The New York Stock Exchange took a break on Tuesday after two straight records, ending a loose trading session in scattered order.
According to final results at the close, the Dow Jones index closed up 0.3% to 36,398.21 points. The Nasdaq, with strong technological coloring, fell 0.6% to 15,781.72 points. The S&P 500, blowing after two consecutive highs, fluctuated before dropping 0.1% to 4786.35 points.
In Toronto, the floor was closed Tuesday.
After the strong previous sessions, “investors have remained cautiously optimistic about the rather positive news around the Omicron variant”, summarized analysts at Wells Fargo. The weak market strength on Tuesday reflected a year-end session “with simply a lack of interest,” said Maris Ogg, of Tower Bridge Advisors. “The decline of the Nasdaq is not very convincing. More than half of my screen is green, the other half is red. There is no dominant trend, ”observed the portfolio manager.
According to her, investors have already “made their judgment on Omicron and believe that its impact will not be significant on the economy.” “A study estimated that the impact of the Delta variant slowdown cost US GDP 1%; I think that for Omicron, it will be much less ”, underlined Maris Ogg.
Between Christmas and New Year’s Day, also noted Peter Cardillo, of Spartan Capital, “there are position adjustments for the end-of-year accounts which explain the divergent evolution of the indices”. The amplitude of the movements is also increased by the low volume of trade at this time of the year.
“I think it was just a break, not a change of heart,” added the analyst.
In the bond market, yields on 10-year Treasuries edged up slightly to 1.48%, from 1.47% the day before.