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Dow Jones, S&P 500 Soars; Stocks Rally; Apple Nearing $3 Trillion Cap

Omicron jitters shaken off by investors in year-end Santa Claus Rally.

dow jones today (stock market news)

Stock Market Today Mid-Morning Updates

On Tuesday, the Dow Jones Industrial Average was up by 100 points. Tesla stock continues to climb as well, as it looks to top an early buy point. Furthermore, the S&P 500 opened to another record high today. This is the second consecutive trading session for the index to soar past its previous peak, marking its 69th record high of the year along in the last leg of 2021. This jump-started the anticipated year-end bull run known to investors as the Santa Claus Rally. 

Stocks tend to rise in light trading during the final days of the year, so it is often called the Santa Claus Rally. Some analysts however, predict relatively small gains for stocks in 2022 after two strong years.

The Centers for Disease Control and Prevention announced on Monday that it will be shortening its isolation recommendation for people who test positive to five days from ten, if those people do not have symptoms. Also, research out of South Africa has suggested that the Omicron variant can help boost immunity to the earlier Delta strain of the coronavirus.

Among the Dow Jones leaders, shares of Apple (NASDAQ: AAPL) is down by 0.19% on Tuesday while Microsoft (NASDAQ: MSFT) is up by 0.34%. Home Depot (NYSE: HD) continues to rebound from support while Nike (NYSE: NKE) is up by 0.19%.

EV companies like Rivian (NASDAQ: RIVN) are down by 1.86% today while Lucid Group (NASDAQ: LCID) is also down by 1.49%. Shares of EV leader Tesla (NASDAQ: TSLA) are up by 0.21% on Tuesday morning. Also, Chinese EV leaders like Nio (NYSE: NIO) and Xpeng Motors (NYSE: XPEV) were mixed ahead of next week’s December sales numbers.

[Read More] Best Stocks To Buy For 2022? 3 FAANG Stocks To Watch

Dow Jones Today: Housing Data

Following the stock market open on Tuesday, the Dow and S&P 500 are trading higher by 0.47% and 0.12% respectively. Nasdaq was down 0.16%. Among exchange-traded funds, the Nasdaq 100 tracker Invesco QQQ Trust (NASDAQ: QQQ)  is down 0.16% Tuesday, while the SPDR S&P 500 ETF (NYSEARCA: SPY) rose 0.14%.

Investors received a fresh round of housing data at 9:00 a.m. ET when the Case-Shiller Home Price Index was released. The index posted a 19.1% annual gain in October, down from a 19.7% annual rate the prior month. The 20-City Composite posted a 18.4% annual gain, down from 19.1% a month earlier. 

“Unfortunately, the rate of home price growth will be limiting for many young buyers who have yet to accumulate sufficient equity gains, and an expected increase in mortgage rates next year will present further challenges,“- CoreLogic Deputy Chief Economist Selma Hepp.

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Apple Nears $3 Trillion Market Cap Point Heading Into 2022

In other tech-related news, Apple seems to be trading towards a $3 trillion market cap this week. Sure, it may be trading down by 0.23% at $179.98 a share as of today’s opening bell. However, some would argue that the company’s shares still have space to grow moving forward. Now, to achieve this feat, AAPL stock would need to hit a value of $182.86 and above. By and large, the company is riding several tailwinds across its consumer tech focused portfolio. After all, we are amidst the holiday season where the company’s products often receive more attention from consumers.

Not to mention, even analysts across the board are bullish on the company’s shares going into the new year. Namely, Wedbush analyst Dan Ives provided a rosy update on AAPL stock just last week. According to Ives, Apple’s push towards the $3 trillion mark is inevitable. He cites the current hype around the launch of the expected augmented reality (AR)/ virtual reality (VR) headset. The analyst believes that this will be “another major growth catalyst for the stock”. All in all, I could see AAPL stock turning heads in the stock market today because of this.

Source: TD Ameritrade TOS

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Zoom Gains On Acquisition Of Event Management Solutions From Liminal

Zoom (NASDAQ: ZM) appears to be among the tech stocks taking center stage in the stock market today. Notably, the teleconferencing giant is acquiring several broadcasting assets created by communication tech startup Liminal. These are Liminal’s Zoom-based add-ons, ZoomOSC and ZoomISO. In essence, these software add-ons serve to enable the hosting of professional events virtually.

For Zoom, the current play bolsters its events management and productions portfolio, for the most part. The company also adds that this will help it “continue to be the leading comprehensive, one-stop, hybrid events management platform in the market”. By refining its current video communication offerings, Zoom appears to be appealing to its growing professional user base.

Source: TD Ameritrade TOS

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By Joe Samuel

Joe Samuel is a dedicated stock market researcher and financial contributor. His love for the stock market started at a young age learning from his grandfather. Joe earned a bachelor of science degree in corporate finance and business management. After finishing college, he went the route of an entrepreneur starting numerous businesses and eventually became a financial contributor to a number of outlets including Seeking Alpha, Invesitng.com, and actively contributes to FactSet. At StockMarket.com, Joe looks for emerging stories. One of his traits is identifying new trends before they become mainstream. Whether it’s a biopharmaceutical company debuting a novel treatment or the next technology start-up developing a new platform, Joe looks to be on the cutting edge of that trend.

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Joe enjoys covering several stock market sectors. These include commodities, finance, biotechnology, and technology; specifically AI & machine learning. His no-nonsense approach to the market gives readers a cut and dry view of the news that matters most and topics beginning to emerge as new trends in the stock market. He was early to the table with calls on things like the last gold rush in 2019 and has been able to identify influential events and how they could impact certain industries.

During his free time, he enjoys spending time with his family and polishing up one new stock market trends. He’s also an avid car enthusiast with a passion for classic and muscle cars.