Jakarta, CNBC Indonesia – The United States (US) stock market rose on Thursday (12/23/2021), after a study stated that the Omicron fatality risk was small so it did not trigger a third wave of the pandemic.
The Dow Jones Industrial Average was up 200 points (+0.6%) at 08:30 local time (21:30 WIB) and within 30 minutes to 191.17 points (+0.53%) at 35,945.06. The S&P 500 added 23.63 points (+0.5%) to 4,720.19 and the Nasdaq added 45.44 points (+0.29%) to 15,567.33.
Stocks that benefited from the reopening of the economy led in the open like airlines, after a recent study showed that Omicron is less risky than other Covid variants. Shares of Delta Air Lines and American Airlines both rose 1%, trailing the Alaks Group, which soared 1.5% at the open.
Upward reversal (rebound) is likely to bring the Wall Street index to print a weekly rally. However, the three main indexes of the US stock exchange are still overshadowed by volatility due to declining trading volume ahead of the Christmas holiday on Friday.
“Much of the stock market rally this week has been tied to an end to last week’s fears and apparent relief that finally stopped the sell-off,” said Jim Paulsen, chief investment planner at Leuthold Group. CNBC International.
Yesterday, the US Food and Drug Administration (FDA) approved the circulation of drugs made by Pfizer to reduce the severity of Covid-19 infections. Studies show that the pill has an effectiveness of up to 89% to relieve symptoms of Covid so that sufferers do not need to be hospitalized. Pfizer shares rose 1%.
On Wednesday, the Dow Jones rose 0.7%, for a second day of rally with a total gain of more than 800 points. The S&P 500 jumped 1% to 4,696.56 and is now 1% off its record high. Meanwhile, the Nasdaq rose 1.2%.
Today, personal consumption shopping (personal consumption expenditures/PCE) as of November was announced to be up 0.6% on a monthly basis, while on an annual basis it grew 4.7% or slightly higher than market expectations at the level of 4.5%.
Claims for unemployment benefits last week were at 205,000 or in line with expectations. Meanwhile, sales of durable goods as of November rose 2.5%, or higher than the Dow Jones estimate of 1.5%.
CNBC INDONESIA RESEARCH TEAM
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