A double record on Wall Street on Wednesday, with the Dow extending its winning streak to day 6 and closing at a record high. At the same time, the S&P 500 recovered from yesterday’s losses and set its 70th record in 2021. The atmosphere of the “New Year rally” was not followed by the Nasdaq, which ended the session with small losses.
Investors are still focused on developments in the Omicron mutation, with the resurgence of cases not discouraging the US market, even after the announcement of the World Health Organization that the number of new infections recorded worldwide last week is increasing by 11% compared to the previous one.
In the USA the average number of daily coronavirus cases in the last seven days has reached a record -258,312- according to a report by Reuters. The previous peak of the seven-day average of cases was 250,141 recorded on January 8. It was recorded on Monday negative record in the US with 510,000 daily cases.
Nevertheless, Wall Street was looking for – and found – vital ground for new records, as many investors estimate that the economic recovery and strong profits of American companies will continue to support markets in 2022, at least for the first few months.
Investors are positive about the preliminary results of research showing that the Omicron mutation does not cause as serious a disease as other mutant strains and that those infected with the Omicron may be protected from re-infection with the Delta.
“Despite the increase in cases worldwide, the markets reflect a new reality: that covid-19 is here to stay, but more in terms of markets than its own,” said Kevin Philip, CEO Advisor to Bel Air Investment Advisors, adding that in 2022 he expects people to return to more “normalcy”.
“As vaccines, boosters, treatments and herd immunity increase, the virus seems to be more manageable,” he said, adding: – responsibly speeds up tapering “.
In macro of the day, “jump” recorded the US trade deficit in November, climbing to a historically high level, with the country remaining on track to show the largest annual deficit in its history in 2021.
In particular, the trade deficit increased by 17.5% last month and amounted to $ 97.8 billion, compared to $ 83.2 billion in October, according to data released today. This significant increase is due to the jump in imports and the decline in the country’s exports over the same period.
In addition, Pending home sales in the US fell in November, after the “jump” in October, as high prices and low supply seem to make prospective buyers more reluctant, according to data released by the National Association of Realtors on Wednesday.
In the meantime, his performance 10-year US government bondA strengthened on Wednesday by 6.2 basis points to 1.542%, the highest level since November 24. The dollar fell 0.2% according to the ICE US Dollar index.
Indicators – Statistics
On the dashboard, the industrial Dow added 0.25% or 90.42 points to 36,488.63, while intra-conference it exceeded 36,500. The Dow 6×6 is its biggest uptrend since March 2021, after recording gains for 7 consecutive sessions in the 5-15 / 3 period.
The wider S&P 500 gained 0.14% to 4,793.06 points, while the technological Nasdaq fell 0.1% to 15,766.22 points.
From 30 shares that make up the Dow, 22 closed with a positive sign and 8 with a negative. The gains were led by Walgreens Boots (+ 1.59%), Nike (+ 1.42%) and Home Depot (1.14%), while the biggest losses were recorded by Boeing (-1.2%) and Verizon (- 0.68%).
Shares of companies operating cruise ships, such as Carnival Corp (-0.53%) and Norwegian Cruise Line (-1.46%), lost ground, with the industry facing problems with the outbreak of coronavirus cases.
Facebook’s parent company, Meta Platforms, lost 0.95% on e-commerce profits after the Wall Street Journal reported that the social media and metaverse company had tried to split lawmakers to prevent any cross-cutting collusion efforts to introduce a stricter installation. rules for social networking platforms.
Tesla shares were also in the spotlight after automaker Elon Musk sold another 934,090 shares worth about $ 1.02 billion, according to financial documents released Tuesday, according to CNBC. Musk also exercised options to buy nearly 1.6 million Tesla shares for $ 6.24 a share in a 2012 compensation package. Tesla shares fell 0.21%. on Wednesday.
Apple traded a marginal profit in the wake of reports that iPhone maker was paying up to $ 180,000 to prevent its employees from moving to competitors, including Facebook’s parent company Meta Platforms, according to Bloomberg News.
Finally, NRx Pharmaceuticals jumped more than 10% after the drug development company announced that it had submitted a new Breakthrough Therapy Designation to the US Food and Drug Administration (FDA) for Zyesami to be given to patients at immediate risk of death from coronavirus.
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I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
