Wall Street stock prices to minus, low trading volumes disrupt Santa’s rally

New York

The main indices of the New York stock exchanges fell on Thursday, New Year’s Eve and the last trading day of the year.

Although the indices closed down, the S&P 500 and Dow Jones indices had time to reach new highs earlier in trading.

The indices were on the rise in the past during trading, with people reportedly filing 198,000 new jobless claims in the U.S. last week, while analysts expected 206,000 claims. According to Marketwatch, the reading is the lowest in 52 years.

“Suddenly, data on unemployment claims are back to January 2020 levels. Of course, pay is not at the same level, but we know that it is particularly affected by the fact that a few million employees retired early, ”said the Chief Investment Officer. Peter Boockvar treasurer From Bleakley Advisory Group comments according to Marketwatch.

Investors have hoped that the phenomenon called the Santa Claus rally will continue. This suggests that equities will generally rise during the last five trading days of December and the first two trading days of January. However, trading volumes can fluctuate a lot during this period.

Finance company Odyssey Capital Advisorsin founder and chief investment officer Jason Snipe therefore tells CNBC that trading volumes have been low.

As many as 465,000 new corona infections were reported in the United States on Wednesday. There are currently about 60,000 Americans being treated in hospitals for coronavirus, which is about half as many as last January, according to the CDC. Experts do not believe that the number of hospital patients will rise to its previous highs.

Among the Dow Jones companies were strong, among others American Express, whose share price rose 0.2 percent. Disney the share rose 0.7 percent.

Samsung denied rumors circulating in the Korean media that it was buying the drug company Biogenia to himself. Biogen’s share price fell 7.1 percent.

Chinese ride company Didin the stock rose 5.9 percent, although the company reported losses of up to $ 4.7 billion in the third quarter due to tightening regulations in China.

Yesterday, Didi’s stock fell further as Didi said it was withdrawing from the New York Stock Exchange and listing in Hong Kong instead.

The euro weakened against the US dollar after stock markets closed. The 10-year rate on U.S. government debt fell 1.508 percent after the stock markets closed.

The Dow Jones index fell 0.3 percent, the S&P 500 index fell the same, and the Nasdaq index fell 0.2 percent.

Source: Arvopaperi by www.arvopaperi.fi.

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