Wall Street Today | Facebook's metaverse won Christmas

Asian stocks looked set for a tailwind Tuesday after another all-time high for U.S. shares on optimism that the global recovery can weather risks from the coronavirus and tightening monetary policy.

Crossmark Global Investments's Victoria Fernandez said in a Monday interview with Bloomberg Television that historically equity markets continue to rise after a first interest rate hike and don't actually take a hit until after the Fed's second or third increase.

"Conditions for a large selloff are not in place right now given already low investor positioning, record buybacks, limited systematic amplifiers, and positive January seasonals," the strategists led by Dubravko Lakos-Bujas wrote in a note to clients. "Investor positioning is too bearish -- the market has taken the hawkish central bank and bearish omicron narratives too far."

Amid all the celebration of a rousing year-end in stocks, Doug Ramsey has a sobering observation about a situation below the market's surface.

Last week, when the S&P 500 closed at a 52-week high, 334 companies trading on the New York Stock Exchange hit a 52-week low, more than double the amount that marked new one-year highs. That's happened only three other times in history -- all of them in December 1999, according to Ramsey, who is chief investment officer for Leuthold Group.

U.S. health officials on Monday cut isolation restrictions for Americans who catch the coronavirus from 10 to five days, and similarly shortened the time that close contacts need to quarantine.

CDC officials said the guidance is in keeping with growing evidence that people with the coronavirus are most infectious in the two days before and three days after symptoms develop. The decision also was driven by a recent surge in Covid-19 cases, propelled by the omicron variant. CDC Director Rochelle Walensky said the country is about to see a lot of omicron cases.

This gives Meta more opportunity to show customers the possibilities of its vision for the metaverse.

After paying off a record $83 billion in credit card debt in 2020, Americans are on track to end this year back in the red. By the end of the year, Americans are now on track to end up with $70 billion more in credit card debt, according to a projection by personal finance site WalletHub.

Credit card balances are expected to continue to rise in 2022, according to one forecast.

The move, which affects its locations in Manhattan, Brooklyn, the Bronx and Staten Island, isn't a complete shuttering of stores like the company has done in the past to slow the spread of the virus.