Wall Street rose for the third day in a row

The stock markets in the US have now had three days in a row of upswing. This is how Thursday ended:

• The S&P 500 rose 0.62 percent
• The Dow Jones rose 0.55 percent
• The Nasdaq Composite rose 0.79 percent

Thanks to good stock appetite in recent days, the broad S&P index ended at the highest level ever, at 4725 points.

The previous record was set earlier in December. The intraday record from the end of November is also within reach.

CNBC points out that three recent studies on the omikron variant contribute to a good mood among Wall Street investors.

Various reports from South Africa, England and Scotland all point in the direction that the omicron variant carries a lower risk of hospitalization than other coronavirus variants.

At the same time, the researchers point out that it is still too early to conclude. The surveys give just as much hope.

Higher inflation figures

Before the stock market opened on Thursday, recent inflation figures came from the USA.

Core PCE, ie inflation in private consumption excluding food and energy, was up 4.7 per cent on an annual basis in November.

In advance, an increase of 4.5 percent was expected, writes TDN Direkt.

The core PCE is the US Federal Reserve’s preferred inflation target.

Not common with large fluctuations

It has been a December month with relatively large effects on Wall Street.

– December is usually a month where you should not really see so much volatility, but we have got it thanks to the omikron variant, says investment strategist Angelo Kourkafas in Edward Jones to CNBC.

– Our view is that the last two days’ rally shows confidence that the economy will be able to rise from the threat from the omikron variant.

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