U.S. Futures continues to rise after the Dow and S&P 500 records

US stock futures were higher in pre-market trading on Tuesday after the Dow Jones Industrial Average and S&P 500 marked a new record close on the first trading day of 2022.

Dow futures rose 107 points, or about 0.2%. S&P 500 futures rose 0.2% and Nasdaq 100 futures added 0.1%.

Energy stocks and economic recovery were among the first to win, although omicron cases rose more than 1 million on Monday as the virus continues to spread across the country. Shares of Halliburton rose 2.1% in pre-market trading as crude oil prices rose and Morgan Stanley improved its rating for the oil services company.

Investors this week bet that the economy can overcome the latest jump in the Covid case and maintain the momentum of the stellar 2021 for the markets.

Elsewhere, cruise operators continued to recover, with shares of Carnival up 2.8%, Norwegian Cruise up 2.2% and Royal Caribbean up 2.1%. MGM Resorts also grew 1.8% and Alaska Air rose 1.6% as part of resumed trading.

“We believe that there is room for more shares, despite the strong development so far,” JPMorgan strategists, led by Mislav Matejka, wrote in a note on Tuesday. “The new version turns out to be softer than the previous ones.”

Shares of Ford Motor rose more than 3% in early trading after opening orders for its F-150 Lightning electric pickup this week. The company also announced plans to nearly double its production plan to 150,000 a year.

Shares of Under Armor rose 3.5 percent after Baird improved its stock rating, saying it would benefit from a cyclical recovery in earnings.

Apple shares also rose before the market, rising another 0.4% a day after the company briefly became the first to reach a market capitalization of $ 3 trillion.

On Monday, major stock indices rose, raised by the technology sector. The Dow Jones Industrial Average added 246 points to close to a record. The S&P 500 also recorded a profit, rising 0.6% to close the all-time high.

The Nasdaq Composite was relatively better, gaining 1.2% as Meta Platforms, Amazon and Google’s parent Alphabet closed in the green.

Tesla added 13.5% after the company exceeded delivery expectations for the fourth quarter and full year.

Shares such as airlines and cruise lines also rose on Monday. The jump in bond yields raised bank stocks.

The study on vacancies and turnover in November will be published on Tuesday at 17:00. The JOLTS report is being closely monitored by the Federal Reserve and elsewhere for signs of labor market tightness.

The December ISM production PMI is also due to be released on Tuesday at the same time.

Monday’s record highs come after markets ended a strong 2021 last week. The S&P 500 rose nearly 27% year-on-year, with the Nasdaq Composite and Dow also making strong gains.

 Varchev Traders


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