Wall Street Positive Despite Surge in Covid-19 Cases

Wall Street is expected to rise on Thursday, DJIA and S&P 500 taking around 0.2%, against a 0.1% rise in the Nasdaq. Two days before the New Year, therefore, optimism still prevails, despite the extremely rapid spread of the new Omicron variant. Last night, Dow Jones and S&P had set closing records. The three main US indices should experience their third consecutive year of growth, with budgetary plans and especially accommodating monetary policies. The S&P 500 is currently gaining 27.6% since the start of 2021, the Dow Jones 19.2% and the Nasdaq Composite 22.3%. The markets are playing the scenario of an economic recovery in 2022, insensitive to health risks or to the expected slight tightening of the monetary policy of the Fed, which has just started its ‘tapering’.

A barrel of WTI crude has eased 0.2% to $ 76.4 today. Brent posted a comparable decline to $ 79. The ounce of gold traded down 0.1% to $ 1,803. The dollar index takes 0.1% against a basket of currencies. Bitcoin rallies 1% to $ 47,364 … Asian markets ended in scattered order, with a gain of 0.62% on the SSE and a decline of 0.4% for the Nikkei. European markets for their part appear slightly in the green on Thursday.

The New York Stock Exchange ended broadly higher on Wednesday, with the Dow Jones and S&P 500 indices even setting new records, while the Nasdaq fell very slightly, against a backdrop of soaring number of coronavirus cases worldwide and tensions on interest rates. At the close, the Dow Jones advanced 0.25% to 36,488 points, erasing its previous record of 36,432 pts recorded on November 8. The broad S&P 500 index posted its 70th record on Wednesday in 2021, ending up 0.14% to 4,793 pts, while the Nasdaq Composite, rich in technology and biotech stocks, fell 0.1% to 15,766 pts , the big “techs” are struggling to deal with the pressure observed on interest rates.

 

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