Monday's Market Minute: Last Trading Week of 2021

It’s a slow trading week as we close out 2021 and look forward to 2022. However, because there is typically less volume, investors should be aware that prices can make bigger swings. While there are no earnings to keep an eye on, economic data includes the advance International Trade in Goods report on Wednesday, the Pending Home Sales Index, Jobless Claims, Chicago PMI, and the Fed Balance Sheet at the end of Thursday.

The omicron variant is well-embedded in the U.S., and while sentiment may be more positive due to lower hospitalizations despite its much higher transmissibility, it is still making an economic impact. Airline stocks are down this morning after thousands of flights were canceled over the holiday weekend due to COVID-related issues, including lack of staff. However, Pfizer’s and Merck’s antiviral pills are on the way after the FDA’s EUA, and will hopefully help make a dent in this new wave.

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