Stocks Rally To Jumpstart 2022, Tesla Surges And Apple Hits $3 Trillion

The stock market started off the new year on a high note Monday, rising sharply as investors bet the U.S. economic recovery will continue despite a surge in Covid cases over the holiday season.... [+]The Dow Jones Industrial Average rose 0.7%, around 250 points, while the S&P 500 gained 0.6% and the Nasdaq Composite 1.2%.

Stocks usually rally in the first week of a new year, according to a note from Bank of America, with the index posting an average gain of about 1.6% and rising 11 out of the last 13 calendar years.after shares of the iPhone maker rose 2.5% on Monday, adding to last year’s nearly 34% gain. .Airlines, which have struggled with thousands of flight cancellations over the holidays due to surging coronavirus cases—Key Background:

Monday’s moves come after the stock market closed out a stellar year last week. The S&P 500 rose nearly 27% in 2021, while the Dow and Nasdaq gained around 19% and 21%, respectively. “It’s a new year, but things look a lot now like they looked in 2022 with markets in rally mode and Covid cases continuing to surge,” said Bespoke Investment Group in a recent note. There will be ongoing uncertainty around coronavirus cases and the fast-spreading omicron variant.

And Recalled 500,000!

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