As stocks rallied sharply over the past week, with some reaching record highs, investors will be on the lookout, in the final week of 2021, for signs that this rally could continue into next year.
The S&P 500 set a new closing record Thursday after encouraging reports of lower-than-expected economic risks posed by the Omicron variant of COVID-19. After last week’s gains, he extended his year-end earnings to 26%.
However, uncertainty about the impact of the new stress on the economy could cause further fluctuations in the market, as many industries face labor shortages and continued supply chain disruptions. In this uncertain economy, here are three large-cap stocks that we’ll be watching closely over the next week:
Shares of Tesla (NASDAQ :) have rebounded strongly over the past week, rising more than 14% and topping $ 1,000 a share.
This powerful rally has given the bulls some hope that the electric carmaker will continue its uptrend next year, especially as CEO Elon Musk has almost finished selling much of his holdings.
Last week, Musk wrote on Twitter that he was “almost done” to reduce his stake in Tesla. So far, the richest man in the world has sold his shares in the company worth $ 15.4 billion. These sales are intended to cover a tax bill estimated at more than $ 10 billion due to the options you would have to exercise.
Dan Ives, an analyst at Wedbush, wrote in a note:
“This statement by Musk removes a glut of the action, with the selling pressure and negative perception issues now removed and the focus once again on the fundamental drivers of the street.”
Shares of Tesla closed at $ 1,067 on Thursday after last week’s rally that took the leading electric vehicle’s earnings to nearly 50% this year.
2. Delta Air
Airline stocks are ending the year under pressure, once again, due to the chaos caused by Omicron’s rapid expansion around the world.
Delta Air Lines (NYSE :) and other airlines announced Thursday that they had canceled dozens of flights for Christmas Eve due to COVID; almost 1,000 additional flights on Christmas Day. “Winter weather conditions and Omicron forced Delta Air Lines to cut 344 flights on Saturday, out of around 3,000 scheduled flights, after exhausting all options and resources to avoid these cancellations,” a company spokesperson said, adding that the impact is likely to persist into Sunday.
“The national peak in Omicron cases this week has had a direct impact on our flight crews and the people who run our operations,” United Airlines (NASDAQ :) said in a statement Thursday. “As a result, we have unfortunately had to cancel some flights and we warned affected customers before they showed up at the airport.”
Shares of Delta Air, America’s most valuable airline, fell 25% from its 52-week high. They closed Thursday at $ 39.30.
In addition to the hit from the pandemic, other pressures may continue to weigh on airlines next year. Most important of these is rising fuel costs, which threatens airline profits during the current quarter and beyond.
Among large caps in healthcare, Pfizer (NYSE :) ends 2021 on a high note.
Last week, US regulators approved the company’s COVID pill for emergency use. The drug, Paxlovid, is expected to be a powerful weapon against the virus once production begins, giving people at high risk of serious complications from the disease a way to avoid hospitalization.
In a large clinical trial, oral therapy reduced hospitalizations by 88% when given to high-risk unvaccinated patients within five days of symptom onset. The New York-based company, which is also the main supplier of the mRNA-based COVID vaccine, plans to increase production of the pill next year, which will be another source of income for PFE.
In November, the US government said it had ordered 10 million doses of the Pfizer pill for a price of nearly $ 5.3 billion, or about $ 530 per treatment. Shares of Pfizer closed Thursday at $ 58.71, after gaining nearly 60% for the year.
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