Day traders YOLOed. Meme stocks zigzagged. SPACs mushroomed. It was a madcap year for markets, though some of the excitement has started to fizzle.
U.S. stocks are racing toward a third consecutive year of big gains, with major indexes near records to end 2021.
Even with the recent turbulence from the Omicron coronavirus variant, the S&P 500 is headed toward a 27% advance for 2021 and has hit 70 highs. It is the third straight year of double-digit gains for the broad index, and the second in the midst of the Covid-19 pandemic. The Dow Jones Industrial Average and Nasdaq Composite have gained 19% and 22%, respectively, this year, helping send the major indexes to their best three-year performance since 1999.
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