December 29, 2021
US shares fell for the first time in five days.
The S&P 500 slipped 0.1%, pulling back from the benchmarks 69th record close reached on Monday. The Nasdaq 100 retreated on turnarounds in four-day rallies for the likes of Nvidia, Apple and Alphabet. The Dow Jones Industrial Average stayed in the green thanks to reopening beneficiaries such as Walt Disney Co. and Boeing Co.
Trading was choppy as moves were exaggerated by thin volumes, with shares changing hands in the major benchmarks about a third below daily averages for the past 30 days.
This weeks seasonally low volume mixed with unseasonably higher volatility at the individual stock level means that one errant headline could see a significant move in either direction as we get into the last stretch of 2021.
Global shares are on course for a third year of double-digit returns, powered by the U.S. surge. Analysts remainbullish on earnings forecasts even amid coronavirus waves and a shift by some key central banks toward tighter monetary policy to fight high inflation.
OneProSpecial Analyst
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