The three major US stock indexes posted weekly, monthly, quarterly and annual gains, marking the biggest advance in three years since 1999.
Businesses, consumers and the broader economy boomed considerably in 2021 as the way forward was felt amid an ever-changing landscape including the turbulent transition of power when riots occurred at the US Capitol on Jan. 6.
Other factors include new mutated versions of the coronavirus, labor shortages, generous fiscal and monetary incentives, faltering supply chains, increased demand and consequent price hikes.
Corporate earnings results on the Standard & Poor’s 500 Index deviated from all previous estimates made by analysts, and recorded year-on-year growth of 52 percent in the first quarter and 96.3 and 42.6 in the second and third quarters, respectively, according to Refinitiv data, which now expects annual profit growth at an average rate 22.3 percent for the fourth quarter.
Energy, real estate and microchips companies were among the top performers in 2021.
Preliminary data for today’s transactions indicate that the Standard & Poor’s 500 Index lost 12.63 points, or 0.26 percent, to close at 4766.10 points, while the Nasdaq Composite Index lost 94.93 points, or 0.60 percent, to 15,646.63 points.
The Dow Jones Industrial Average fell 63.07 points, or 0.17 percent, to 36.335.01.
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