US stocks remain almost positive in afternoon trading

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Stock prices rose during the trading process on Wednesday morning and are now in the positive territory. Key averages have been added to the strong profits posted in the previous session, further offsetting the previous three days of losing streak.

Currently, the main average is off the highest level of the day, but it’s still a solid plus. The Dow rose 199.70 points (0.6%) to 35,692.40, the Nasdaq rose 67.83 points (0.4%) to 15,408.91, and the S & P 500 rose 27.81 points (0.6%) to 4,677.04.

The strength that emerged on Wall Street is partly a positive reaction to the latest US economic data, including the Conference Board’s report that consumer confidence improved much more than expected in December. It may be reflected.

The report showed that the consumer confidence index rose from 111.9, which was revised upward in November, to 115.8 in December.

Economists expected the consumer confidence index to rise from 109.5 to 110.7, which was first reported last month.

Lynn Franco, senior director of economic indicators at The Conference Board, said concerns about both inflation and Covid-10 have diminished despite continued price increases and reports of the emergence of Omicron variants. rice field.

Numerous US economic data will be released Thursday, including weekly unemployed billing, consumer durables orders, personal income and spending, and reports on new home sales.

Traders aim to get off to a good start on the Christmas weekend, but they may still keep an eye on the data for clues about the economic outlook.

Sector news

Housing stocks continue to show significant strength in afternoon trading, with the Philadelphia Housing Sector Index rising 1.7%.

The strength of home launches has come after the National Association of Real Estate Agents released a report in November showing that existing home sales rose to a 10-month high.

According to NAR, existing home sales rose 0.8% to 6.34 million in October and then 1.9% to 6.46 million annually in November.

Airline stocks have also expanded the rise seen in the previous session, with the NYSE Arca Aviation Index rising 1.5% after rising 5.3% on Tuesday.

Inventories in pharmaceuticals, energy and commercial real estate are also showing remarkable strength on the day, with most of the other major sectors showing slower movements.

Other markets

In foreign trade, stocks market During the trading on Wednesday, the entire Asia Pacific region rose almost. Japan’s Nikkei 225 index rose 0.2% and Hong Kong’s Hang Seng index rose 0.6%.

On that day, major European markets also started to rise. The UK’s FTSE 100 index rose 0.6%, while Germany’s DAX index rose 1% and France’s CAC 40 index rose 1.2%.

In the bond market, the Treasury has regained ground after the Treasury fell in the previous two sessions. As a result, the benchmark 10-year bond yield is the opposite of the price, down 2.7 basis points to 1.460%.

Contact for comments and feedback: editorial@rttnews.com

Business news

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US stocks remain almost positive in afternoon trading

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The post US stocks remain almost positive in afternoon trading appeared first on Eminetra.

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