Wall: In the end it kept the upward momentum – The S&P 500 is just a breath away from its record

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In a session marked by signals and small fluctuations, Wall finally managed to maintain the upward momentum and record gains in all three main indicators for the third consecutive day.

Concerns about the coronavirus’s Micron mutation, which caused severe upheaval in global markets about ten days ago, seem to be allayed by some positive news that sends an encouraging signal that the impact of the new mutant strain will not economies.

The Dow industrial index has rallied more than 1,100 points since the beginning of the week, as investors chase opportunities in the aftermath of the sell-off following the announcement of the location of the new mutant. The S&P 500, although found intra-conference losses, eventually moved to a record orbit. The Nasdaq was the driver of the profits.

“In theory, such strong gains are a sign of instability and should be treated with caution, but the good news is that volatility is declining and fears are gradually beginning to wane,” said Ipek Ozkardeskaya, a Swissquote analyst.

The optimism in the investment environment was maintained today by the results of an “initial laboratory study” announced by Pfizer and BioNTech, which showed that their covid-19 vaccine neutralizes the Omicron mutation after three or two doses and the booster.

Blood plasma from people who received two doses of the vaccine had a 25-fold reduction in levels of anti-micron neutralizing antibodies compared to the original strain of the virus, the two companies said. The booster dose of the vaccine increases the antibodies, offering similar levels of protection as the two doses in the original virus strain and other variants.

The conclusions of Pfizer and BioNTech broadly confirmed the preliminary study by the Africa Health Research Institute in South Africa. The institute’s researchers announced yesterday that Omicron may partially escape the protection offered by the two doses of the Pfizer – BioNTech vaccine, adding that a third dose is likely to help treat the highly mutated strain.

Meanwhile, yesterday GlaxoSmithKline announced that the antibody therapy against Covid-19 that it has developed with the American Vir Biotechnology is effective against all mutations of the new Omicron strain, according to the latest preclinical studies.

His performance 10-year government bond of the US added about 3 basis points to 1.51% on Wednesday, while the dollar fell by 0.5% according to the ICE US Dollar index.

Indicators – Statistics

On the dashboard, the industrial index Dow Jones strengthened by 0.1% to 35,754.75 points, the widest S&P 500 gained 0.31% to 4,701.21 points and is 3 points behind its record. The technological Nasdaq recorded gains of 0.64% at 15,786.99 points, closing at a distance of 2% from its historical high.

From 30 shares that make up the Dow, 16 stocks closed with a positive sign and 14 with a negative. Apple (+ 2.28%), Walt Disney (+ 1.68%) and Merck (+ 1.29%) led the gains, while Cisco (-1.83%) and Intel (- 1.56%).

In the individual shares, the Chinese social networking company Weibo Corp. made its debut in Hong Kong with losses of 7.2% with its listed share in the US market following “in the red” losing 2.51%.

Stitch Fix fell 23.91% after the clothing retailer announced disappointing guidance.

Pfizer and BioNTech stocks traded down 0.6% and 3.55% respectively despite their optimistic announcements about the coronavirus vaccine.

Investor interest was focused on securities companies linked to the cryptocurrency market, including Coinbase, whose executives are currently filing in Congress. Coinbase shares rose 0.37%.

Macro

At the macro of the day, vacancies in October in the US increased to 11 million. from 10.6 million last month, to the second highest level ever recorded. Vacancies have increased in accommodation and catering services, in non-permanent processing and in education.

According to the data announced today by the US Department of Labor, the resignations from jobs were moving at a slightly slower pace in October. In particular, about 4.2 million workers quit their jobs in October, slightly lower than the 4.4 million record last month.

The resignation rate fell to 2.8% from 3%, while resignations for private sector employees fell to 3.1% from 3.3%.

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