The last week of 2021 is off to a good start, with each of the three major indexes nabbing a fourth-straight daily win. The Dow added 351 points, while the S&P 500 notched a fresh intraday high and record close, as investors cheered the "Santa Claus rally." The tech-heavy Nasdaq also walked away with solid gains, after new data confirmed the Covid-19 omicron variant is less severe than other strains. Also contributing to investor sentiment today was strong holiday retail sales data, which showed an 8.5% year-over-year growth rate -- the fastest in 17 years. Meanwhile, the Cboe Volatility Index (VIX) registered its fourth consecutive loss.
The Dow Jones Average (DJI - 36,302.38) rose 351.8 points or 1% for the day. Microsoft (MSFT) led the gainers, adding 2.3%, while Walt Disney (DIS) paced the laggards with a 0.5% fall.
The S&P 500 Index (SPX - 4,791.19) added 65.4 points, or 1.4% for the day. Meanwhile, the Nasdaq Composite (IXIC - 15,871.26) jumped 217.9 points or 1.4% for the day.
Lastly, the CBOE Volatility Index (VIX - 17.68) shed 0.3 points or 1.6% for the day.
GOLD SNAPS WIN STREAK AS U.S. DOLLAR STRENGTHENS
Oil prices notched a solid win on Monday, reverting into positive territory by the end of the session as investors seemed to largely brush off rising Covid-19 infections to favor riskier assets. In turn, February-dated crude added $1.78, or 2.4%, to finish at $75.57 per barrel.
Meanwhile, gold prices settled lower as the U.S. dollar strengthened, snapping a three-day win streak. The precious metal was still able to hold above the psychologically significant $1,800 level, however. February-dated gold fell $2.90, or 0.2%, to close at $1,808.80 per ounce.
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