NEW YORK: The Dow and the S&P 500 closed at all-time highs on Wednesday on a boost from retailers including Walgreens and Nike, as investors brushed off concerns over Omicron’s spread.
The Dow has now gained six straight trading days since its seven-session run from March 5 to March 15 this year.
Walgreens Boots Alliance and Nike Inc rose 1.59% and 1.42%, respectively, against a backdrop of recent reports that holiday sales for US retailers were strong.
Wednesday’s data showed the US trade deficit in goods widened the most in November, as imports of consumer goods hit a record, as the coronavirus pandemic limited spending by Americans on services.
Some early studies pointing to a lower risk of hospitalization in Omicron cases have eased some investor concerns over travel disruptions and driven the S&P 500 to a record high this week.
Jay Hatfield, founder and chief executive of Infrastructure, said, “The market began to recognize that the Omicron version is oddly good news, as it will burn itself out more quickly than it can easily transmit, but it doesn’t make any difference to it.” Hospitals are less likely to be affected.” Capital Management in New York. Still, he said Omicron is arguably going to be a headwind for at least the next month.
Meanwhile, the S&P 1500 Airlines Index dipped. Delta Air Lines and Alaska Air Group again canceled hundreds of flights on Tuesday as the daily number of infections in the United States soared.
Three of the 11 major S&P sector indices declined, the energy index, the consumer services sector. SPLRCL and the financial sector are in the red.
Typically, the last five business days of the year and the first two days of the following year are seasonally strong. american stock, known as the “Santa Claus Rally”. However, market participants cautioned against reading too much into daily moves as some of the lowest volume trading recorded during the holiday season could lead to exaggerated price action.
Dow Jones The industrial average was up 90.42 points, or 0.25%, at 36,488.63, the S&P 500 rose 6.71 points, or 0.14%, to 4,793.06 and the Nasdaq Composite fell 15.51 points, or 0.1%, to 15,766.22.
The S&P 500 plunged into a session with its lowest trading volume of 2021 on Tuesday, breaking a four-day winning streak.
As 2021 draws to a close, major US stock indexes are on pace for their third straight year of astonishing annual returns fueled by historic financial and monetary stimulus. The S&P 500 is seeing its strongest three-year performance since 1999.
The focus next year will be on the way for the US Federal Reserve to hike interest rates amid a spurt in prices due to supply chain disruptions and a strong economic rebound.
Among other stocks, shares of Victoria’s Secret & Co. rose more than 12% after the intimate apparel retailer announced a $250 million accelerated share repurchase program. The retailer also said they had strong sales over the holidays.
Tesla CEO Elon Musk Exercised all of his options expiring the next year, indicating the end of the sale of his stock. Its shares fell 0.21% but were still on track to end the year about 54%.
Volume on US exchanges stood at 7.89 billion shares, compared to an average of 11.15 billion for the full session over the past 20 trading days.
Advancing issues declining the 1.20-to-1 ratio on the NYSE; On the Nasdaq, a 1.43-to-1 ratio favored the decline.
S&P 500 records 76 new 52-week highs and no new lows; The Nasdaq Composite posted 77 new highs and 374 new lows.
The Dow has now gained six straight trading days since its seven-session run from March 5 to March 15 this year.
Walgreens Boots Alliance and Nike Inc rose 1.59% and 1.42%, respectively, against a backdrop of recent reports that holiday sales for US retailers were strong.
Wednesday’s data showed the US trade deficit in goods widened the most in November, as imports of consumer goods hit a record, as the coronavirus pandemic limited spending by Americans on services.
Some early studies pointing to a lower risk of hospitalization in Omicron cases have eased some investor concerns over travel disruptions and driven the S&P 500 to a record high this week.
Jay Hatfield, founder and chief executive of Infrastructure, said, “The market began to recognize that the Omicron version is oddly good news, as it will burn itself out more quickly than it can easily transmit, but it doesn’t make any difference to it.” Hospitals are less likely to be affected.” Capital Management in New York. Still, he said Omicron is arguably going to be a headwind for at least the next month.
Meanwhile, the S&P 1500 Airlines Index dipped. Delta Air Lines and Alaska Air Group again canceled hundreds of flights on Tuesday as the daily number of infections in the United States soared.
Three of the 11 major S&P sector indices declined, the energy index, the consumer services sector. SPLRCL and the financial sector are in the red.
Typically, the last five business days of the year and the first two days of the following year are seasonally strong. american stock, known as the “Santa Claus Rally”. However, market participants cautioned against reading too much into daily moves as some of the lowest volume trading recorded during the holiday season could lead to exaggerated price action.
Dow Jones The industrial average was up 90.42 points, or 0.25%, at 36,488.63, the S&P 500 rose 6.71 points, or 0.14%, to 4,793.06 and the Nasdaq Composite fell 15.51 points, or 0.1%, to 15,766.22.
The S&P 500 plunged into a session with its lowest trading volume of 2021 on Tuesday, breaking a four-day winning streak.
As 2021 draws to a close, major US stock indexes are on pace for their third straight year of astonishing annual returns fueled by historic financial and monetary stimulus. The S&P 500 is seeing its strongest three-year performance since 1999.
The focus next year will be on the way for the US Federal Reserve to hike interest rates amid a spurt in prices due to supply chain disruptions and a strong economic rebound.
Among other stocks, shares of Victoria’s Secret & Co. rose more than 12% after the intimate apparel retailer announced a $250 million accelerated share repurchase program. The retailer also said they had strong sales over the holidays.
Tesla CEO Elon Musk Exercised all of his options expiring the next year, indicating the end of the sale of his stock. Its shares fell 0.21% but were still on track to end the year about 54%.
Volume on US exchanges stood at 7.89 billion shares, compared to an average of 11.15 billion for the full session over the past 20 trading days.
Advancing issues declining the 1.20-to-1 ratio on the NYSE; On the Nasdaq, a 1.43-to-1 ratio favored the decline.
S&P 500 records 76 new 52-week highs and no new lows; The Nasdaq Composite posted 77 new highs and 374 new lows.
,