S&P 500 closes lower after four-day rally to record high

Record ID: 1653009

  • Title: S&P 500 closes lower after four-day rally to record high
  • Date: 28th December 2021
  • Summary: NEW YORK, NEW YORK, UNITED STATES (DECEMBER 28, 2021) (REUTERS) (SOUNDBITE) (English) SYSTEMATIC VENTURES, CEO, MAX WOLFF, SAYING "So between Omicron and the year that everyone wants to forget, I'm not sure how many guys, senior guys are on the desk right now, but whoever is on there is still kind of going with the party of the last few days. 2021's going to end up in the
  • Embargoed: 11th January 2022 21:12
  • Keywords: COVID-19 Dow Jones Nasdaq Omicron S&P 500 S&P 500. stocks Wall Street Dow Jones coronavirus equities index indices markets shares trading vaccine
  • Location: NEW YORK, NEW YORK, UNITED STATES
  • City: NEW YORK, NEW YORK, UNITED STATES
  • Country: USA
  • Topics: Economic Events,Equities Markets,United States
  • Reuters ID: LVA002F9YED6V
  • Aspect Ratio: 16:9
  • Story Text:The S&P 500 closed slightly lower after hitting a record intraday high on Tuesday (December 28), as a four-day rally lost steam in thin trading and investors weighed Omicron-driven travel disruptions and store closures.
    The Centers for Disease Control and Prevention (CDC) on Monday shortened the recommended isolation time for Americans with asymptomatic cases of COVID-19 to five days from the previous guidance of 10 days.
    The update follows approvals for new pills and more vaccines to fight COVID-19.
    It helped investors shrug off concerns over thousands of flight cancellations and Apple Inc shutting its New York stores due to surging cases, and put U.S. stocks on pace for monthly gains.
    Eight of the 11 major S&P 500 sector indexes rose on Tuesday.
    Technology and healthcare led declines.
    According to preliminary data, the S&P 500 lost 4.53 points, or 0.08%, to end at 4,787.14 points, while the Nasdaq Composite lost 86.27 points, or 0.54%, at 15,784.99. The Dow Jones Industrial Average rose 101.66 points, or 0.26%, to 36,404.04.
    In company news, Boeing Co rose as Indonesia lifted a ban on its 737 MAX, three years after the crash of one of the aircraft and loss of all 189 people on board.
    Markets are in the seasonal Santa Claus rally, with CFRA Research data showing the S&P 500 has on average risen 1.3% in the last five trading days of the year, and first two days of the new year since 1969.
    The Federal Reserve signaled earlier this month three quarter-percentage-point interest rate hikes by the end of 2022 as the economy nears full employment and the U.S. central bank copes with an inflation surge.
    (Production: Aleksandra Michalska, Dan Fastenberg, Chris Dignam)
  • Copyright Holder: REUTERS
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