Dip Buying • Omicron Concerns • Week Ahead

November 29, 2021 | Hoya Capital

Dip Buying • Omicron Concerns • Week Ahead Daily Recap Nov 29 Written By Summary U.S. equity markets rebounded Monday following their largest one-day decline since February as emerging details about the Omicron Covid-19 variant suggest the effects may be less severe than initially feared. Bouncing back from declines of 2.1% last week, the S&P 500 rallied 1.3% today while the Mid-Cap 400 gained 0.2% and the Small-Cap 600 slipped 0.2%.

The tech-heavy Nasdaq-100 rallied 2.3%. Led once again by the "essential' property sectors - housing, technology, and logistics - real estate equities were mostly-higher today with the Equity REIT Index gaining 1.1%. Following a strong slate of housing data over the prior two weeks, Pending Home Sales jumped 7.5% in October, well above the consensus estimates, with every region reporting an increase in pending sales. Employment data highlights the economic calendar in the week ahead, headlined by ADP Employment data on Wednesday, Jobless Claims on Thursday, and the BLS Nonfarm Payrolls report on Friday.

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U.S. equity markets rebounded Monday following their largest one-day decline since February as emerging details about the Omicron Covid-19 variant suggest the effects may be less severe than initially feared. Bouncing back from declines of 2.1% last week, the S&P 500 rallied 1.3% today while the Mid-Cap 400 gained 0.2% and the Small-Cap 600 slipped 0.2%. The tech-heavy Nasdaq 100 gained 2.3%. Led once again by the "essential' property sectors - housing, technology, and logistics - ...