Home » Economy » Wall Street recovers from losses linked to health fears – 12/02/2021 at 22:26

Wall Street recovers from losses linked to health fears – 12/02/2021 at 22:26

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WALL STREET ENDS ON THE RISE

par Stephen Culp

NEW YORK (Reuters) – The New York Stock Exchange ended up on Thursday, rebounding after a session that ended sharply in the red the day before in the wake of the announcement of a first case of contamination by the Omicron variant of the coronavirus in the States United, while investors wonder about the evolution of the pandemic.

The Dow Jones index gained 1.82%, or 617.15 points, to 34,639.79 points.

The larger S & P-500 gained 64.06 points, or 1.42%, to 4,577.10 points.

The Nasdaq Composite has advanced 127.27 points (0.83%) to 15,381.32 points.

The Dow Jones recorded its strongest percentage increase in a session since early March, in the wake of Boeing’s gains.

While the dangerousness of the Omicron variant, detected in South Africa, has not yet been determined, countries around the world have taken new health measures and border restrictions.

The United States, which on Wednesday confirmed a first case in the country, in California, will force private insurance companies to reimburse home screening tests by individuals, as announced Thursday by President Joe Biden.

“Obviously there are concerns about Omicron but there is a feeling that the infections are not as bad as initially feared,” commented Oliver Pursche, vice president of Wealthspire Advisors, New York.

“Second point, the economic data, particularly on the labor market, are solid,” he added.

Particularly weighed down by health announcements, values ​​linked to the travel sector rebounded sharply during the session.

Between the state of the US labor market and lingering problems in supply chains, the US Federal Reserve (Fed) felt that the term “transient” was no longer useful in describing rising inflation, a turn which gives rise to fears among investors that interest rates will rise sooner than expected.

Attention is turned to the publication on Friday of employment data in November in the United States.

All major sectors of the S & P-500 finished in the green on Thursday, foremost among which is finance.

On the value side, Boeing signed its largest increase since February 24, jumping 7.5% after the aviation authority in China paved the way for the lifting of the ban on the flight of the 737 MAX.

Meanwhile, credit card companies Visa, Mastercard and American Express grew 4% or more.

(French version Jean Terzian)

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