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Bob Carey
Chief Market Strategist
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  US Stock Markets Ended Dec. 31, 2021

 
Last week was a quiet trading week as the S&P 500 index returned 0.87% and closed near all-time highs. The S&P 500 index returned 28.68% in 2021, the 3rd best year since the turn of the century, trailing only 2019 and 2013. Cyclical sectors Energy, Real Estate and Financials along with Information Technology outpaced the broad market in 2021. While Utilities, Consumer Staples and Industrials were the laggards last year. Due to Omicron variant concerns, the CDC recommended avoiding cruise line travel regardless of vaccination status. Predictably, Norwegian Cruise Line Holdings, Carnival Corp. and Royal Caribbean all fell over 3% last week. Tesla Inc. fell after announcing two large recalls of vehicles last week. The EV maker announced a recall of 300,000+ Model 3 cars having to do with a rear-view camera issue and a recall of 119,000 Model S vehicles for a front trunk problem. Overall, the equity markets didn't seem too concerned as Tesla stock returned -0.96% last week. Western Digital rallied 6.55% last week, after their competitor in the NAND flash memory market Samsung Electronics announced they were adjusting operations in some Chinese production facilities due to coronavirus concerns. Looking ahead to next year, we remain bullish on equities especially for the long-term investor. The economy remains strong as jobs and corporate earnings have been improving. In equities, we always recommend paying attention to valuations, particularly in the high growth space as higher inflation and interest rates remain headwinds.
Posted on Monday, January 3, 2022 @ 8:18 AM • Post Link Share: 
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These posts were prepared by First Trust Advisors L.P., and reflect the current opinion of the authors. They are based upon sources and data believed to be accurate and reliable. Opinions and forward looking statements expressed are subject to change without notice. This information does not constitute a solicitation or an offer to buy or sell any security.
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