Wall is trying to expand its “New Year’s rally” with the S&P 500 moving in a new record high, as investors seem to overcome concerns about the effects of the spread of the coronavirus’s Micron mutation. The Dow is also moving upwards today, while the technological Nasdaq shows small fluctuations.
As the new pandemic wave continues to spread around the world, causing problems for airlines due to rising cases among quarantined workers resulting in flight cancellations, investors still believe the impact of the Omicron mutation will not derail economies.
In fact, the US CDC (Centers for Disease Control and Prevention) recommended reducing the isolation time to 5 days for the asymptomatic carriers of the coronavirus and at the same time it was suggested another 5 days using a mask when they come in contact with third parties.
“It seems that last week’s reports confirming that the new mutation is not as deadly as the previous strains of the virus maintained a positive pace in the markets this week,” said Charalambos Pissouros, head of research at JFD Group.
“We do not expect Omicron to have a significant impact on growth prospects, but we do see it as one step closer to ending the pandemic,” Dubravko Lakos-Bujas, JP Morgan, said in a statement.
At the macro of the day, US house prices continued to rise in OctoberHowever, the growth rate slowed for the second consecutive month, according to data from the S&P CoreLogic Case-Shiller, intensifying the feeling that the housing market is “cooling” after more than a year of frantic sales. In particular, the national index recorded an increase of 19.1% on an annual basis in October, following an annual increase of 19.7% in September.
In the meantime, his performance 10-year US government bond declines by one basis point to 1.472%.
Indicators – Statistics
On the dashboard, the industrial Dow adds 0.37% to 36,437.52 points, the widest S&P 500 increased by 0.12% to 4,797.26 and the technological Nasdaq records small losses of 0.13% at 15,855.45 points.
From 30 shares Dow Jones, 26 are moving in a positive direction and 4 are moving in a negative direction. The gains are led by Boeing (+ 2.18%), Walt Disney (+ 1.56%) and Walgreens Boots (+ 1.22%), while the biggest losses are recorded by Apple (-0.52%).
It is noted that Apple announced yesterday that it has closed all 12 stores in New York for markets as incidence of coronavirus Omicron variant infection increased nationally.
The company’s customers will be able to order products online and pick them up from stores, according to an Apple spokesman.
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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.
