Wall Street stock prices lack clear direction after record pipe: “Omikron variant unlikely to lead to severe movement restrictions”


New York

The main indices of the US stock market closed inconsistently on Tuesday after the shares rose in the previous trading days for four days in a row.

The Dow Jones index closed up. Index shares health insurer UnitedHealth Group increased by 0.7 percent and the aircraft manufacturer Boeing 1.5 percent.

The S&P 500 index closed slightly after rising to a new record earlier in trading. The index closed its new record 69 times this year on Monday.

Investors do not believe that the spread of the coronavirus’ own variant will dampen economic growth. However, many investors doubt that the stocks will no longer yield hard returns like 2021.

Wells Fargo Investment Instituten leading market strategy Scott Wren tells Marketwatch that the spread of the omicron variant is unlikely to lead to severe mobility restrictions in the United States.

The S&P 500 has risen 4.8 percent in five trading days. Historically, the holidays between Christmas and New Year have often been a time of rising stock prices, but market commentators still consider the development of the corona situation to be the main factor influencing stock indices.

Shares in the financial sector rose on average, while shares of technology companies outperformed. The largest bank in the United States JPMorgan Chasen the share rose 0.3 percent and the second largest bank Bank of American share 0.1 percent.

The share of electric car manufacturer Tesla fell by 0.5 per cent. The company’s share has risen 21 percent in five days.

Apple the market value has approached the $ 3 trillion mark in recent days, but the ghost limit crossed on Tuesday as the company’s stock fell 0.6 percent.

The euro weakened against the US dollar after stock markets closed. The 10-year rate on U.S. government debt rose 1.485 percent after the stock markets closed.

The Dow Jones index rose 0.3 percent, the S&P 500 index fell 0.1 percent and the Nasdaq index fell 0.6 percent.


Source: Arvopaperi by www.arvopaperi.fi.

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