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New York stock market mixed with profit-taking… Nasdaq closed 0.56%↓

New York stock market mixed with profit-taking… Nasdaq close 0.56%↓ (GIF)

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(New York = Yonhap News) Yeong-sook Yoon, Correspondent for Yonhap Infomax = The New York Stock Exchange showed mixed results as tech stocks fell during the year-end profit-taking.

At the New York Stock Exchange (NYSE) on the 28th (Eastern Time), the Dow Jones Industrial Average finished trading at 36,398.21, up 95.83 points (0.26%) from the previous day.

The Standard & Poor’s (S&P) 500 index fell 4.84 points (0.10%) to 4,786.35 from the battlefield, and the Nasdaq index, centered on technology stocks, closed at 15,781.72, down 89.54 points (0.56%) from the battlefield.

The previous day, the S&P 500 hit its 69th all-time high this year and re-recorded its intra-day high, but turned downward due to the burden of the high.

The S&P 500 and Nasdaq indexes turned downward for the first time in five trading days, while the Dow rose for the fifth consecutive day.

Investors paid attention to the economic impact of the Omicron mutation and expectations for the year-end Santa Rally.

As of the previous day, the number of new confirmed cases of COVID-19 around the world was 1.44 million, the highest since the pandemic, confirming the rapid spread of Omicron mutations once again.

However, despite the rapid spread of the Omicron mutation, the US health authorities relaxed quarantine guidelines helped to improve investor sentiment.

The U.S. Centers for Disease Control and Prevention (CDC) has released new guidelines that cut the quarantine period for asymptomatic COVID-19 patients from 10 days to 5 days.

However, the CDC recommends wearing a mask for at least five days in this case to minimize the risk of passing the disease on to others.

Earlier, the airline industry had requested the government to shorten the quarantine period, saying that the manpower shortage was getting worse due to the long quarantine period.

Apple has decided to temporarily close all stores in New York City due to the spread of the coronavirus.

Apple did not take customers to Apple stores in New York City, but only purchased products online and picked them up outside the store.

There is also news that South African researchers have published a study result showing that infection with omicron mutations increases the preventive effect against omicron mutations as well as delta mutations at the same time.

The researchers diagnosed that if the pathogenicity of Omicron is weaker than that of delta mutations, then Omicron could push out delta mutations.

Investors are expecting the Santa Rally to reappear this year, as stock prices tend to rise for two days after Christmas as the stock index hits an all-time high.

However, a profit-taking movement was also detected due to the burden of consecutive rises in the index.

U.S. home price growth slowed for the second straight month.

The seasonally-adjusted October National Home Price Index, compiled by S&P CoreLogic Case-Shiller, rose 19.1% annually, down from a 19.7% gain in September.

The 20 city home price index rose 18.4% on an annualized basis, down from a 19.1% gain in the previous month and below the 18.6% increase expected by Wall Street.

The Richmond Federal Reserve Bank (Fed), which shows manufacturing activity in the Richmond region in the United States in December, recorded 16 in the manufacturing index for December, higher than last month.

Among individual stocks, the stock price of Apple, the world’s No. 1 stock, fell 0.58%, failing to break through the $3 trillion market cap.

Shares of both Pfizer and Moderna fell more than 2% as concerns over the coronavirus eased.

Shares of Nvidia, which had risen more than 4% the day before, fell more than 2%.

By industry, stocks related to utilities, consumer staples, materials, industry, and real estate rose, while stocks related to technology, telecommunications, health and energy fell.

New York Stock Exchange experts said investors do not expect the economic impact of Omicron to be significant.

Brian Bendig, president of MJP Wealth Advisors, said yesterday’s share price rise “indicates that the market is confident that it can overcome the short-term difficulties posed by the omicron mutation.”

He said private investors could support the stock’s rise for the rest of the year, with volume being low.

He advised that next year, the same issues as this year will attract investors’ attention, and “we will have to keep an eye on the path of the pandemic, supply chain issues, inflation, and the policy plans of the Federal Reserve (Fed).”

According to the Chicago Mercantile Exchange (CME) FedWatch, the Federal Funds (FF) interest rate futures market predicted a 63.9% chance that the Fed would raise rates in March next year. The likelihood of a rate hike in May next year was 76.7%.

At the Chicago Board Options Exchange (CBOE), the volatility index (VIX) fell 0.14 points (0.79%) to 17.54 from the battlefield.

ysyoon@yna.kr

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