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By Echo Wang
(Reuters) – The Dow and all-time highs closed on Wednesday, boosted by Walgreens and traders, among others. Nike , as investors removed concerns about the spreading Omicron variant.
The Dow has risen six consecutive trading days, marking the longest seven-session earnings run from March 5 to March 15 this year.
Walgreens Boots Alliance (NASDAQ 🙂 and Nike Inc (NYSE 🙂 rose 1.59% and 1.42%, respectively, behind recent reports suggesting that holiday sales were strong for U.S. retailers.
Wednesday’s data showed that the U.S. goods trade deficit was the largest ever in November, as consumer goods imports hit a record high as the coronavirus pandemic limited spending on services by Americans.
Initial research to reduce the risk of hospitalization in Omicron cases has eased concerns about travel disruptions for some investors, and the S&P 500 hit a record high this week.
“The market started to know that the Omicron variant was strange news in a strange way because it burns faster because it is easily transmitted, but it is likely to overtake hospitals,” said Jay Hatfield, founder and CEO of Infrastructure. Capital Management in New York. However, Omicron said there is likely to be a headwind for at least the next month.
Meanwhile, the S&P 1500 airline index fell. Delta Air Lines (NYSE 🙂 and Alaska Air (NYSE 🙂 The group canceled hundreds of flights again on Tuesday as the number of daily infections in the United States rose.
Three of the top 11 S&P indexes fell, with the energy index, the consumer services sector .SPLRCL and the financial sector in the red.
Typically, the last five trading days of the year and the first two of the following year are strong seasons for U.S. stocks, known as the “Santa Claus Rally”. However, market participants were warned to read too much in their daily movements, as the holiday season tends to record some of the lowest volume volumes that can result in excessive price action.
90.42 points, or 0.25%, to 36,488.63, the S&P 500 6.71 points, or 0.14%, to 4,793.06, and 15.51 points, or 0.1%, to 15,766.22 .
The S&P 500 fell on Tuesday in its lowest trading volume in 2021, reaching a four-day winning volume.
As this year draws to a close in 2021, the top U.S. stock indexes are at an alarming rate for the third year in a row, driven by historic fiscal and monetary stimulus. The S&P 500 is seeing its strongest three-year performance since 1999.
Next year will see a shift in focus on a rise in the US Federal Reserve’s interest rate hike, amid supply chain hurdles and a sharp economic rebound as a result of rising prices.
Among other stocks, Victoria’s Secret & Co’s shares rose more than 12% after clothing retailer announced a $ 250 million accelerated share recovery program. The retailer also said they had big sales over the holidays.
Tesla (NASDAQ 🙂 CEO Elon Musk took advantage of every opportunity that would expire next year, ending the sale of his shares. Its shares fell 0.21%, but were still nearing completion by about 54% for the year.
The volume of US exchanges was 7.890 billion shares, up from an average of 11.15 billion in a full session over the last 20 trading days.
Progress issues outperformed the NYSE with declining ratios of 1.20 and 1; On the Nasdaq, the ratios of 1.43 and 1 favored declines.
The S&P 500 posted a new high of 76 52 weeks and no new lows; Nasdaq Composite recorded 77 new highs and 374 new lows.
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