Major Wall Street stocks rose sharply on Monday as investors weighed in on celebratory euphoria but finally weighed concerns about the effects of the spread of the coronavirus’s Micron mutation.
On the dashboard, the industrial Dow Jones gained 351.82 points or 0.98%, to 36,302.38 points, with the widest S&P 500 to strengthen by 65.40 points or 1.38%, to 4,791.19, marking a record high. The technological Nasdaq recorded an increase of 217.9 points or 1.39%, to 15,871.30 points.
Market strategy executives remained positive about the outlook for the shares, despite the Covid-19 outbreak. Recent studies suggest that the risk of hospitalization due to Omicron is significantly lower than previous variants – coronavirus mutations.
“We do not expect Omicron to have a significant impact on growth prospects, but we believe that it brings the pandemic one step closer,” Dubravko Lakos-Bujas, JP Morgan, said in a note today.
Investors are hoping and contributing to a “New Year rally” in order to positively close a year in which the S&P 500 has provided a total return of about 27%.
Historically, the general index moves upwards in the last five days of trading of the year and in the first two days of the new year.
Technology shares led the S&P 500, with AMD and Nvidia semiconductor companies among the biggest gainers, with 5.6% and 4.4% respectively.
Shares in the energy sector also moved dynamically, with that of APA adding 7.3%, while the share of Devon Energy gained 6.1% and Diamondback Energy 4.9%. The industry is expected to close the year as the one with the highest positive performance under the S&P 500.
Holiday retail sales in the US exceeded those of 2020 by 8.5%, the largest annual increase in 17 years, according to Mastercard data.
The specific data show that the consumption exceeded the problems in the supply chain, the higher prices, but also the effect of the Omicron mutation in the last weeks of the buying “fever” of the holidays. Shares in the retail sector, such as those of Ralph Lauren and Ross Stores, rose.
GoDaddy shares jumped 8.4%, following the news that the activist investment Starboard Value bought a 6.5% stake in the company.
Nevertheless, shares of travel and leisure companies were hit, falling, albeit less than at the start of the session, after a Christmas weekend in which thousands of flights were delayed or canceled due to high coron dispersion. and in particular the Omicron mutation between crews. At the same time, cruise line companies have seen their stocks fall as well.
Of the 30 Dow shares, 28 traded positive and 2 traded negative. The profits were led by those of Microsoft, Apple, Chevron, while those of Walt Disney and Boeing moved down.
.
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.
