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The day started mixed on Wall Street, but a few hours into trading, it turned up on all of the leading indices. At closing, both the S&P 500 and the Dow Jones ended with a marked rise. Nasdaq had the heaviest start to the day with a slight decline, but the technology index also recovered.
- The broad S&P 500 index rose 1.42 percent
- The Dow Jones industrial average rose 1.82 percent
- The Nasdaq technology index rose 0.83 percent
There has been unrest in most global stock markets in recent weeks due to increased spread of infection, and Wednesday was the first case of the new omikron variant discovered in the United States.
Tourism stocks recovered
In other words, it was the technology stocks that had the hardest time in the opening. Among other things, Apple fell more than three percent, after the giant according to Bloomberg should have told its suppliers that the demand for Iphone 13 in particular has weakened. A few hours into trading, however, the stock has recovered and is down 0.9 percent.
It is better for the aircraft manufacturer Boeing, which rose above seven percent on the news that the Chinese aviation authorities have approved the troubled Boeing 737 MAX aircraft to resume operations in China for the first time since March 2019, according to Reuters.
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Delta Air Lines, MGM resorts, Hilton Worldwide and Norwegian Cruise Line also recovered after the tourism shares received a heavy day on the stock exchange yesterday.
The US unemployment figures for last week ended at 222,000, lower than the preliminary estimate of 240,000, according to CNBC. The report comes in the wake of a tight labor market, where more workers than ever before are leaving their existing jobs for new opportunities.
Biden rejects a new shutdown
On Thursday, President Joe Biden also briefed on measures related to the corona situation and the new omicron variant.
The first case of omicron in the United States was detected in California on Wednesday.
At the same time, the President emphasized that the measures introduced to combat the coronavirus during the winter months should not involve the closure of society. Instead, the strategy will be to achieve a higher vaccination rate and provide more booster doses.
“It does not involve closures or shutdowns, but widespread vaccination and booster doses and testing and much more,” Biden told reporters on Thursday according to CNBC.(Terms)Copyright Dagens Næringsliv AS and / or our suppliers. We would like you to share our cases using a link, which leads directly to our pages. Copying or other use of all or part of the content may only take place with written permission or as permitted by law. For additional terms look here.
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