01|04|2022

Nothing to See Here… | December 31, 2021

AUTHOR: Jason J. Roque, MS, CFP®, APMA®, AWMA®
TITLE:       Investment Adviser Rep – CCO
TAGS:   S&P 500, FRB, CPI, Rates, Sentiment

Nothing to see here. Markets jumped out to open the week and then did a whole lot of nothing…

Monday

The Santa Claus rally got under way Monday morning. There were hundreds of Christmas eve flights cancelled due to Omicron. These should have led to dampened investor moods as it could signal the potential for a shutdown. They did not; the S&P climbed more the 1% to open the week.

Tuesday

The rally from Monday did not sell off, but it also did not advance. The trade activity on Tuesday was decidedly sideways as the S&P 500 lost 0.1%. This came as trading volume continued to be light amidst the holidays.

Wednesday

Trade was boring again on Wednesday as markets rose marginally. The S&P 500 rose a whopping 0.11%. Again, trading volumes were light, and the news feed was practically non-existent.

Thursday

Markets soared to open the week and made the remainder of the week boring as markets pretty much remained little changed on Thursday. The S&P 500 fell 0.28%.

Friday

The continued trend of light trading persisted. We expect this to change next week as traders get back to work. Movement was narrow across the day with the S&P 500 little changed on the day.

Conclusion

The opening day of the week did not set the tone for the week, but it did set the desired rise. This was evident by the minimal move throughout the remainder of the week. Granted, news was light. However, movement would have been more pronounced had there been more news to trade on. The S&P 500 ended up gaining 0.68% for the week and 26.89% for the year.

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