Dow Jones Industrial Average closes record, Nasdaq closes slightly lower

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After ending the previous session on the other side of the unchanged line, the major US stock index turned into another mixed performance during Wednesday trading. Despite volatile trading, the Dow and S & P 500 reached new record closing prices.

The Dow rose 90.42 points (0.3%) to 36,488.63, hitting a high in six consecutive sessions. The S & P 500 also rose 6.71 points (0.1%) to 4,793.06, well below the worst level, but closed at 15,766.22, 15.51 points (0.1%).

Traders seemed reluctant to continue their significant moves, following their recent strength. marketThis helped the strain recover from the sold-out seen in response to the initial reports of the Omicron variant of coronavirus.

Omicron variants have contributed to the proliferation of new things coronavirus In cases around the world, traders appear optimistic that mild symptoms associated with new strains will not lead to a significant economic slowdown.

Traders often do so-called “window dressing” towards the end of the year, but pre-holiday activities may still be somewhat curtailed.

The US market will not be closed during the New Year holidays, but traders may expect to get a good start at the festival.

On the economic front of the United States, a report released by the National Association of Real Estate Agents showed an unexpected setback in pending home sales in November.

The NAR said the pending home sales index rose 7.5% to 125.2 in October and then fell 2.2% to 122.4 in November. This decline surprised economists who expected pending home sales to increase by 0.5%.

A pending home sale is a home sale that has a contract but has not yet been signed. It usually takes 4-6 weeks to end the contract sale.

Sector news

Most of the major sectors finished the day with only modest moves and contributed to the lack of vibrancy near the wider markets.

Airline stocks have fallen sharply, but the NYSE Arca Airline Index has fallen 2.5%.

Oil services stocks also saw significant weaknesses, reflecting the 1.4% drop in the Philadelphia Oil Services Index. Despite rising oil prices, the weakness of the sector has come.

Meanwhile, home inventories rose significantly and the Philadelphia Housing Sector Index rose 1.2%, despite pending home sales data.

Other markets

In overseas trading, the stock market in the Asia-Pacific region fluctuated in the trading on Wednesday. Japan’s Nikkei 225 index fell 0.6%, while Australia’s S & P / ASX 200 index rose 1.2%.

Major European markets also ended the day in different ways. The UK’s FTSE 100 index rose 0.7%, while the French CAC 40 index fell 0.3% and the German DAX index fell 0.7%.

In the bond market, the Treasury fell significantly during the session. As a result, yields on benchmark 10-year bonds, which move in the opposite direction of the price, rose 6.2 basis points, closing at 1.543% per month.

Future outlook

Thursday’s transaction may be affected by reaction to weekly unemployment claim data, along with reports on the Chicago region jobs activity.

Contact for comments and feedback: editorial@rttnews.com

Business news

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Dow Jones Industrial Average closes record, Nasdaq closes slightly lower

Source link Dow Jones Industrial Average closes record, Nasdaq closes slightly lower

The post Dow Jones Industrial Average closes record, Nasdaq closes slightly lower appeared first on Eminetra.

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