Hyman’s predictions for 2022
Evercore Chairman Ed Hyman joins ‘Kudlow’ to discuss what is to come in the stock market this new year.
Investors continue to celebrate the new year as U.S. stocks eye another record-setting session ahead of key reports on jobs and manufacturing.
Futures for all three of the major averages are higher by about 0.2%, putting the Dow Jones Industrial Average and S&P 500 on track to extend records hit Monday.
|I:DJI||DOW JONES AVERAGES||36585.06||+246.76||+0.68%|
|I:COMP||NASDAQ COMPOSITE INDEX||15832.798557||+187.83||+1.20%|
Data on the number of job openings or JOLTS, due at 10 a.m. ET, is expected to come in at 11.075 million, just below the record 11.098 million reached during July. The ISM’s manufacturing purchasing managers index for December is expected to slip just over a point from November to 60.0, still signaling growth.
|USO||UNITED STATES OIL FUND L.P.||54.83||+0.47||+0.86%|
Oil also ticked higher to $76 per barrel ahead of OPEC's first meeting of 2022. The allied oil-producing countries are expected to press ahead with restoring cutbacks in output made during the depths of the coronavirus pandemic as hopes grow that travel and demand for fuel will hold up despite the rapid spread of the omicron variant.
FORD DOUBLING F-150 LIGHTNING PRODUCTION
|F||FORD MOTOR CO.||21.77||+1.00||+4.81%|
In stocks, Ford is in focus after the automaker has confirmed that it is increasing the planned capacity of the factory that will build the F-150 Lightning by nearly double to 150,000 trucks annually due to higher than expected demand.
Apple hit the $3 trillion mark Monday intraday, becoming the first U.S. company to hit the milestone. Microsoft is the next company closest to that value trading around $2.5 trillion.
Overseas Japan’s benchmark Nikkei 225 jumped 1.8% to 29,301.79 in Tokyo's first trading day of 2022. Shares also rose in Australia, South Korea and Hong Kong, but edged lower in Shanghai.
The Associated Press contributed to this report.
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