New York stock indices closed the last session of the year on a fall, but ended the year with strong gains after scoring multiple record closes in 2021.
The broad Wall Street index, the S&P 500, closed the session down 0.26% to 4,766.18 points, but accumulated gains of 26.89% in 2021. The Dow Jones retreated 0.16% in the session, but rose 18.73% in the year, to 36,338.30 points, while the Nasdaq retreated 0.61% in the session and rose 21.39% in the accumulated of 2021, to 15,644.97 points.
In line with the rest of the last week of the year, today’s session saw low liquidity in financial markets, with many of the investors off. Today’s slight drop was attributed by analysts to last-minute moves to adjust tax issues and to position portfolios ahead of the turn of the year.
The year, however, saw a strong recovery, particularly in developed economies, which helped the S&P 500 record 70 closing records in 2021 – or more than a quarter of sessions – according to data from “Dow Jones Market Data” .
“This really was the year of economic recovery,” Sean Markowicz, investment strategist at Schroders, told Dow Jones Newswires. “In 2022, I see growth cooling off as massive monetary stimulus in response to the pandemic is unraveled.”
Much of this year’s rally is, however, due to a jump in some stocks such as Apple, Tesla and Microsoft. Shares of Microsoft and Tesla accumulated gains of about 50% for the year, while Apple’s rose more than 30% in the period.
In the sectorial cut, technology stocks – which concentrate a large part of the market value of the S&P 500 – accumulated gains of 33.35% in the year, in the broad index of New York. The biggest jump, however, was in energy stocks, which closed 2021 with gains of 47.74%, following a strong recovery in oil prices.
The Brent oil contract for March closed the session down 2.20% to $77.78 a barrel on ICE in London, but accumulated gains of 50.1% in 2021. The WTI contract for February, in turn, the day ended with a drop of 2.31%, to US$ 75.21 per barrel on the New York Mercantile Exchange, but advanced 55.0% in the accumulated result for 2021, recording the biggest annual jump in 12 years , according to data from FactSet.
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