Apple became the first U.S. company to hit the $3 trillion market cap
The broader market locked in a win for the first session of 2022, steered mostly by the tech and banking sectors. In fact, in the second half of Monday's trading, Apple (AAPL) became the first U.S. company to reach a $3 trillion market cap, guiding the Dow to its 246-point win. Meanwhile, electric vehicle (EV) names Tesla (TSLA) and Nio (NIO), surged on strong delivery numbers. Bond yields are also on the rise, as the 10-year Treasury yield climbed to 1.6%.
Continue reading for more on today's market, including:
- Chip stock eyeing a surge to fresh record highs.
- Analyst sees potential in this golfing giant.
- Plus, PayPal's analyst praise; the blue chip breaking out; and Schaeffer's best podcast moments of 2021.
The Dow Jones Average (DJI - 36,585.06) added 246.8 points, or 0.7% for the day. Goldman Sachs (GS) led the gainers today, adding 3.3%, and Home Depot (HD) paced the laggards with a 1.5% fall.
The S&P 500 Index (SPX - 4,796.56) tacked on 30.4 points, or 0.6% for the day. Meanwhile, the Nasdaq Composite (IXIC - 15,832.80) moved 187.8 points higher, or 1.2% for today's session.
Lastly, the CBOE Volatility Index (VIX - 16.60) lost 0.6 point, or 3.6% for the day.
- The U.S. Food and Drug Administration (FDA) has widened the Pfizer (PFE) and BioNTech (BNTX) covid-19 vaccine booster shot eligibility down to age 12. The FDA also noted that the booster can be given five months, instead of six, after the second dose. (CNBC)
- U.S. Congresswoman Marjorie Taylor Greene's personal Twitter (TWTR) account was banned on Sunday, after multiple "misleading" tweets were published regarding covid-19. (Reuters)
- Analyst upgrade just sent PayPal stock higher.
- Blue chip breaks out to record highs after bull note.
- The best moments from Schaeffer's Market Mashup in 2021.
There were no earnings of note.
Oil Extends Surge, Gold Drops Off
After locking in its best annual rise in 12 years, crude prices marked a noteworthy win for 2022's first session, just ahead of a crude production decision from the Organization of the Petroleum Exporting Countries and their allies (OPEC+) that's due out Tuesday. February-dated crude added 87 cents, or 1.2%, to finish at $76.08 per barrel.
On the flip side, gold slid in Monday's trading, marking a nearly two-week low as Treasury yields and the broader market jumped. February-dated gold backpedaled $28.50, or 1.6%, to close at $1,800.10 per ounce.