January 18, 2022

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More Wall Street Records Wednesday - But Tech Stocks Fall

More Wall Street Records Wednesday – But Tech Stocks Fall

The S&P 500 ended Wednesday’s trading with an all-time high: 4,793.14 points.

Records were also set in trading in the last minutes: the S&P 500 set a new trading record about half an hour before the end of 4802.1 points. The Dow Jones Industrial Average also set a new record after just ten minutes at 36568.17 points.

This is what the US stock market indices looked like at the close of trading on Wednesday:

  • The heavy Dow Jones Industrial Average rose more than 0.25 percent, and was finally just below its intraday high.
  • The S&P 500 broad aggregator index rose more than 0.14%, hitting an all-time high.
  • Nasdaq Composite Heavy Technology fell 0.1 percent.

Historically, the last five trading days in December and the first five days in January have been a good period on Wall Street, with the S&P 500 index up 1.7 percent since 1928.

The S&P 500 set a new high about half an hour before the close of trading on Wednesday. A little later, the stock index jumped to 4802.1 points.

Omikron caused turmoil in the US stock market at the end of November, but since then the mood has improved. The S&P 500 is up about five percent so far in December.

The Dow Jones Industrial Average is up slightly from the start on Wednesday, and may hit a new high during the trading day. The previous intraday rise was 36,565.73 points. The highest closing price so far was in November of this year – 36432.22 points.

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At about 21:40 liters, the index settled at 36568.17 points, and a new slate is at the top of the list.

On Wednesday morning, it was announced that Tesla CEO Elon Musk has sold shares in the company for an additional NOK 9 billion, and is thus one step closer to reducing his ownership stake by ten percent.

Chinese e-commerce giant Alibaba is considering selling its 30 percent stake in marketing company Weibo to state-owned Shanghai Media Group, according to Bloomberg. Alibaba shares fell 2.7 percent at the close of trading.

Victoria’s Secret stock rose 6.7 percent in pre-trading after the company announced an accelerated $250 million buyback and maintained guidance for the fourth quarter, according to Bloomberg News. At the close of trading, the company rose 5.9 percent.

U.S. wholesale inventories rose 1.2 percent in November, compared to the previous month, according to preliminary figures from the U.S. Department of Commerce ahead of the stock market open on Wednesday, according to Trading Economics.

Inside, the main index on the Oslo Stock Exchange fell 0.45 percent at the close of trading on the penultimate trading day of the year, and thus the majority of European and Asian stock exchanges followed suit. (Conditions)Copyright Dagens Næringsliv AS and/or our suppliers. We would like you to share our cases using a link that leads directly to our pages. All or part of the Content may not be copied or otherwise used with written permission or as permitted by law. For additional terms look here.

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