Dow, S&P 500 close at all-time highs
Pending home sales fell 2.2% month over month in November
Amid omicron spread, risk is 'on' in the markets: Delancey Strategies president
Delancey Strategies president Jared Levy provides insight on the U.S. markets.
U.S. stocks closed in record territory on Wednesday despite lingering worries about the coronavirus' omicron variant.
STOCK FUTURES FLAT AMID OMICRON CONCERNS
The Dow Jones Industrial Average climbed 90.42 points, or 0.25%, setting a new record. The S&P 500 rose 0.14%, setting its own record, while the Nasdaq Composite ended down 0.10%. It marked the first record close for the Dow since Nov. 8.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 44756.38 | -103.93 | -0.23% |
| SP500 | S&P 500 | 6000.43 | -21.20 | -0.35% |
| I:COMP | NASDAQ COMPOSITE INDEX | 19058.727048 | -116.85 | -0.61% |
Meanwhile, oil climbed 0.76% to $76.56 per barrel, its highest level since Nov. 24. The 10-year Treasury yield also jumped 6.2 basis points to 1.542%, finishing at a five-week high.
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On the economic data front, pending home sales fell 2.2% month over month in November, according to the National Association of Realtors. Economists surveyed by Refinitiv expected an increase of 0.5%.
In stocks, Tesla shares finished flat Wednesday after CEO Elon Musk exercised all of his stock options set to expire in 2022.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 333.34 | -4.89 | -1.45% |
Cal-Maine Foods ended Wednesday's trading session down more than 5% after earning 2 cents per share for its latest quarter, falling short of Refinitiv's 30-cent consensus estimate.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| CALM | CAL-MAINE FOODS INC. | 96.96 | +0.34 | +0.35% |
Shares of Chinese ride-hailing firm Didi also dropped 8% on Wednesday after Reuters reported that the company would list in Hong Kong in mid-2022 without issuing more shares or raising additional capital. Alibaba and Weibo also took a hit following a report that the former was considering selling its 30% stake in the latter to state-owned Shanghai Media Group.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DIDI | NO DATA AVAILABLE | - | - | - |
| BABA | ALIBABA GROUP HOLDING LTD. | 86.98 | +1.80 | +2.12% |
| WB | WEIBO CORP. | 9.45 | +0.37 | +4.06% |
Victoria's Secret also rallied 12% after the intimate apparel retailer announced a $250 million share repurchase program. In addition, the company reaffirmed its fourth-quarter guidance of diluted earnings per share in the range of $2.35 to $2.65 and total fourth-quarter sales in the range of flat to up 3% versus last year's $2.1 billion during the same period.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| VSCO | VICTORIA'S SECRET & CO. | 37.68 | +0.18 | +0.48% |
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Overseas, Japan's benchmark Nikkei 225 index lost 0.5%, Hong Kong's Hang Seng index dropped 0.8% and China's Shanghai Composite shed 0.9%. In Europe, London's FTSE rose 0.6%, Germany's DAX declined 0.7%, and France's CAC40 Index fell 0.2%.
FOX Business' Ken Martin contributed to this report.