August 14, 2022

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As the Omigron fears recede, the Dow Jones and S&P ends at record levels

As the Omigron fears recede, the Dow Jones and S&P ends at record levels

The Dow Jones and Standard & Poor’s 500 indices on the Wall Street closed at all-time highs today, supported by gains in retail stocks, while investors avoided worries about the spread of the clumsy Omigran.

The Dow Jones climbed for the sixth consecutive session, recording long-term gains from seven consecutive sessions from March 5 to March 15 this year.

According to preliminary data, the benchmark Standard & Poor’s 500 Index ended 6.59 points, or 0.14 percent, higher at 4,792.94 points, while the Nasdaq index was down 16.15 points, or 0.10 percent, at 15,765 points.

The Dow Jones Industrial Average rose 90.95 points, or 0.25 percent, to close at 3,6491.04 points.

The Standard & Poor’s 500 closed slightly lower on Tuesday after recovering from four consecutive sessions of gains during the 2021 low-trading session.

And as the year 2021 draws to a close, key indicators of US stocks are set to record strong gains for the third year in a row on the back of historic financial and monetary stimulus support. The Standard & Poor’s 500 aims to release its strongest performance in the first three years of 1999.

Amid rising prices caused by supply chain disruptions and a strong economic recovery, next year, the Federal Reserve will shift its focus to the path of interest rate hikes.

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