US stocks fall on ‘Santa Claus’ rally – Times of India

New York: wall Street Shares fell on Thursday, giving back a fraction of their recent gains in the sleep-wake period as investors weigh the latest moves to contain Covid-19.
The Dow and the S&P 500 both retreated from records during the “Santa Claus Rally” — the period after Christmas when stocks typically drift higher amid light trading volume.
With one trading day remaining in 2021, major indices have had a banner year, with the broad-based S&P 500 up more than 27 percent.
Dow Jones The Industrial Average fell 0.2 per cent to close at 36,398.08 on Thursday.
The S&P 500 closed 0.3 percent lower at 4,778.73, while the tech-rich Nasdaq Composite Index lost 0.2 percent to 15,741.56.
US jobless claims dipped below 200,000 last week, one of the week’s only major economic reports, data showed.
Concerns over rising Covid-19 cases omicron The variant has been decimated by research, suggesting that the latest strain is less lethal than earlier versions.
But the increase in infection is affecting the travel industry.
Carnival and Norwegian Cruise Line lost 1.2 percent and Norwegian Cruise Line 2.5 percent after the US Centers for Disease Control and Prevention urged Americans to avoid traveling on ships, even if they had been vaccinated.
Biogen fell after 7.1 percent samsung Denied a report that talks were underway to acquire the biotech company. Biogen’s shares were up 9.5 percent after the talks were reported by the Korea Economic Daily.
Teva Pharmaceutical Industries fell 6.1 percent after a New York state jury found the drug company liable after a trial on the drugmaker’s role in the opioid addiction crisis. Teva plans to appeal.