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S&P 500 on Track to Sustain Growth, Hit All-Time High

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The S&P 500 was on course to open at a fresh record high on Tuesday, as investors remained cool amid the disruptions brought about by the Omicron variant.

Source: Reuters

GSPC is up 0.26%

The S&P 500 is on track to continue its rally after posting its best four-day rally since November on Monday, with an optimistic outlook on the US economy driving investors to largely disregard disruptions.

This comes as the Centers for Disease Control and Prevention (CDC) reduced the suggested isolation time for individuals with asymptomatic cases of COVID-19 to five days, versus the earlier recommendation of 10 days.

Major markets are also in the Santa Claus rally, which is historically a strong period. CFRA Research data indicates a 1.3% average growth in the S&P 500 in the last five trading days, and the first two days of the year since 1969.

S&P 500 e-minis were up 11 points or 0.23% as of 8:16 a.m. ET.

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