Slight fluctuations in the Wall after yesterday’s rally

The main indicators of the Wall are moving with mixed signs and small fluctuations on Wednesday, after the strong gains recorded yesterday by Dow and Nasdaq, in the aftermath of the announcements of the American president Joe Biden for the last wave of the pandemic that did not contain any news or forecast. lockdown.

Joe Biden’s speech eased concerns about the impact of the Omicron mutation on the economic recovery, with the US president announcing that his government would set up new nationwide testing centers and purchase 500 million rapid tests that will be distributed free of charge to American households.

He said a special website would also be set up where Americans could request tests to be delivered to their homes.

At the same time, the federal government will ensure that states and health systems across the country have all the supplies they need to tackle the spread of Omicron. The medical staff is being strengthened with 1,000 people at the federal level, while the capacity of the hospitals is also being strengthened as well as the protective equipment for the staff.

Steps are being taken to ensure that citizens can be vaccinated even more easily in the coming weeks – including the development of new clinics, further staffing and an increase in pharmacy capacity.

In addition, Bloomberg reported Wednesday that the Biden government plans to stockpile 400 million covid-19 therapies.

According to the agency, the holiday season is still complicated by the new mutation that causes outbreaks in the US, Europe and elsewhere. Dr. David Powell, a doctor and medical consultant with the International Air Transport Association, warned that the new mutation increases the risk of catching a coronavirus during a flight by two or three times.

However, “investors believe that the effects of the new mutant will be short-lived and therefore less detrimental to the US economy. This is due to the fact that corporate balance sheets are stable and investors believe that the US will overcome this wave without being hurt. “, said in a note to his clients Naeem Aslam, an analyst at AvaTrade.

In the meantime, his performance 10-year US government bond remains almost unchanged at 1.474%, while the dollar adds 0.1% according to the ICE US Dollar Index.

Indicators – Statistics

On the dashboard, the industrial Dow loses 0.1% to 35,450 points, the widest S&P 500 adds 0.08% to 4,650 units and the technological Nasdaq increased by 0.25% to 15,380 points.

From 30 shares which make up the industrial index, 9 move with a positive sign and 21 with a negative one. Caterpillar (+ 1.59%) and Walgreens Boots Alliance (+ 1.02%) are leading the gains, while Amgen (-1.18%), Verizon (-1.17%) and Dow record the biggest losses. Inc (-0.98%).

Tesla is up 4.8% after CEO Elon Musk said in a podcast interview that he has sold several shares to meet his tax requirements.

Blackberry loses 4.4% despite announcing better-than-expected results for the third quarter.

Macro

In macro of the day, US economic growth slowed in the third quarter compared to the previous one, although the growth rate was ultimately better than originally estimated, which puts the economy on a good path to record the best performance since 1984.

In particular, US GDP grew at a rate of 2.3% on an annual basis, as announced today by the Ministry of Commerce. In the second quarter, the economy had grown by 6.7%.

The previous measurement for the third quarter “saw” growth of 2.1%. Although revised upwards, the latest measurement is the lowest since the second quarter of 2020, when the economy shrank historically due to austerity measures and lockdowns imposed in the first wave of the pandemic.