S&P 500 opens at record after holidays, but airline shares slide following Covid cancellations
U.S. stock indexes rose Monday as markets reopened after the Christmas holiday and investors assessed the spread of the omicron Covid-19 variant.The Dow Jones Industrial Average gained about 115 points, or 0.3%. The S&P 500 added 0.4% and the Nasdaq Composite ticked up 0.4%.Airline stocks fell after a holiday weekend that saw thousands of flights canceled due to Covid-related issues. The rampant spread of the omicron variant led to a staffing shortage at a time when airlines were looking to ramp
As traders return from the holiday-shortened week, the price action heading into the new year will be closely monitored — especially given the relatively light economic data and earnings calendar for the coming days.The S&P 500 is entering the period known for ushering in the so-called Santa Claus Rally, or seasonally strong timeframe for stocks at the end of each year.According to data from LPL Financial, the Santa Claus Rally period encapsulates the seven days most likely to be higher in any
Apple’s market capitalization is once again closing in on $3 trillion. If and when it hits the mark, which will require shares to reach $182.86, Apple will be in historic territory. And analysts are loving it.This month alone, Katy Huberty of Morgan Stanley, Samik Chatterjee of JPMorgan, and Amit Daryanani of Evercore ISI have raised their price targets on the stock to $200. And on Tuesday BofA Global Research’s Wamsi Mohan upgraded the stock from neutral to buy and raised his price target for