Nasdaq getting silver with a 22% gain. The Dow lags with a still-healthy 19% gain for 2021. How are we looking for 2022? Probably more gains in our view, earnings to remain strong, covid to finally abate and consumer demand is still pent up. We have our 2022 forecast here, take a look, it’s riveting stuff!

The dollar is snoozing its way to the finish line at 1.1330 versus the euro. Oil is down 1% to $75.64 and bitcoin is up 2% to $48,000. Gold is at $1819.

See forex today

European markets are higher: Eurostoxx +0.2%, FTSE flat, and Dax +0.2%. Most are now closed.

US futures are lower: S&P -0.1%, Dow -0.1% and Nasdaq -0.1%. All down 0.1% then, why didn’t I just write that in the first place!

Wall Street (SPY) (QQQ) top news

Pfizer (PFE) the UK approves Paxlovid antiviral pill.

Exxon Mobil (XOM) is on track for another quarterly profit thanks to strong energy prices. SEC filing, results on February 1-CNBC.

Tesla (TSLA) recalling 475,000 vehicles.

Advanced Micro Devices (AMD) expected to complete Xilinx (XLNX) deal in Q1 2022.

Apple (AAPL) switching some business from Foxconn to Luxshare.

Medalist Diversified REIT (MDRR) reports a stock repurchase program.

Zepp Health (ZEPP) lower Q4 revenue guidance.

Peloton (PTON) was downgraded by JMP Securities.

That’s all folks, no economic releases or upgrades or downgrades of note to mention. Thanks for reading this year and have a great 2022. Throw a few comments into our survey below, but please be nice! 


Like this article? Help us with some feedback by answering this survey:

This article was originally published by Fxstreet.com.Read the original article here.

LEAVE A REPLY

Please enter your comment!
Please enter your name here