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New York Stocks: ‘Santa Claus Rally’ Continues with S&P 500 Record

Tuesday, 12/28/2021 4:21 PM from

dpa-AFX

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The New York Statue of Liberty. New York is the stock exchange metropolis of the United States. pexels.com

NEW YORK (dpa-AFX) – Wall Street continued the “Santa Claus Rally” it had started the day before on Tuesday. In the absence of new bad news about the Coronavirus variant Omikron, investors were already betting on a strong stock market year in 2022 on the last trading days of the year, wrote analyst Jochen Stanzl from broker CMC Markets.

The market-wide S&P 500 index rose to another record high and was most recently 0.13 percent up at 4797.60 points. For the Dow Jones Industrial it went up 0.54 percent to 36,499.91 points. The US benchmark index is thus approaching its previous high of 36,565 points on November 8th. In contrast, the tech-heavy Nasdaq 100 fell on Tuesday by 0.20 percent to 16,534.42 points.

The “Santa Claus Rally” is a seven-day period that includes the last five trading days of the old year and the first two trading days of the new year. Since 1969, the S&P 500 index has risen by an average of 1.3 percent during this period./edh/he

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