Tuesday's Market Minute: First Trading Day of 2022

All four of the major U.S. stock indexes saw gains on the first trading day of the new year, and the Dow Jones Industrial Avg. ($DJI) and S&P 500 (SPX) both closed at record highs. Among the day’s winners were two big-name tech stocks as well as the travel and reopening sectors. Apple AAPL stock gained 2.5% and briefly hit above $186.86 to become the first company with a $3 trillion market cap. Wedbush analyst Dan Ives said consumer demand for the company’s iPhone 13 is outstripping supply by roughly 12 million units in the December quarter, which adds to additional tailwinds Ives sees for the company in the first half of 2022.

Tesla TSLA stock gained more than 13% Monday. The E.V.-maker reported delivering around 308,000 vehicles in 4Q and over 936,000 cars last year, which nearly doubled its 2020 deliveries. That broadly beat even bull-case estimates despite ongoing supply chain disruptions and chip shortages. Tesla is expected to deliver nearly 1.5M vehicles this year. Reopening stocks also pushed higher to start the new year despite rising cases of the COVID-19 omicron variant.

Airlines rose amid optimism for renewed travel, shrugging off concerns about holiday flight cancelations. Cruise liners also saw gains: Norwegian Cruise NCLH and Carnival CCL were top gainers in the SPX, both adding about 6%. On investors’ radars, today will be crude oil futures (/CL), which ticked higher Monday in anticipation of Tuesday’s OPEC+ meeting. Expectations are for the organization to increase production by 400,000 barrels per day. 

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. The content was purely for informational purposes only and not intended to be investing advice.

Image Sourced from Pixabay

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date of Trade
ticker
Put/Call
Strike Price
DTE
Sentiment
Posted In: GovernmentNewsRegulationsFuturesCommoditiesOptionsTravelTreasuriesGlobalEconomicsFederal ReserveMarketsGeneralPartner ContentTDAmeritrade
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!