Unless things change considerably this week, U.S. equity markets will once again have a strong year, with the S&P 500® Index (“S&P 500”) again at all-time highs on December 27. Other major indices are up strongly as well. The year seems to be ending much as the way it began – optimism that Covid in its various iterations will cease to be the dominant factor driving economies and markets worldwide. The recent explosion in the Omicron version of Covid caused a late inning scare for equity markets, but even that may be waning as data suggests it spreads quickly but is generally not severe, especially for vaccinated people.
As always, there are many things to worry about.
Our December 2021 market commentary provided by Peter W. Tuz, CFA, CFP® President & Portfolio Manager, Chase Investment Counsel.