Investors in a holiday mood: Wall Street throws down a little Christmas rally

Investors in a holiday mood
Wall Street throws down a little Christmas rally

On the last trading day before Christmas, Wall Street extended its strong uptrend. Although investors have not yet left their inflation worries behind, studies at Omikron indicate mild trends. The vaccine manufacturers in particular had to give up.

Wall Street resumed its recovery course ahead of the extended Christmas weekend. The U.S. Standard Values ​​Index Dow Jones rose for the third day in a row, this time by 0.6 percent to 35,977 points. The broad one S&P 500 increased by a similar rate to 4,728 positions, closing higher than ever before. The technology-heavy one Nasdaq climbed by almost one percent to 15,676 positions. For the week as a whole, this results in a plus of around 1.7 percent for the Dow, 2.3 percent for the S&P and 3.2 percent for the Nasdaq.

The positive mood was borne by studies, according to which the omicron variant of the coronavirus is more contagious, but not more dangerous than the delta variant that has dominated to date. “Investors want to see the glass as half full,” said Ipek Ozkardeskaya from Swissquote Bank. However, new bad news could change the mood at any time.

Travel stocks rise, vaccine stocks fall

TripAdvisor 24.38

In the hope of a quick normalization of social life, investors grabbed travel and leisure values, among other things. Royal Caribbean and Norwegian so did the online travel agency Tripadvisor. Bitcoin rose 3.5 percent and passed the $ 50,000 mark again. But that’s still a long way to go until the annual high of almost $ 70,000 at the beginning of November.

The stocks of vaccine manufacturers, meanwhile, fell. So atone Biontech 1.7 percent one and Moderna 0.5 percent.

Novavax 157.50

For the NovavaxShares were down 3.3 percent, despite the fact that the pharmaceutical company announced that its two-dose vaccine against Covid-19 had shown “strong immune reactions” against Omikron and other variants.

Crocs has to pay for taking over

There was also a downward trend for stocks listed in the USA Major shareholder Tencent is distributing a $ 16.4 billion package of shares in the online retailer to its owners. As a result, slipped by around six percent.

Crocs 107.60

The roughly two billion dollar takeover of the Italian shoe manufacturer Heydude also met with little acceptance Crocs. The titles of the company known for its rubber clogs sagged by 11.6 percent. However, the acquired brand could develop better than the core business in the long term, said Jane Hali, head of the research company Jane Hali & Associates. Comfortable casual shoes are still in high demand.

On the other hand, things clearly improved for the second day in a row Tesla. CEO Elon Musk said he was almost done with the announced sales of numerous Tesla shares. The papers gained 5.8 percent after they had already risen by 7.5 percent on Wednesday. The electric car pioneer is valued at more than a trillion dollars on the stock exchange.

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