US stocks rise to kick off 2022 as investors sidestep concerns around latest virus wave
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- US stocks surged on Monday, starting 2022 with gains as investors sidestep concerns about rising COVID cases.
- Daily COVID-19 cases surged to record highs over the holiday week, but hospitalizations remain below prior peaks.
- Tesla jumped as much as 7% after the company's Q4 deliveries surpassed analyst expectations.
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US stocks moved higher on Monday, starting 2022 with gains as investors continue to sidestep concerns about rising COVID-19 cases.
New daily cases of COVID-19 surged to record highs throughout the holiday week, but hospitalizations and deaths remain well below prior peaks, suggesting new variants like Omicron are more transmissible but less deadly.
One stock energizing bullish investors on Monday is Tesla, which reported record fourth-quarter deliveries that surpassed analyst estimates. The company delivered just under 1 million vehicles in 2021, representing year-over-year growth of 87%. Shares of Tesla jumped as much as 7% in early Monday trades.
Here's where US indexes stood shortly after the 9:30 a.m. ET open on Monday:
- S&P 500: 4,784.49, up 0.38%
- Dow Jones Industrial Average: 36,408.57, up 0.19% (70.27 points)
- Nasdaq Composite: 36,408.57, up 0.79%
Samsung plans to make digital art NFTs more accessible through its new TV lineup, which will include an integrated platform for an NFT marketplace.
Shiba inu coin is launching the DoggyDAO to give enthusiasts voting power over crypto projects. The DAO will be rolled out in phases, with a beta version called DAO 1 coming in a few days.
Cryptocurrencies like bitcoin and ether traded mostly flat in the first three days of 2022, as both continue to digest strong 2021 gains of 59% and 399%, respectively.
West Texas Intermediate crude oil dropped as much as 1.01% to $74.45 per barrel. Brent crude, oil's international benchmark, fell as much as 0.75% to $77.20 per barrel.
Gold fell as much as 1.02% to $1,810.00 per ounce.
from Business Insider https://ift.tt/3FRAAxm
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