The broader market locked in a win for the first session of 2022, steered mostly by the tech and banking sectors. In fact, in the second half of Monday's trading, Apple (AAPL) became the first U.S. company to reach a $3 trillion market cap, guiding the Dow to its 246-point win. Meanwhile, electric vehicle (EV) names Tesla (TSLA) and Nio (NIO), surged on strong delivery numbers. Bond yields are also on the rise, as the 10-year Treasury yield climbed to 1.6%.
The Dow Jones Average (DJI - 36,585.06) added 246.8 points or 0.7% for the day. Goldman Sachs (GS) led the gainers today, adding 3.3%, and Home Depot (HD) paced the laggards with a 1.5% fall.
The S&P 500 Index (SPX - 4,796.56) tacked on 30.4 points or 0.6% for the day. Meanwhile, the Nasdaq Composite (IXIC -15,832.80) moved 187.8 points higher, or 1.2% for today's session.
Lastly, the CBOE Volatility Index (VIX - 16.60) lost 0.6 points or 3.6% for the day.
OIL EXTENDS SURGE, GOLD DROPS OFF
After locking in its best annual rise in 12 years, crude prices marked a noteworthy win for 2022's first session, just ahead of a crude production decision from the Organization of the Petroleum Exporting Countries and their allies (OPEC+) that's due out Tuesday. February-dated crude added 87 cents, or 1.2%, to finish at $76.08 per barrel.
On the flip side, gold slid in Monday's trading, marking a nearly two-week low as Treasury yields and the broader market jumped. February-dated gold backpedaled $28.50, or 1.6%, to close at $1,800.10 per ounce.
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