The Market -- For The Archives -- Before The Santa Claus Rally Next Week -- December 23, 2021

WTI: near the close -- $73.73. Closed at $73.76.

S&P 500: trading above its all-time high. Closed at a new all-time high.

Every S&P 500 sector: on track for double-digit gains this year. Link here. 

Dow: within 15 points of going over 36,000 (again) -- trading at 35,985. Closed at 35,951.

First group "financial / economic" indicators:

• 10-Year Treasury: link here. Remains below 1.5%. Some suggest the TYT could go to 1%; most investors are equity-heavy; may move to balance with more bonds -- at least that's the "theory."
  
• DXY: link here. 96.15.
  
• Silver: link  here. $22.80
• CBOE volatility index: link here. Explained at Investopedia.17.81; down 4.4%. Wow.

Equities:

• XLNX: up over $5/share; but still off its highs

Best of class -- BofA, link here:

• Zoom (ZM)
• DVN
• FCX
• CFRUY
• KLAC
• TOELY
• RIO
• IBDRY

Also here, one in each S&P 500 sector:

• DIS
• BorgWarner (BWA)
• Mondelez (MDLZ)
• XOM
• Wells Fargo (WFC)
• CVS
• Eaton (ETN)
• F5 (FFIV)
• Eastman Chemical (EMN)
• Welltower (WELL)
• NRG

TSA: boardings in 24 hours exceeds that of 2019, pre-pandemic. Source. Seven day average remains almost 10% below that of 2019.

One person's interpretation:  

Feel like it’s a construct of recent risk off moves in growth and high beta. Demand rising for stable businesses with strong cash flow and dividends in the face of tightening monetary policy and general uncertainty. Almost like a flight to fixed income except you can’t own bonds. High beta definition here. 

EU crisis: Kosovo starts cutting electricity to most of its two million citizens. Bloomberg. 

EU crisis: US saving Europe again. Flotilla of US LNG tankers streaming to Europe. Link here.

Omicron: top five symptoms -- it's a "cold." Link here.