Stock Market: Year-end Wrap-up

How did the market round of 2021?

Micah Shin - Senior Correspondent, USA

12.00am, January 1, 2022

How did the indices perform?

All three indices ended this year scoring their largest three-year advance since the end of the 20th-century. The S&P 500 was up 26.7%, DJIA up 18.7%, and the Nasdaq Composite added 21.4%. This year’s top performers included the energy, microchips, and real estate sectors. Despite the uncertainty caused by the omicron variant, the Treasury yield has settled. The NYSE FANG+ index attained a ~20% advance on the year, with Alphabet Inc. recording the largest annual advance.

"Jingle bells all the way": E-commerce this holiday season

Retail sales are up 11% compared to the holiday period (Nov. 1 to Dec. 24) of 2019 which is a staggering 8.5% increase compared to last year’s holiday period. Not only that, in-store sales up by 8.1% and e-commerce sales up 11% compared to last year. Postulations for the influx in sales this holiday season can be traced back to discussions about supply chain and labor supply issues. These concerns ultimately led consumers to purchase gifts ahead of time in order to avoid the retail rush. As many look to curbside pickup services and online retail stores for convenience, the effects of Covid-19 on holiday shopping patterns have become apparent.

Financial Titbits: The meteoric rise of NFTs

What are NFTs?

NFTs are non-fungible tokens. “Non-fungible” essentially refers to something that cannot be copied or interchanged. Bitcoin, on the other hand, is fungible. You can exchange one bitcoin for another, and you will end up with the same thing. Each NFT is one-of-a-kind, and its authenticity is certified. These tokens exist on a blockchain. Blockchains are systems that are responsible for recording information in a manner that is difficult to alter or hack. NFTs include digital artwork, music, collectibles, tweets, and essays. The most expensive NFT sold (as of 12/27/21) is The Merge by Pak. This artwork was sold for $91.8 million. These exorbitant digital pieces make one wonder: Why would anyone pay that much for pixels? Some claim that NFTs are the future of fine art collecting. Although anyone can just take a screenshot of the NFT, one person has ownership. In other words, they own the original–just like any physical piece of art. NFTs have had a booming year, with the rise of big names like CryptoPunks and Bored Ape. The NFT market has generated a lot of hype, with Hollywood A-listers to social media influencers buying in on the craze.