Market Recap – January 3rd
Markets had a great day on the first trading day of 2022 with the S&P 500 up 0.64%, the Dow Jones up 0.68%, and the NASDAQ up 1.2%. These are the last 2 days of the Santa Rally, and investors are looking to end it with a bang. The FAANG stocks performed exceptionally well, and trillion-dollar counterpart Tesla saw their shares rise by more than 10 percent after it was reported that their annual deliveries rose by 87 percent. However, it was important to note that even with the NASDAQ outpacing the rest of the market, software stocks struggled today, especially Datadog, with their shares down more than 8 percent. Interest rate hikes continue to spook these stocks with lofty valuations, so this could be something to look out for.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.