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US stocks surge to fresh highs on first trading day of 2022 as Apple hits $3 trillion

Xinhua/Wang Ying/ Getty Images

  • US stocks hit new highs on Monday, starting 2022 with gains as investors sidestep concerns about rising COVID cases.
  • Apple crossed the $3 trillion market capitalization threshold on Monday for the first time ever.
  • Tesla jumped 13.5% after the company’s Q4 deliveries surpassed analyst expectations.
  • Sign up here for our daily newsletter, 10 Things Before the Opening Bell.

US stocks kicked 2022 off with fresh record closing highs for the S&P 500 and Dow Jones Industrial Average as investors continue to sidestep concerns about rising COVID-19 cases.

New daily cases of COVID-19 across the country surged to record highs throughout the holiday week, but hospitalizations and deaths remain well below prior peaks, backing up early research that the new Omicron variant is less deadly than prior strains. 

Shares of Apple briefly surged as much as 3% to hit an intraday high of $182.88, crossing the $182.86 threshold needed to register a $3 trillion valuation for the company. The stock closed at $182.01.

At its peak on Monday, Apple gained about $90 billion in market capitalization since Friday’s close, making its one-day gain bigger than the bottom 400 stocks in the S&P 500 index. 

Here’s where US indexes stood at the 4:00 p.m. ET close on Monday:

  • S&P 500: 4,796.56, up 0.64%
  • Dow Jones Industrial Average: 36,585.06, up 0.68% (246.76 points)
  • Nasdaq Composite: 15,832.80, up 1.20%

Another stock energizing bullish investors on Monday was Tesla, which reported record fourth-quarter deliveries that surpassed analyst estimates. The company delivered just under 1 million vehicles in 2021, representing year-over-year growth of 87%. Shares of Tesla jumped 13.5% in Monday trades.

Samsung plans to make digital art NFTs more accessible through its new TV lineup, which will include an integrated platform for an NFT marketplace.

Shiba inu coin is launching the DoggyDAO to give enthusiasts voting power over crypto projects. The DAO will be rolled out in phases, with a beta version called DAO 1 coming in a few days.

The LinksDAO raised more than $11 million in ether over the weekend as it seeks to purchase, operate, and maintain a real-world golf course for its newly minted members.

Rapper Eminem purchased a Bored Ape Yacht Club NFT for 123.45 ether, or about $462,000. The artist opened his OpenSea wallet less than a week ago and has already collected 22 NFTs. 

Cryptocurrencies traded lower on Monday, with bitcoin and ether falling about 2% and 3%, respectively. The cryptos continue to digest strong 2021 gains.

West Texas Intermediate crude oil rose as much as 1.06% to $76.01 per barrel. Brent crude, oil’s international benchmark, rose as much as 1.43% to $78.89 per barrel.

Gold fell as much as 1.38% to $1803.30 per ounce.  The yield on the 10-year Treasury jumped more than 13 basis points to 1.637%.

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