S&P futures are nearing record highs at a bright start to the year – World Celebrat : Daily Celebrations Ideas, Holidays & Festivals

S&P futures are nearing record highs at a bright start to the year

A Wall Street banner appears outside the New York Stock Exchange (NYSE) in New York, US December 17, 2019. REUTERS/Brendan McDermid

Tesla Makes Better Than Expectations
Major oil prices rise after crude oil prices rise due to lack of supply
Futures up: Dow 0.43%, S&P 0.52%, Nasdaq 0.61%

(Reuters) – S&P 500 futures approached record highs on Monday as stock markets looked to extend the recovery from the pandemic shock into the new year, while shares in heavyweight Tesla jumped after the electric car maker posted bumper delivery numbers. .

Shares of Tesla (TSLA.O) rose 6.7% in premarket trading after the company’s quarterly deliveries beat Wall Street estimates, outpacing a global chip shortage as production ramped up in China. Read more

The company’s record sales also boosted other companies in the electric vehicle sector including Lucid Group (LCID.O) and Rivian Automotive (RIVN.O), which added nearly 2% each. Chinese electric car makers Nio (NIO.N) and Xpeng gained 4.7% and 2.5%, respectively, after a jump in their delivery.

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Shares of oil giants Chevron Corp (CVX.N) and ExxonMobil (XOM.N) rose more than 1% each, as crude prices rose on tight supplies and hopes of a further recovery in demand in 2022.

The S&P 500 Energy Index (.SPNY) was the best sectoral performer in 2021 with a 47.7% rise – its biggest annual gain ever – as higher oil prices slashed corporate profits heavily.

“There is a kind of optimism that we are seeing at the start of the year with a general feeling that the Omicron variant will not do as much damage to the economy as the market initially thought,” said Rick Meckler, partner at Cherry Lane. investments.

“But we cannot replicate the gains in 2021 as we expect some constraints in corporate earnings growth.”

All major Wall Street indexes ended 2021 with monthly, quarterly and annual gains, posting their biggest advance in three years since 1999.

The benchmark S&P 500 added 27% in 2021 and reported 70 record closings, the second largest ever, in a turbulent year due to new COVID-19 variables and supply chain shortages.

The Dow is up 18.7% for the year while the Nasdaq Tech Index is up 21.4%.

At 08:37 AM ET, the Dow e-minis was up 154 points, or 0.43%, the S&P 500 e-minis was up 24.75 points, or 0.52%, and the Nasdaq 100 e-minis was up 100 points, or 0.61%.

Concerns about the novel coronavirus variant of Omicron persisted into the new year after the top US infectious disease expert, Anthony Fauci, warned that there was still a risk of an increase in hospitalization due to coronavirus cases even as the data indicated The early indications are that Omicron is less severe. Read more

IHS Markit’s manufacturing PMI data, due at 9:45 a.m. ET (0245 GMT), will be looked at to see the impact of the increase in COVID-19 cases on manufacturing activity after it slowed to its lowest level in a year. one last time. reading. Read more

McDonald’s (MCD.N) gained 1% after Piper Sandler upgraded the US fast-food chain to “overweight” from “neutral,” saying it was in a position to continue to perform at a higher rate than its peers.