Stock Market Today: Stocks Meander Lower in 2021's Penultimate Session
The S&P 500 and Dow, both eying more record-high territory for most of Thursday, retreated in the session's final minutes.

The path of least resistance for American equities appeared to be higher for most of a slow-news, low-volume Thursday trading session, but an afternoon swoon resulted in modest losses for the major indexes.
The U.S. on Wednesday set a single-day record of 488,000 new COVID cases, according to the New York Times – a figure suspected to be undercounting the number of actual cases given the rise in at-home tests and the number of asymptomatic cases that have gone undetected.
Wall Street, however, is keeping a stiff upper lip.

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"Despite global surges in COVID cases, the markets are reflecting the new reality that COVID is here to stay, albeit more on our terms than its," says Kevin Philip, managing director at Bel Air Investment Advisors. "With vaccines, boosters, treatments, and rising herd immunity, it seems more and more like a manageable virus in line with colds and flus than what it originally was."
A Centers for Disease Control and Prevention recommendation that Americans of all vaccination statuses should avoid embarking upon cruises did manage to dent that industry, though. Norwegian Cruise Line (NCLH, -2.6%), Carnival (CCL, -1.3%) and Royal Caribbean (RCL, -1.1%) all finished in the red.
The Dow Jones Industrial Average (-0.3% to 36,398) and S&P 500 (-0.3% to 4,778), poised for most of the day to set new highs, closed slightly lower, as did the Nasdaq Composite, which declined 0.2% to 15,741.
And a reminder: We've got one more day of trading together in 2021, as the stock market is open for New Year's Eve.
Other news in the stock market today:
- The small-cap Russell 2000 just barely slipped into negative territory, suffering a marginal decline to 2,248.
- U.S. crude oil futures kept on climbing for the seventh consecutive session, adding 0.6% to $76.99 per barrel.
- Gold futures recorded a modest 0.5% improvement to $1,1814.10 per ounce.
- Bitcoin prices mirrored the major indexes, declining a slight 0.3% to $47,200.00. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m.)
- So about that Biogen (BIIB) gain yesterday ... The biotechnology company soared by more than 9% on Wednesday in the wake of reports that South Korean tech conglomerate Samsung was in talks to buy it. However, BIIB shares dropped 7.1% on Thursday after Samsung denied that it was in any discussions with Biogen.
- Virgin Galactic (SPCE, +6.1%) jumped on Thursday amid the public-markets debut of its satellite-launching spinoff, Virgin Orbit (VORB). The company went public via special-purpose acquisition company (SPAC) NextGen Acquisition Corp. II, and didn't receive much of a warm reception, declining 1.2%.
A Little Advice for New Investors (And Seasoned Ones, Too.)
We're about to enter 2022 with many more investors among our ranks than we started with in 2020 and even 2021. The past two years have seen millions of fresh faces open up brokerages, IRAs and 401(k)s amid 2020's dip-buying opportunities and a sudden realization of the wealth investing can build.
Welcome, to those of you who have joined the investing world … and brace yourselves.
"Those who began investing in the post-COVID environment have only seen an investing climate that was bolstered by unprecedented monetary and fiscal stimuli," says Interactive Brokers Chief Strategist Steve Sosnick, who expects more volatility in 2022 than we've seen since the end of the COVID bear market. "It is said that placid seas make lousy sailors, and these new investors have only sailed through the calm seas with a steady tailwind at their back.
"Many will have to learn whether to adapt their strategies in a period that is likely to be less favorable to the speculative tactics that have worked for so many."
We couldn't agree more – indeed, even veteran retail investors can have difficulties ignoring volatility. So while articles highlighting stock opportunities and fund picks can have plenty of utility for newer investors, it's just as important to learn how to steel yourself mentally for the long haul.
That's why we've recently reached out to several financial professionals for their advice on how beginners can adopt the right mentality for successful investing. Check out their suggestions.
Kyle Woodley is the Editor-in-Chief of Young and The Invested, a site dedicated to improving the personal finances and financial literacy of parents and children. He also writes the weekly The Weekend Tea newsletter, which covers both news and analysis about spending, saving, investing, the economy and more.
Kyle was previously the Senior Investing Editor for Kiplinger.com, and the Managing Editor for InvestorPlace.com before that. His work has appeared in several outlets, including Yahoo! Finance, MSN Money, Barchart, The Globe & Mail and the Nasdaq. He also has appeared as a guest on Fox Business Network and Money Radio, among other shows and podcasts, and he has been quoted in several outlets, including MarketWatch, Vice and Univision. He is a proud graduate of The Ohio State University, where he earned a BA in journalism.
You can check out his thoughts on the markets (and more) at @KyleWoodley.
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