US market close: Stocks pick up steam before Christmas
By Joseph Toppe
20:52, 22 December 2021
Wall Street has now posted two consecutive winning days after starting the week against the ropes.
The Dow Jones Industrial Average went up 261 points, or 0.74%, the S&P 500 improved 1.02%, while the Nasdaq Composite added 1.18%.
Halfway through the session, the Dow Jones Industrial Average was up around 120 points, the S&P 500 was approximately 0.5% better, while the Nasdaq Composite was enjoying a slight edge near 0.1%
Winners and losers: Pfizer stock pulling away
Following US President Joe Biden’s Tuesday announcement to strengthen White House resolve against rising American cases of Omicron, shares of Pfizer are 1.02% higher, while shares of Johnson & Johnson are 0.43% better. However, shares of Moderna are stuck in reverse, closing Wednesday 6.26% in the red.
Shares of Tesla shares are over 7% in positive territory after Elon Musk said he had reached his goal of selling 10% of his ownership the electric-vehicle maker for tax reasons.
As US consumers prepare for holiday travel, shares of American Airlines are up 0.77%, shares of Delta Airlines are better by 1.61%, while shares of Southwest Airlines and United Airlines are 0.61% and 1.46% higher respectively.
In the tech industry, shares of Apple are up 1.53%, shares of Meta Platforms are down 1.12%, as shares of Microsoft and Amazon are 1.18% and 0.06% higher respectively.
In banking, shares of JPMorgan are 0.39% better, shares of Goldman Sachs are up 0.53%, shares of Bank of America are 0.20% in the green, and shares of Wells Fargo are better by 0.46%.
What is your sentiment on BAC?
Oil: Crude spikes again
Oil futures remained in the green on Wednesday as West Texas Intermediate crude for February delivery spiked $1.64, or 2.3%, to close at $72.76 a barrel on the New York Mercantile Exchange, while February Brent crude, the global benchmark, jumped $1.31, or 1.8%, to settle at $75.29 a barrel on ICE Futures Europe.
In energy stock, shares of Exxon Mobil are 0.81% better, while shares of ConocoPhillips are 0.58% in positive area.
Gold: Precious metal ends above $1,800
Gold futures are up midweek, shooting past the $1,800 mark again.
February gold went up $13.50, or 0.8%, to settle at $1,802.20 an ounce Wednesday.
Forex: US dollar pushed back by euro
On Wednesday, one US dollar equals 0.75 of the Pound sterling, and 0.88 of the euro, losing a small step from its 0.89 position yesterday.
The yield on the benchmark 10-year US Treasury note fell to 1.457% from 1.487% Tuesday.
Read more: Caterpillar (CAT) stock rises 2.5% leading the Dow
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