After opening almost flat on Tuesday, the stock market day ended in a mixed mood on US stock market indices at the close of trading:
- The broad S&P 500 index fell 0.1 percent.
- The heavy Nasdaq Composite Index fell 0.6 percent.
- The Dow Jones Industrial Average rose 0.3 percent.
This happened after the leading stock indexes rose strongly on Monday after the Christmas festivities, with the S&P 500 ending on a new high.
Stock market indices fell at the end of November as a result of the omicron variable, but rose again after the authorities refrained from re-imposing new closures and stricter restrictions.
The recent rise is linked to a growing perception that the omicron variant may not be as serious as it initially feared, which is a relief to investors, Jason Pride, chief investment officer at Glenmede, tells WSJ.
according to Bloomberg Monday’s rise, among other things, followed a report from Mastercard, which showed an 8.5 percent increase in sales in the holiday period compared to last year — the largest increase in 17 years.
– My biggest concern on the way into the Christmas shopping season was supply chain problems. I was worried there wouldn’t be enough merchandise on the shelves, which could lead to a somewhat lower consumption this year, but those concerns seem to be greatly exaggerated and the US consumer is still going strong despite Omicron, says investment manager Dustin Thackeray at Crewe. . Bloomberg Consultants.
Before the stock market opened, it became known that home prices in 20 US metropolitan areas rose 18.4 percent in October year-on-year, according to the S&P Case-Shiller Index. U.S. home prices rose 1.1% in October, compared to the previous month, according to the Federal Housing Finance Agency (FHFA), according to Direkt news agency.
However, there are some sectors and companies that are still affected by the pandemic. Aircraft stocks suffered, Monday, after the virus led to the cancellation of hundreds of flights over the Christmas holidays. Apple also announced that it is closing its stores in New York due to the increase in cases of infection.
Stocks tend to rise in the last days of the year.
– It happens because people begin to position themselves. People read all their estimates for 2022 and plan for next year, Jeffrey Myers of Market Securities tells The Wall Street Journal.
So far this year, the S&P 500 is up more than 27 percent, while the Nasdaq and Dow Jones are up 22 and 19 percent, respectively.
according to CNBC This is the first time since the 2016 S&P 500 Index that it has outperformed the Nasdaq. The technology index got off to a strong start in 2021, but development got weaker when the first coronary vaccines came out. Positive forecasts of pandemics have reduced the demand for technology services for the home office, food delivery, and entertainment.
European and Asian stock markets rose on Tuesday, while cryptocurrencies fell. Bitcoin is down about seven percent, and at 22 Norwegian time it was below $48,000. Ether also fell more than six percent to just over $3,800. (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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