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The Long and Short of it, week ending 31 Dec 2021

The Long and Short of it, week ending 31 Dec 2021

Posted:
Publication Type: Market Commentaries

The S&P 500 Index and the Dow Jones Industrial Average closed higher last week but off record
highs reached Wednesday. The Nasdaq Composite Index, almost unchanged on the week, suffered
from falling semiconductor stock prices. For the year, the S&P 500 Index increased 26.9%, the
Nasdaq Composite Index rose 21.4% and the Dow Jones Industrial Average gained 18.7%. On-off
Omicron concerns, combined with relatively light volume, dictated market performance last week
with greatly increasing Omicron cases weighed against vaccine booster effectiveness and the
mildness of cases. It was a volatile week for the 10-year U.S. Treasury rate moving 7bps higher
Wednesday and then falling 5bps Thursday. For the year, the 10-year Treasury rate increased 60bps
from 0.9% to 1.5%. At week’s end, the S&P 500 Index increased 0.9% to 4,766.18, the Nasdaq
Composite Index eased lower by less than 0.1% to 15,644.97, the Dow Jones Industrial Average
increased 1.1% to 36.338.30, the 10-year U.S. Treasury rate increased 2bps to 1.51% and the U.S.
dollar (as measured by the ICE U.S. Dollar index - DXY) weakened 0.4%.

For More Detail read the following PDF.

The Long and Short of it, week ending 31 Dec 2021

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