The week 06.12.-10.12.2021
13 Dec, 2021

As anxieties over the new omicron version of the coronavirus faded, the S&P 500 Index posted its highest weekly increase since February.

Trading got off to a bright start after Dr. Anthony Fauci, the president's senior medical advisor, indicated in an interview over the weekend that the new omicron type did not appear to have "a tremendous deal of severity," though he cautioned that it was too early to say for sure.

The week’s economic news also had a positive impact on the stock market. The Labor Department announced on Thursday that 184,000 people applied for unemployment benefits in the previous week, the lowest number since 1969. The number of unfilled jobs in the United States also increased significantly more than predicted to a record 11 million, with most of the gains in the accommodation and food services industries.

Additionally, Powell suggested that speeding up the Fed’s balance-sheet tapering “by a few months” might make sense, since it would provide the FOMC more flexibility when it starts to hike rates, especially if inflation remains this high. Last week, several Fed governors echoed this sentiment.

The S&P 500 returned 3.60% this week, One Signal Xpress 2.62% and One Signal Xpert 2.31%. Year-to-date, One Signal is ahead of its benchmark index: the S&P 500 returned 25.17%, compared to 28.12% for One Signal Xpress and 27.03% for One Signal Xpert.

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