Wall Street closed slightly higher on Wednesday, as investors welcomed the encouraging news about COVID-19 vaccines from Pfizer and BioNTech.
Pfizer and BioNTech said a three-dose series of the vaccine neutralized the omicron variant. in a laboratory test and that they could distribute an improved vaccine in March 2022 if necessary.
All three indices of the New York Stock Exchange closed higher. The S&P 500 airline sub-index hit its highest point since Nov. 24, just before news of the variant broke.
Investors were concerned that omicron could impose new restrictions in the countries and harm the recovery of the world economy.
In an attempt to slow its spread, Britain said it will apply stricter measures, including the recommendation to work from home.
Although Pfizer said that protection against omicron was reduced among people who had only two doses of the vaccine, investors remained calm.
According to preliminary data, the S&P 500 gained 14.56 points, or 0.31%, at 4,701.31 points; while the Nasdaq rose 99.33 points, or 0.63%, to 15,786.25. The Dow Jones Industrial Average was up 33.74 points, or 0.09%, to 35,753.17.
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