Friday, September 30

Wall Street bullish: S & P500 closed at record high as Omicron fears dissipated

The arrival of Ómicron helped increase market volatility for much of the final month of 2021, although it was, overall, a earnings year for equities.

“Investors continued to see fairly strong economic growth and fairly positive developments when it comes to healthcare innovation around Covid-19, prompting an increase in demand for equities and it made investors look to allocate capital as the end of the year approaches, “said Matthew Miskin, director of investment strategies at John Hancock Investment Management.

The Industrial Average Dow Jones It rose 196.67 points, or 0.55%, to 35,950.56 units, while the S&P 500 gained 29.23 points, or 0.62%, to 4,725.79 units. The Nasdaq Composite added 131.48 points, or 0.85%, to 15,653.37 units.

Defensive sectors, which mostly outperformed their peers in December, generally lagged behind on Thursday. The S&P 500 has been in profit for three days, after having fallen in the three preceding sessions. For the week, the S&P 500 added 2.3%, the Dow Jones rose 1.7% and the Nasdaq climbed 3.2%.

“People are seeing the strength of Tuesday and Wednesday and suddenly everyone is more optimistic again,” said Robert Pavlik, senior portfolio manager at Dakota Wealth Management.