https://www.captis.com/wp-content/uploads/2021/12/211206084412-04-nyse-1129-super-169.jpg 619 1100 CAPTIS https://www.captis.com/wp-content/uploads/2021/01/captis_full_large.png CAPTIS2021-12-07 06:56:002021-12-07 07:59:50Wall Street extends rally
The S&P 500 (, Wall Street’s broadest gauge, opened up 1.3%, while the )Dow ( rose 0.9%, or 330 points. The )Nasdaq Composite (, which had lagged behind the others on Monday, gained 1.9%. )
“Forget about a ‘turnaround’ for now, this Tuesday is looking more like a terrific one,” said analysts at Bespoke Investments of the rally.
It has been a volatile few weeks in the market, which was first shaken by worries about the Omicron variant, then by the Federal Reserve’s announcement that it might end its pandemic-era stimulus program sooner than expected.
But Monday’s ascent may have had more to do with technical factors: It’s the end of the year and the major indexes have decent returns to show for themselves. The S&P is up more than 22%, while the Nasdaq has climbed more than 18% and the Dow more than 15%. For investors rethinking where they want their money, this might be a time of shifting their portfolio around.
Next week Friday is also what’s known as “quadruple witching” when contracts on four types of financial assets expire. It’s often a period of some volatility, and investors may already be preparing for it.
This is not a CAPTIS article. Originally, it was published here.