Stock futures were quiet after the S&P 500 closed at a record high on Monday.
around the Christmas holiday. Apple also announced that it was closing its New York City stores to customers due to the spike in Covid cases.
Stocks tend to rise in light trading during the final days of the year, often called the"Santa Clause rally." However, many Wall Street pros predict relative small gains for stocks in 2022 after two strong years. "If you look around Wall Street, you see very tame expectations, and it's probably a reflection that we're probably pretty late in the cycle," Jim Lacamp, senior vice president at Morgan Stanley Wealth Management, said on"In addition to the S&P 500's record close, the Dow is within 1% of its intraday all-time high, while the Nasdaq is about 2% below its high-water mark.
For the year, the S&P 500 is up 27.6% for the year and the Nasdaq is up 23.1%. The Dow is the laggard, up 18.6%. It is a slow week overall for economic data, but investors will get a look at home prices on Tuesday when the October reading for the S&P/Case-Shiller Home Price Index is released before the bell.
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