Friday, September 22

Wall Street: S&P 500 Hit New Record After Strong US Sales Data

Retail sales rose 8.5% during the holiday shopping season, from November 1 to December 24, driven by the boom in e-commerce, a report from Mastercard showed. Against this backdrop, the S&P 500 Retail Trade Index rose for the session.

Travel-related stocks, which are often sensitive to news of the coronavirus, fell after US airlines canceled about 800 more flights on Monday, having cut thousands of flights over the Christmas weekend, amid the surge. of omicron cases. Cruise operators Norwegian Cruise Line Holdings, Royal Caribbean and Carnival Corp led the declines.

Meanwhile, the Nasdaq Composite added 216.53 points, or 1.4%, to 15,869.90 units, following the support received from mega-capitalization companies, such as Tesla Inc, Microsoft Corp, Apple Inc, and Meta Platform. The Dow Jones Industrial Average rose 350.63 points, or 1%, to 36,301.19 points..

Wall Street’s major stock indices are heading for a third consecutive annual gain, with the S&P 500 set to close with its best three-year performance since 1999.