U.S. stock market set to trade lower on New Year’s Eve

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US stock index futures were marginally lower on Friday in the last trading day of 2021, with risk appetite easing on New Year’s Eve.

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With most European markets closing or closing early on Friday, trading thin in US markets is also expected as investors close out a good year for global equities with economies recovering from the pandemic.

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Is the US stock market closed on Friday on New Year’s Eve? No, it doesn’t even close on Mondays. Why over here!

How are stock benchmarks trading?

Dow DJIA on Thursday,
S&P 500 index SPX, down 90.55 points or 0.3%, closed at 36,398.08,
The Nasdaq Composite Index comp, down 14.33 points, or 0.3%, to end at 4,778.73,
It fell 24.65 points to 15,741.56, down 0.2%.

What is driving the market?
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This is the last trading session of the week, month, quarter and year, which is one reason Wall Street is open on New Year’s Eve and will see regular trading hours as market participants close their trading logs.

However, after a strong start in the last week of December, thin holiday volumes could see some choppiness in action in the final session of 2021, as investors assess the way forward for the markets, a path tainted by a global pandemic. Which has been going on for almost two years till now.

Despite a recent drop in action, both the Dow and the S&P 500 closed record-highs this week, with growth for equities backed by the belief that the disruption from the Omicron version that caused COVID-19 will not be permanent.

The seven-day average of COVID-19 cases in the US rose at a parabolic pace to 344,543 on Thursday from 301,477 on Wednesday, nearly four times that of December 1 and 37% more than the January 2021 daily peak of 251,232. , According to A New York Times Tracker, Hospitalizations also continued to climb, but at a slower pace, as the daily average reached 81,847 on Thursday,

airlines Hundreds of flights canceled on Thursday Due to labor shortages after thousands cleaned up during Christmas weekend, and the Federal Aviation Administration also warns of potential delays linked to the virus at the federal agency. In addition, the Centers for Disease Control and Prevention recommends that Americans avoid taking cruises, whether they have been vaccinated or not.

JPMorgan Chase is a leading bank which has given its employees the option to work from home starting from 2022. The money-centre bank run by Jamie Dimon is “allowing more flexibility during the first two weeks of January to work from home (if your role allows) at your manager’s discretion,” Businesshala told, citing Thursday’s memorandum to employees.

However, in South Africa, where the omicron version of COVID was first identified, the government said the country’s latest viral wave had subsided and that it would easing of restrictions, while in the US daily covid The Centers for Disease Control and Prevention said relatively few people are being hospitalized or dying as a result of Omicron, after cases hit record highs. and White House medical experts Anthony Fauci has said that he is expecting The Omicron outbreak will peak by the end of January.

There is no US data due to the holiday and the bond market will close an hour earlier on Friday at 2 p.m. Eastern.

Which companies are in focus?
How are other properties performing?


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