Wednesday, December 29, 2021
Dow Jones at 36,489 points
Investors look forward to a new record high
The mood on Wall Street is good and is giving wings to the Dow Jones. Omikron is unlikely to weaken the economy as much as initially feared, the stockbrokers hope. The big winner is the lingerie brand Victoria’s Secret.
Wall Street closed inconsistently. As on the previous day, the technology-heavy one remained Nasdaq back. the Dow Jones Index recorded on a closing price basis like that S&P 500 a record high. It closed 0.2 percent higher at 36,489 points, the S&P 500 gained 0.1 percent, the technology-heavy Nasdaq composite lost 0.1 percent. There were a total of 1897 course winners and 1464 losers. 127 titles closed unchanged.
Sales were very thin, because many market participants use the time “between the years” for a vacation. Overall, however, the mood is good, it said from the trade. Many investors were optimistic about the new year. Based on the latest findings, the currently rampant omicron variant of the coronavirus will not require the strict restrictions imposed during the previous pandemic waves. This means that the economy is also likely to suffer less, but rather to continue on its recovery path. This will be reflected in higher profits for companies.
Share buyback spurs Victoria’s Secret
The individual stocks on the stock market fell Tesla by 0.2 percent. Tesla CEO Elon Musk has sold additional shares worth around $ 1 billion and has also exercised options on 1.55 million shares in the electric car manufacturer. The shares of egg producer Cal-Maine Foods fell 5.4 percent. The company posted a decline in earnings in its second fiscal quarter due to higher costs.
Victoria’s Secret improved by 12.2 percent. The retailer is pleased with the fourth quarter and has reaffirmed its earnings targets. The company is also planning an accelerated share buyback worth $ 250 million. Disappointing fourth quarter figures Fuel cell collapse by almost 13 percent. The company has surprisingly reported a drop in sales, which pushed it into the red more than expected.
the Biogenic-Share benefited from takeover fantasy and rose 9.5 percent. The Korea Economic Daily reports buying interest from Samsung. Biogen is in talks with the Koreans. Thanks to the easing of Omikron worries, government bonds were not in demand. In return, the yields rose significantly. the dollar came back. The fact that safe-haven currencies such as the dollar are less in demand in times of heightened risk appetite slowed it down.
However, the interest rate hikes announced by the US Federal Reserve for 2022 provide support. gold was also avoided. The upcoming US interest rate hikes make the interest-free precious metal comparatively unattractive. the Oil prices tended to be volatile. According to the official US inventory data from the state Energy Information Administration, they jumped into positive territory. For both crude oil and gasoline and distillates, the data showed a significant decrease. In addition, the demand for gasoline has risen to its highest level since the end of July.