Market check: Stocks kick off potential Santa Claus rally in final trading week of 2021

Yahoo Finance’s Jared Blikre breaks down how stocks, bonds, and cryptocurrencies are performing in early trading and the outlook for a Santa Claus rally.

Video transcript

- All right, we're gonna take it over to Jeremy Blikre, who is watching some of these opening numbers here on this final trading week of the year. Jared, what stands out to you here today?

JARED BLIKRE: Yes, well, we can finally say that we are in the midst of the Santa Claus rally, kind of. But I wanna go to the Wi-Fi Interactive where you can check out the day's price action. We got the Dow up about 84 points, as you can see right there. And let's just get a little bit of a longer term picture. I'm gonna put a two-month candlestick chart up.

And you can see climbing right back up into this potential resistance area. That caused a little bit of trouble for stocks back in September. Excuse me, earlier in December.

But you take a look at the S&P 500, marching up. That's-- that's gotta be close to another record high. And if it's not, it's gonna be there right with it pretty closely.

And the Russell 2000. This is a non-trending market if I've ever seen one, the entire year basically going sideways. We just came off the lows, but we are heading higher.

You can see on this two-month chart, we do have a nice three-day rally. So I have to see if this continues today. But nevertheless, I do wanna get a chart of the bond market.

And here's a five-- the five-year T note yield. And that's up just fractionally of one basis point there. So not really a lot going on. 10-year, just slightly negative.

And the 30-year, let's get a read on this. 30 years down about two basis points. So the yield curve slightly contracting here. We did see at steepen quite a bit last week and that supported the risk on rally that we've been tracking.

Also wanna get a check of Bitcoin. Not a whole lot of action over the weekend, but it is holding under 51,000, or right around 51,000. 53,000 really the level that's caught most traders' eyes.

So have to see if it can punch above that this holiday shortened week. But not shortened for Bitcoin. Bitcoin never sleeps.

And also, checking out the NASDAQ 100. We can see a lot of green. Mega caps, by and large, holding on to some nice gains here.

You can see Facebook up over 1.5%. Tesla, Tesla up 2/3 of a percent. Tesla's had a pretty nice run. Let's check out the trailing five days.

It was only last Monday. That was the last nasty sell off that we had. But since then, it's been flying high. You can see up 15% over the trailing week here.

Also wanna get a check on the travel sector. Some not great news over the weekend regarding omicron. Hasn't spilled into the greater market, but definitely seeing the cruise lines having some trouble here. Carnival and Norwegian Cruise Lines each down about 5%. American Airlines and United each off more than 3.5%.

And this leads us to our sector action, we can see only energy. Only energy in the red. That's down about a 1/2 of a percent in the lower right of your screen.

But tech and communication-- communication services and health care, those are the three leaders. So pretty interesting to see that. But again, not too many big market-movers just yet, but that's what we would expect this time of year. Hopefully, not too many big surprises this week in terms of news.

- Jared, I'm glad you hit those travel stocks. Can you Zoom in on-- on Airbnb? Just curious on how that stock is trading given everything we have seen with flight delays and cancellations, you name it.

JARED BLIKRE: Yeah. I'm on the Wi-Fi Interactive here. Over the last five days, it had-- it did get a nice pop, up about 8%. And that was part of the risk at rally that we saw a lot of stocks participate in.

Here's what it's done in the month of December. So you can see still down about 1%. And let's check out the year to date. A lot of sideways action there, though we did get that nice bump in November. Gave it back. And we're right back into the lower end of the range, but still sitting on gains of about 16% for the year, Brian.

- Jared, are we at a new record for the S&P as we-- as we get underway on this--

JARED BLIKRE: Let me check. Yeah, it looks like--

- --holidayish time.

JARED BLIKRE: It looks like we just hit an intraday record in the S&P 500. And I'm also seeing some records in Yum Brand. Yum Brands, excuse me. Abby, Verisign, Fortinet, and a couple of others. Anthem as well. So a few-- a few record highs there that we can talk about today.

- Nice. Working the magical Jared Blikre spreadsheets, there, in real-time as we get all the [INAUDIBLE] and get the records. Thanks so much, Jared. Appreciate it.