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After opening almost flat on Tuesday, the stock market day ended with a mixed mood on the US stock market indices at the close of trading:
- The broad S&P 500 index fell 0.1 percent.
- Technology-heavy Nasdaq Composite fell 0.6 percent.
- Industrial-heavy Dow Jones rose 0.3 percent.
This happened after the leading stock exchange indices rose solidly on Monday after the Christmas celebrations, where the collective index S&P 500 ended with a new top listing.
The stock market indices fell at the end of November as a result of the omicron variant, but have since picked up again after the authorities have refrained from reintroducing new closures and stricter restrictions.
The recent rise is linked to a growing perception that the omicron variant may not be as serious as first feared, which comes as a relief to investors, says Jason Pride, chief investment officer at Glenmede, to WSJ.
Consumption party
According to Bloomberg Monday’s rise came, among other things, after a report from Mastercard, which showed a sales increase of 8.5 percent in the holiday period compared to last year – the largest increase in 17 years.
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– My biggest concern on the way to the Christmas shopping season was supply chain problems. I was worried that there would not be enough goods on the shelves, which could result in somewhat lower consumption this year, but these concerns seem to be largely exaggerated and the American consumer is still strong despite the omikron, says investment manager Dustin Thackeray in Crewe Advisors to Bloomberg.
Before the stock market opened, it became known that house prices in 20 metropolitan areas in the US rose 18.4 percent in October on an annual basis, according to the S&P Case-Shiller index. US housing prices were up 1.1 percent in October, compared to the previous month, according to the Federal Housing Finance Agency (FHFA), according to the news agency Direkt.
However, there are some sectors and companies that are still affected by the pandemic. On Monday, aircraft shares struggled, after the virus led to hundreds of canceled flights during the Christmas holidays. Apple also announced that it is closing its stores in New York due to the increase in cases of infection.
Romjulshandel
Shares tend to rise in the last days of the year.
– It happens because people start to position themselves. People are reading all their estimates for 2022 and planning for the coming year, says Jeffrey Meyers at Market Securities to WSJ.
So far this year, the S&P 500 index is up over 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 outperforms the Nasdaq. The technology index got off to a strong start in 2021, but the development became weaker when the first coronary vaccines came. Positive pandemic prospects reduced the demand for technological services for the home office, food delivery and entertainment.
European and Asian stock markets rose on Tuesday, while cryptocurrencies fell. Bitcoin fell around seven percent, and at 22 Norwegian time was below 48,000 dollars. Ether also fell over six percent to just over $ 3,800. (Terms)Copyright Dagens Næringsliv AS and / or our suppliers. We would like you to share our cases using a link, which leads directly to our pages. Copying or other use of all or part of the content may only take place with written permission or as permitted by law. For additional terms look here.
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