The Dow Jones Industrial Average and S&P 500 closed at records on Monday.
. Apple became the first ever $3 trillion market capitalization company after rising 2.5% to a new record.
Reopening plays like airlines and cruise lines also rose on Monday. A jump in bond yields lifted bank stocks. "Optimism on global economic growth and earnings momentum reviving since mid-December continued to grow in the first day of the New Year," said Jim Paulsen, Leuthold Group chief investment strategist. "Those stocks most closely tied to better economic growth did the best [Monday] but were joined by new-era sectors including technology and communications."
On Tuesday, November's Job Openings and Labor Turnover Survey will be released at 10:00 a.m. The JOLTS report is closely watched at the Federal Reserve and elsewhere for signs of labor market tightness.Monday's records moves come after markets closed out a strong 2021 last week. The"The well-known Santa Claus Rally ends on Tuesday. The good news is stocks look like they'll be higher during these bullish 7 days," said Ryan Detrick of LPL Financial.
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