Stocks Pull Back, But End Near All-Time Highs With 1 Day Left  Image: Bigstock Stocks pulled back yesterday with the Dow, S&P and Nasdaq closing modestly lower. That also ended the Dow's winning streak at 6 days. The S&P and Nasdaq's streak was capped at 4 days earlier in the week. With just 1 more trading day left in 2021, the MTD tally now stands at 5.55% for the Dow, 4.64% for the S&P, and 1.31% for the Nasdaq. YTD, those returns come in at 18.9% for the Dow, 27.2% for the S&P, and 22.1% for the Nasdaq. In other news, Weekly Jobless Claims came in better than expected, falling by -8,000 to 198K vs. views for 205K. This was not only the lowest reading since the pandemic began, but it was the lowest reading in 52 years! The Chicago Purchasing Managers Index also came in better than expected at 63.1 vs. the consensus for 62.0, underscoring the manufacturing sector's continued expansion in the region. There's nothing on the docket report-wise today, other than the Baker Hughes Rig Count report. The equity markets are open for a full trading day. Although, volume is likely to be lighter. The bond markets, however, will close early at 2:00 PM ET. What a year it's been. 2021 had its challenges, with Covid at the top of that list for the second year in a row. From an economic standpoint; inflation, supply chain disruptions, and worker shortages topped the list. But in spite of all that, the economy has continued its impressive rebound. And the markets have performed nothing short of spectacular. If all goes well, today could make those gains even a little more spectacular. But either way, 2021 will truly be one for the record books. Not just for stocks, but in so many other ways as well. Happy New Year! See you in 2022,  Kevin Matras
Executive Vice President, Zacks Investment Research | 
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